If goods worth 1,750 returned to a supplier is wrongly entered in sales return book as 1,570, then

Related Mcqs:

In accounting an Economic event is referred to as:

A. Cash B. Bank statement C. Transaction D. Exchange of money...

A journal entry in which two or more account is debited or credited is referred as____________?

A. Journal entry B. Multi entry C. Additional entry D. Compound entry...

For the past 3 years, DK Ltd. has failed to accrue unpaid wages earned by workers during the last week of the year. The amounts omitted, which were considered material, were as follows:

March 31,2010 – ` 56,000 March 31, 2011 – ` 51,000 March 31, 2012 – ` 64,000 The entry on March 31, 2012 to rectify these omissions would include a A. Credit to wage expense for ` 64,000 B. Debit to wage expense for ` 64,000 C. Debit to wage expense for ` 51,000 D. … For the past 3 years, DK Ltd. has failed to accrue unpaid wages earned by workers during the last week of the year. The...

Which one of the following should be considered a revenue expenditure?

A. 1000 paid for the execution of a new plant B. Loss of 10,000 incurred in increasing the sitting accommodation of a hotel C. Damage paid on account of breach of a contract to supply certain goods D. Repair to machinery purchased, second hand....

Credit balance as per Cash Book mean____________?

A. Surplus cash B. Bank overdraft C. Terms deposits with bank D. None of these...