In case specific fund is maintained, the expenses exceeding the amount of the funds, should be recorded on:

Related MCQs

• In case specific fund is maintained, the expenses exceeding the amount of the fluids, should be recorded on:
• When a complete set of books are maintained for the joint venture and in case where an amount is spent on account of expenses or for purchasing goods for the venture, the entry would be
• From the following details calculate the net profit for the year ending 31.03.2013 Opening Stock ` 1,50,000; Purchase ` 2,50,000; Manufacturing Expenses ` 80,000; Selling Expenses ` 20,000; Administration Expenses ` 10,000; Financial Charges ` 5,000; Slaes ` 5,55,000 which includes damaged goods sold for ` 5,000 against the cost price of ` 12,000. Gross profit margin on normal sales is 20% on the sales
• A merchant sends out his goods casually to his dealers on approval basis. All such transactions are, however, recorded as actual sales and are passed through the sales book. On 31st March, it was found that 100 articles at a sale price of ` 200 each sent on approval basis were recorded as actual sales at that price. The sale price was made at cost plus 25%. The amount of stock on approval will be amounting
• ——— Principle specifies that cost or expenses should be recorded at the same time as the revenue to which they correspond
• If any transaction is not recorded in the primary books the same is recorded in _______
• Amount of retirement benefits of employees exceeding Rs.20,000 per employees is treated as____________
• Amount of retirement benefits of employees exceeding Rs.20,000 per employees is treated as____________
• Amount of Retirement benefits of employees exceeding ` 20,000 per employee is treated as
• All ________ expenses are recorded in the trading account