The total cost incurred in the operation of a business undertaking other than the cost of manufacturing and production is known as________?

Related Mcqs:

If a transaction is completely omitted from the books of accounts, will it affect the agreement of a trial balance?

A. Yes B. No C. Transactions can’t be omitted D. none of these...

Keeping the log of financial information in books of original entries is called__________?

A. Recording B. summarizing C. Grouping D. Processing...

An increase in provision for bad debt will____________?

A. Decrease net income B. Decrease liabilities C. Increase net income D. Increase liabilities...

A few errors committed in Ahhiwalia’s books of account are given below. State which errors would affect the Trial Balance.

(a). Sales of `950 to Ram completely omitted from books of account (b). Purchases of `720 from Shyam entered in the purchases journal as `700 (c). Purchases Journal is overcast by `1,000 (d). Sales returns journal is undercast by `200 (e) Amount paid to Agarwal wrongly posted to the debit to Mittal’s account (f) Bank … A few errors committed in Ahhiwalia’s books of account are given below. State which errors would affect the Trial Balance.Read More...

Which of the following will not appear in Profit and Loss Account of a business?

A. Drawings B. Bad debts C. Accrued expenses D. Reserve for discount on Sundry Creditors...