The debit balance in Pass Book indicates: MCQ with Answer and Explanation
Question
Report Error
Discuss this Question (0)
Practice More Accountancy and Book Keeping Questions
Question #1
Report Error
In the Balance Sheet, 'Share Application Money Pending Allotment' is shown as:
Correct Answer: Option D
Explanation:
It is a liability until shares are allotted, and if allotment is due within 12 months, it's current.
It is a liability until shares are allotted, and if allotment is due within 12 months, it's current.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
Report Error
If opening stock is ₹20,000, purchases are ₹80,000, and closing stock is ₹15,000, what is the cost of goods sold?
Correct Answer: Option C
Explanation:
COGS = Opening Stock + Purchases - Closing Stock = 20,000 + 80,000 - 15,000 = ₹85,000.
COGS = Opening Stock + Purchases - Closing Stock = 20,000 + 80,000 - 15,000 = ₹85,000.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
Report Error
The primary objective of management accounting is to:
Correct Answer: Option A
Explanation:
Management accounting focuses on providing internal management with the financial and non-financial information needed for planning, controlling, and decision-making.
Management accounting focuses on providing internal management with the financial and non-financial information needed for planning, controlling, and decision-making.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
No comments yet. Be the first to start the discussion!