Provision is created for____________?

Related Mcqs:

Sales and purchase journal don’t record__________?

A. Credit sales B. Credit purchases C. Credit sales and purchases D. Cash sales and purchases...

Which of the following is a liability?

A. Cash B. Equipment C. Debtors D. Creditors...

Cash received for services rendered will______________?

A. Increase cash and liability B. Increase equity and liability C. Increase fixed assets and cash D. Increase cash and equity...

Which of the following equations is correct?

A. Gross Profit+ Sales+ Direct expenses+ Purchases+ Closing stock = Opening stock B. Gross Profit+ Sales+ Direct expenses+ Purchases- Closing stock = Opening Stock C. Gross Profit + Opening Stock + Direct expenses + Purchases- Closing stock = Sales D. Gross Profit – Opening Stock + Direct expenses + Purchases +Closing stock = Sales...

The drawer of a trade bill passes relevant entries with regard to the transaction involved in it. But, in case of an accommodation bill, he passes an entry in addition to the usual entries. The additional entry so passed is with respect to

A. Discounting of the bill with the bank B. Payment of the bill on due date C. Remitting or receiving the amount D. Sending the bill to bank for collection...