In a three-column cash book, the discount columns are: MCQ with Answer and Explanation
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Question #1
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In a single entry system, which accounts are usually maintained?
Correct Answer: Option B
Explanation:
The single entry system is incomplete; typically, only personal accounts (debtors/creditors) and the cash book are fully maintained.
The single entry system is incomplete; typically, only personal accounts (debtors/creditors) and the cash book are fully maintained.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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An 'Adverse Opinion' is issued when:
Correct Answer: Option D
Explanation:
Adverse opinion indicates that financial statements are materially misstated.
Adverse opinion indicates that financial statements are materially misstated.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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The 'Investor Education and Protection Fund' (IEPF) is established under:
Correct Answer: Option C
Explanation:
IEPF is constituted under Section 125 of Companies Act, 2013.
IEPF is constituted under Section 125 of Companies Act, 2013.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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