The 'Depreciation' entry is: MCQ with Answer and Explanation
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Question #1
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In a bank reconciliation statement, an overdraft as per the cash book will be increased by:
Correct Answer: Option A
Explanation:
Cheques issued but not presented reduce the bank balance, so they are added to the overdraft balance as per the cash book to reconcile with the pass book.
Cheques issued but not presented reduce the bank balance, so they are added to the overdraft balance as per the cash book to reconcile with the pass book.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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An unregistered partnership firm:
Correct Answer: Option B
Explanation:
An unregistered firm faces disabilities like not being able to enforce its rights in court.
An unregistered firm faces disabilities like not being able to enforce its rights in court.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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Who typically authorizes an accounting voucher before it is recorded?
Correct Answer: Option B
Explanation:
For internal control, vouchers must be signed and authorized by a designated manager or official before posting.
For internal control, vouchers must be signed and authorized by a designated manager or official before posting.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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