All those liabilities which are payable in cash in the normal course of business within a period of one year are called _.

Related MCQs

• All those assets which are converted into cash in the normal course of business within one year are known as .
• ………budget gives an estimate of the anticipated receipts and payment of cash during the budget period.
• An item of cost that is direct for one business may be ......................for another business.
• Expenses incurred during production other than direct materials and direct labour are called…………..factory expenses; those charged to production on estimated basis are called …………….
• .......................Under marginal costing, …………… costs are treated as period costs and charged to profit and loss account for the period for which they are incured.
• Inventory turnover ratio = Cost of …………………..during the period ÷ Cost of average inventory held during the period.
• For a work order, standard time and time taken are 20 hours and 15 hours respectively. Time rate being Rs. 2 per hour, total wages payable under Rowan Premium Plan will be……………….
• The ratio which shows the proportion of profits retained in the business out of the current year’s profits is
• ……………….obviates the necessity for the physical checking of all items of stores at the end of the year and thereby avoids dislocation ofproduction.
• …..arises where the actual process loss is less than the normal predetermined process loss.