Petty cash balance is a/an___________?

Related Mcqs:

Credit note is the basis for recording a transaction in which of the following SPECIALIZED journals?

A. Purchase journal B. Sales return journal C. General journal D. Cash receipt journal...

Journal proper is meant for recording_____________?

A. Credit purchase of fixed assets B. Return of goods C. All such transactions for which no special journal has been kept by the business D. None of these...

Which of the following is a revenue expenses?

A. Raw material consumed B. Plant purchased C. Long term loan raised from bank D. Share Capital...

The entry for creating a Provision for bad debts is_____________?

A. Debit Provision for Bad Debts A/c and credit Debtors A/c B. Debit Debtors A/c and credit Provision for Bad Debts A/c C. Debit Provision for Bad Debts A/c and credit Profit & Loss A/c D. Debit Profit and Loss A/c and credit Provision for Bad Debts A/c....

On scrutiny of a firm‘s books of accounts, it was observed that the following errors have occurred in the previous years but have not yet been rectified.

i. Depreciation for 2011-2012- 7,000 understated ii. Accrued expenses as at March 31, 2013 – 10,000 understated The impact of this on the reported net income for the year ending March 31, 2013 is A. 7,000 Overstated B. 10,000 Overstated C. 17,000 Understated D. 17,000 Overstated...