Liability are arisen from which of the following events?

Related Mcqs:

Which of the following specialized journals records “goods returned by customers”?

A. Purchase journal B. Sales journal C. Purchases return journal D. Sales return journal...

________ is the gross inflow of economic benefits?

A. Assets B. Liabilities C. Income D. Expenses...

Which of these is not an operating income?

A. Income from sale of trading goods B. Bad debts recovered C. Interest on FDs D. None...

Accommodation bills are generally for?

A. Genuine trade reasons B. For mutual financial accommodation C. To help augment money supply D. All the three...

When production is equal to sales, which of the following is TRUE?

A. No change occurs to inventories for either use absorption costing or variable costing methods B. The use of absorption costing produces a higher net income than the use of variable costing C. The use of absorption costing produces a lower net income than the use of variable costing D. The use of absorption costing … When production is equal to sales, which of the following is TRUE?Read More...