Any gain on the sale of non-current assets should be _________ from the net profit and the loss must be _________to the net profit in determining fund from operation?

Related Mcqs:

________ is a separate legal entity that Total capital can be divided in many shares.

A. Partnership B. Sole proprietorship C. Company D. Non-profit organization...

Payment of expenses will ______ the assets

A. Increase B. Reduce C. apportion D. Overstate...

Credit balance as per Cash Book mean____________?

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

Which of the following relationships is/are false?

A. Net Profit = Gross Profit – Administration and Other expenses B. Net Profit = Gross Profit + Administration expenses and Other expenses C. Opening Stock + Purchases – Closing Stock = Cost of Sales D. Both B. and C. above...

Which of the following is not a feature of a promissory note?

A. It must be in writing B. It contains an unconditional promise to pay C. It is payable to the bearer D. It must be signed by the maker...