Profit on sale of old plant is:___________?

Related Mcqs:

Credit memo or credit note No. is entered in which of the following journal?

A. General journal B. Cash journal C. Purchase journal D. Sales return day book...

Which of the following accounts will be debited if the business’s owner withdraws cash from business for his personal use?

A. Drawings B. Cash C. Business D. Stock...

Which of these transactions will not be recorded in cash book?

A. Cash received from debtors B. Cash paid to creditors C. Salary remained outstanding D. Cash deposited with bank...

Which of the following is true with respect to providing depreciation under diminishing balance method?

A. The amount of depreciation keeps increasing every year while the rate of depreciation keeps decreasing B. The amount of depreciation and the rate of depreciation decrease every year C. The amount of depreciation decreases while the rate of depreciation remains the same D. The amount of depreciation and the rate of depreciation increases every … Which of the following is true with respect to providing depreciation under diminishing balance method?Read More...

Average Accounting Return is a measure of accounting profit relative to:

A. Book value B. Intrinsic value C. Cost D. Market value...