Net loss occurs when______________?

Related Mcqs:

A sale of Rs. 50.000 to A was entered as a sale to B. This is an example of____________?

A. Error of omission B. Error of commission C. Compensating error D. Error of principle...

Cash received from debtor is recorded in which of the following SPECIALIZED journals?

A. Purchase journal B. Sales journal C. Cash receipts D. Cash payments journal...

What is equity?

A. Cash from the business B. liability of a business C. Owner’s claim on total assets D. Owner’s claim on total liabilities...

Goods in stock worth 800 are destroyed by fire and the Insurance Co. is accepted the claim for 600. Adjustment would involve

A. Debit of 800 to Trading Account and credit of 600 and 200 to insurance company and Profit and Loss Account respectively B. Deduct the 800 from closing stock in the Trading Account C. Credit insurance company for 600 D. Debit of 600 and 200 to insurance company and Profit and Loss Account respectively and … Goods in stock worth 800 are destroyed by fire and the Insurance Co. is accepted the claim for 600. Adjustment would involveRead More...

From the following details what will be the partners commission? Net profit before charging partners commission 65,000. Partners commission @ 11% after charging such commission.

A. 6441 B. 5431 C. 7654 D. 9876...