All receipts from sale of consumable items are treated as: Sol:

Related MCQs

• A Receipts and Payments Account record only non-cash items. Sol:
• Out of the following items, which one is shown in the Receipts and Payments Account? Sol:
• A company sends its cars to dealers on 'sale or return' basis. All such transactions ire however treated like actual sales and are passed through the sales day book. Just before the end of the financial year, two cars which had cost ` 55,000 each have been sent on sale or return and have been debited to customers at ` 75,000 each, cost of goods lying with the customers will be
• Receipts and payment accounts includes all receipts and payments of
• Receipts and payment accounts records all receipts and payments of
• ) A Receipts and Payments Account is nothing but a summary of all capital receipts and payments.
• Which of the following statements is/are true? (i) Cash Book records all cash receipts and cash payments (ii) Cash Book records all sale and purchase transactions of goods both in cash and on credit (iii) Cash Book records discount on Cash Payments
• The receipts and Payments account records receipts and payment of
• All receipts of capital nature are shown in : Sol:
• Receipts and Payments A/c is a summary of: Sol: