Fixed Assets and Current Assets are categorized as per concept of

Related MCQs

• Current assets does not include :
• M/s. A.B. Enterprises has bank balance 8,800 as per cash book and the followings were found: (a) Three cheques deposited in bank for 5,800 but only one cheque for 2,000 was cleared. (b) Dividend collected by Bank 1,250 was wrongly entered in cash book as 1,520. What is balance as per pass book?
• From the following details ascertain the adjusted bank balance as per Cash Book – overdraft as per Cash Book 1,60,000; cheque received entered twice in the Cash Book 10,000; credit side of bank column cash short by 1,000; bank charges amounting to 400 entered twice:
• There are 100 members each p aying an annual subscription of 500. The Receipt and Payment account shows arrear subscription of 4,500, advance subscriptions 6,000 and current 44,500. How much amount to be credited in the Income and Expenditure account?
• Credit purchase of fixed asset is recorded in
• Purchase of a fixed asset on credit basis is recorded in …………….
• Profit and loss account is prepared for a period of one year by following the concept of
• In case of depreciable assets are revalued, the provision for depreciation is based on
• Which financial statement represents the a ccounting equation as – Assets = Liabilities + Owner’s equity?
• Which financial statement represents the accounting equation “assets = liabilities + owners’ equity”