Recent developments have made much of a company‘s inventory obsolete. This obsolete inventory should be?

Related Mcqs:

Which of the following is the internal user of financial statements?

A. Creditor of the business B. Government agency C. Shareholder of the business D. Manager of the business...

Net income equal to Revenues minus____________?

A. Gains B. Depreciation C. Expenses D. Capital expenditures...

Which of these items are taken into consideration for preparation of adjusted Cash Book

A. Mistake in Cash Book B. Mistake in Pass Book C. Cheque issued but not presented for payment D. Cheques deposited but not cleared...

Depreciation appearing in the Trial Balance should be?

A. Debited to P&L A/c B. Shown as liability in Balance Sheet C. Reduced from related asset in Balance Sheet D. Both A. and C. above...

When bill discounted with the bank is dishonored?

A. Acceptor‘s Account is debited in the books of drawer B. Bills Receivable Account is credited in the books of drawer C. Bank Account is debited in the books of drawer D. Bills Payable Account is debited in the books of drawer...