The 'Special Economic Zone' (SEZ) units are considered: MCQ with Answer and Explanation
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Practice More Accountancy and Book Keeping Questions
Question #1
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A credit balance in the bank column of a cash book signifies:
Correct Answer: Option A
Explanation:
Since bank is an asset (usually debit balance), a credit balance means the business has withdrawn more than deposited, creating an overdraft liability.
Since bank is an asset (usually debit balance), a credit balance means the business has withdrawn more than deposited, creating an overdraft liability.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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The primary purpose of a cash book is to:
Correct Answer: Option C
Explanation:
A cash book serves as both a book of original entry and a ledger account, specifically for recording all cash receipts and payments.
A cash book serves as both a book of original entry and a ledger account, specifically for recording all cash receipts and payments.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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Which of the following is a 'period cost'?
Correct Answer: Option B
Explanation:
Period costs are not tied to production volume and are expensed in the period incurred. Office rent is a period cost.
Period costs are not tied to production volume and are expensed in the period incurred. Office rent is a period cost.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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