Under the diminishing balance method, depreciation amount is:
(a) Payment
(b) Receipt
(c) Expenditure
(d) None of these
Under the diminishing balance method, depreciation amount is: Read More »
Accounting
Amount, cash, or other assets removed from business by owner is
(a) Capital
(b) Drawings
(c) Assets
(d) None of these
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Unpaid and unrecorded expenses are called
(a) Prepaid expenses
(b) Accrued expenses
(c) Additional expenses
(d) None of these
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For preparing balance sheets prepaid expenses are shown as part of
(a) Liability
(b) Equities
(c) Assets
(d) None of these
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Books of original entry are called
(a) Ledger
(b) Work sheets
(c) Journal
(d) None of these
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Sources of funds can be increased by
a. Describing selling prices
b. Increasing expenditure
c. None of above
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Combination can be best described as
a. Restructuring of Capital of a Company
b. Reduction of Capital of a Company
c. Amalgamation of two different types of businesses
d. None of these
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Short-term loan can be described as
a. If the period is three years
b. If the period is less than one year
c. If the period is over one year
d. None of these
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Current Ratio is calculated as
a. Fixed Assets/Current Liabilities
b. Current Liabilities/Current Assets
c. Current Assets/Current Liabilities
d. None of these
Current Ratio is calculated as Read More »