Generally the term fund is used to mean the difference between?

Related Mcqs:

Bookkeeping mainly concerns with which part of accounting process?

A. Analyzing B. Preparing financial statements C. Recording financial information D. Auditing the books of accounts...

Closing stock is generally valued at______________?

A. Cost Price B. Market Price C. Cost price or Market price whichever is higher D. Cost price or Market price whichever is lower...

Cash received from debtors would be deemed as___________of funds.

A. No flow B. Sources C. Uses D. Gain...

Under the direct write-off method of recognizing a bad debt expense. Which of the following statements is/are true?

A. The bad debt expense is not matched with the related sales B. Revenue is overstated in the year of sales C. It violates the matching principle of accounting D. All of the above...

Which of the following statement is considered as the accountant’s snapshot of firm’s accounting value as of a particular date?

A. Income Statement B. Balance Sheet C. Cash Flow Statement D. Retained Earning Statement...