Description : Which of the following is incorrect? a) Good will intangible asset b) Sundry debtors -current asset c) Loose tools tangible fixed asset d) Outstanding expenses -current asset.
Last Answer : d) Outstanding expenses -current asset.
Description : (i) Stationery A/c (ii) Salary A/c (iii) Excise duty A/c
Last Answer : Classify the following accounts under the types of Personal, Real, and Nominal accounts : (i) Stationery A/ ... Bank Loan A/c (v) Bank Overdraft A/c
Description : Sundry Debtors – Rs.15,000 Bills Receivable (B/R) – Rs.12,500 Cash at Bank – Rs.17,500 Stock – Rs.15,000 Profit – Rs.20,000 Creditors – Rs.25,000 Bills Payable (B/P) – Rs.15,000 Sales – Rs.1,00,000 What is the Acid Test Ratio ? (A) 1•5 : 1 (B) 1•125 : 1 (C) 16 2/3% (D) 50%
Last Answer : Answer: 1•125 : 1
Description : Current assets include A. Stores & Spare parts B. Stock in trade C. Sundry Debtors D. All of the above
Last Answer : D. All of the above
Description : Expenditure on research and development (R & D) is categorised as the __________, while making an estimate of the total product cost for a chemical plant. (A) Overhead cost (B) Fixed expenses (C) General expenses (D) Direct production cost
Last Answer : (C) General expenses
Description : In a chemical process plant, the total product cost comprises of manufacturing cost and the (A) General expenses (B) Overhead cost (C) R & D cost (D) None of these
Last Answer : (A) General expenses
Description : Utilities cost in the operation of chemical process plant comes under the (A) Plant overhead cost (B) Fixed charges (C) Direct production cost (D) General expenses
Last Answer : C) Direct production cost
Description : Which of the following relationship is not correct is case of a chemical process plant? (A) Manufacturing cost = direct product cost + fixed charges + plant overhead costs (B) General ... manufacturing cost + general expenses (D) Total product cost = direct production cost + plant overhead cost
Last Answer : (D) Total product cost = direct production cost + plant overhead cost
Description : M/s Stationery Mart will debit the purchase of stationery to _______ a) Purchases A/c b) General Expenses A/c c) Stationery A/c d) None
Last Answer : a) Purchases A/c