A high Inventory Turnover Ratio generally indicates: MCQ with Answer and Explanation
Question
Report Error
Discuss this Question (0)
Practice More Accountancy and Book Keeping Questions
Question #1
Report Error
Business loss can be carried forward for:
Correct Answer: Option C
Explanation:
Unabsorbed business loss can be carried forward for 8 assessment years immediately succeeding the assessment year in which loss was incurred.
Unabsorbed business loss can be carried forward for 8 assessment years immediately succeeding the assessment year in which loss was incurred.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
Report Error
Which of the following is an 'Accounting Estimate'?
Correct Answer: Option B
Explanation:
Useful life is an estimate; depreciation method is an accounting policy.
Useful life is an estimate; depreciation method is an accounting policy.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
Report Error
A credit purchase of machinery worth ₹50,000 will:
Correct Answer: Option A
Explanation:
Machinery (asset) increases, and a creditor liability increases. So assets and liabilities both increase.
Machinery (asset) increases, and a creditor liability increases. So assets and liabilities both increase.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
No comments yet. Be the first to start the discussion!