When shares are forfeited, the Share Capital Account is debited by: MCQ with Answer and Explanation
Question
Report Error
Discuss this Question (0)
Practice More Accountancy and Book Keeping Questions
Question #1
Report Error
The term 'Audit' originates from the Latin word:
Correct Answer: Option C
Explanation:
The word 'audit' comes from the Latin 'audire' meaning 'to hear'.
The word 'audit' comes from the Latin 'audire' meaning 'to hear'.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
Report Error
Prime Cost consists of:
Correct Answer: Option A
Explanation:
Prime cost is the aggregate of all direct costs: direct materials, direct labor, and direct/chargeable expenses.
Prime cost is the aggregate of all direct costs: direct materials, direct labor, and direct/chargeable expenses.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
Report Error
S1: PFMS stands for Public Financial Management System. S2: PFMS is implemented by the Reserve Bank of India. Which statement(s) is/are correct?
Correct Answer: Option A
Explanation:
PFMS stands for Public Financial Management System, a web-based software system. It is implemented by the Controller General of Accounts (CGA) under the Ministry of Finance, not the RBI. S1 is correct, S2 is incorrect.
PFMS stands for Public Financial Management System, a web-based software system. It is implemented by the Controller General of Accounts (CGA) under the Ministry of Finance, not the RBI. S1 is correct, S2 is incorrect.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
No comments yet. Be the first to start the discussion!