The concept of conservatism will have the effect of______________?

Related Mcqs:

Which of the following will affect the agreement of a trial balance?

A. Complete omission of a transaction B. Partial omission of a transaction C. Error of principle D. Compensating errors...

Goods in stock worth 800 are destroyed by fire and the Insurance Co. is accepted the claim for 600. Adjustment would involve

A. Debit of 800 to Trading Account and credit of 600 and 200 to insurance company and Profit and Loss Account respectively B. Deduct the 800 from closing stock in the Trading Account C. Credit insurance company for 600 D. Debit of 600 and 200 to insurance company and Profit and Loss Account respectively and … Goods in stock worth 800 are destroyed by fire and the Insurance Co. is accepted the claim for 600. Adjustment would involveRead More...

Riaz holds an average inventory of 36,000(CP) with an inventory turnover of 5 times. If the firm makes a gross profit of 25% on sales, find the total sales of the company.

A. 2,40,000 B. 2,10,000 C. 2,00,000 D. 1,80,000...

Accommodation bills are generally for?

A. Genuine trade reasons B. For mutual financial accommodation C. To help augment money supply D. All the three...

Consider the following data for a company during the month of June 2012 Budgeted hours 4,000 Standard hours for actual production 4,400 Maximum possible hours in the budget period 4,800 Actual hours 3,800 The activity ratio of the company during the month is

A. 111% B. 120% C. 95% D. 117%...