Multiple Choice
The amount of credit sale is ascertained by :
A) Preparing Total Debtors' Account
B) Prepare Trading Account
C) Preparing Statement of affairs
D) None of the above
Correct Answer:
Verified
Correct Answer:
Verified
Q22: Bill dishonored is shown in<br>A)Bills receivable account<br>B)Bills
Q23: To ascertain the real profit, the difference
Q24: The single entry system cannot be adopted
Q25: Legacy for specific purpose is :<br>A)Added to
Q26: Entrance fees are generally<br>A)Capitalised<br>B)Taken as income<br>C)Treated as
Q28: In not-for-profit organisations, excess of expenditure over
Q29: Under single entry system, only personal accounts
Q30: Income and expenditure account reveals<br>A)Cash in hand<br>B)Surplus
Q31: Net Profit under single entry system is
Q32: Donations received for a special purpose are<br>A)Asset<br>B)Revenue