Sundry debtors as per Trial Balance is 43,000 which includes 2,200 due from ‗H in respect of goods sent to him on approval basis, the cost price of which is 1,800. Rectification would involve:

Related Mcqs:

An asset must be _______ by the business to be shown as an asset in its “balance sheet”

A. Possessed B. Owned C. Controlled D. Used...

Which of following best describes the increase in equity expands___________?

A. Business operations B. cash outflows C. Inflows of cash D. Appropriation expenses...

Which of the following is true?

A. Error of casting affects personal accounts B. Omission of a transaction from a subsidiary record affects only one account C. Error of carry forward affects two accounts D. Error of principle involves an incorrect allocation of expenditure or receipt between capital and revenue...

Outstanding salaries is shown as___________?

A. An Asset in the Balance Sheet B. A Liability C. By adjusting it in the P & L A/c D. Both B. and C. above...

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...