Which of the following is a 'Cash Equivalent'? MCQ with Answer and Explanation
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Question #1
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A suspense account with a credit balance indicates that:
Correct Answer: Option D
Explanation:
To force the Trial Balance to tally, a credit balance is placed in the suspense account to compensate for a heavier debit side.
To force the Trial Balance to tally, a credit balance is placed in the suspense account to compensate for a heavier debit side.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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Which of the following is an example of an 'Artificial Personal Account'?
Correct Answer: Option A
Explanation:
Corporations and companies are artificial persons created by law, distinguishing them from natural persons (Ramesh) or representative accounts.
Corporations and companies are artificial persons created by law, distinguishing them from natural persons (Ramesh) or representative accounts.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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Which of the following is a 'Money Bill' in India?
Correct Answer: Option D
Explanation:
Finance Bill is a Money Bill as it deals with taxation and government expenditure.
Finance Bill is a Money Bill as it deals with taxation and government expenditure.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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