Transfer of money from one place to another i.e. mail transfer is an item to be excluded from bills payable.

Related MCQs

• As per AS 7 Research and Development cost is to be excluded from contract cost .
• Rebate of Bills discounted is an income received in advanced which is carried forward as other liability.
• Interest paid and payable comes to the……………side of the profit and loss account.
• When the concept of ratio is defined in respect to the item shown in the financial statements, it is termed as
• The main function of………………company are accepts deposits money
• The main function of a banking company are to accept deposits of money from the public and to lend or invest these deposits.
• All sums of…………….received and expended by the Society and the matters in respect of which receipts and expenditure take place.
• Every banking company incorporated in India must transfer to the Reserve fund a sum equivalent to not less than 25% of profit of each year before declaration of dividend.
• …………….asset is one which has been classified as non-performing asset for period not exceeding than………….years
• Sub-standard assets is one which has been classified as non performing asset for a period not exceeding three years.