Goods distributed as free samples are debited to: MCQ with Answer and Explanation
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Question #1
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Which error will cause a mismatch in trial balance?
Correct Answer: Option C
Explanation:
Posting on the wrong side causes one side to be more/less, making totals unequal.
Posting on the wrong side causes one side to be more/less, making totals unequal.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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If a manufacturing company adopts JIT (Just-in-Time) inventory, its main goal is to:
Correct Answer: Option C
Explanation:
JIT aligns raw-material orders directly with production schedules to reduce waste and eliminate warehouse holding costs.
JIT aligns raw-material orders directly with production schedules to reduce waste and eliminate warehouse holding costs.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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The 'Value in Use' calculation uses:
Correct Answer: Option B
Explanation:
Value in use is the discounted present value of future cash flows.
Value in use is the discounted present value of future cash flows.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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