| A. | a b c d II I IV III |
| B. | a b c d III IV I II |
| C. | a b c d III I IV II |
| D. | a b c d II IV I III |
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Option: B Explanation : Click on Discuss to view users comments. |
Which of the following statement is correct?
| A. |
Fixed assets must always be shown at market value
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| B. |
Book-keeping and accounting are different terms
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| C. | Owner's Equity = Assets + Liabilities |
| D. | Patents is an example of current asset |
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Option: A Explanation : Click on Discuss to view users comments. Jasbir Singh said: (12:38am on Sunday 26th June 2016)
According to historical cost concept Fixed assets must always be shown at market value For example:The company built its ERP in 2008 at a cost of $40 million. In 2010 it is estimated that the present value of the future benefits attributable to the ERP is $1 billion. The ERP shall stand on balance sheet at its historical costs less accumulated depreciation.
nisha said: (9:26pm on Wednesday 21st February 2018)
B..Is the right ans as book keeping is a narrower term than accounting
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| A. |
Cash discount is an allowance made by the person who receives cash to the payer for prompt payment
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| B. |
Cash discount is an allowance in addition to the trade discount
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| C. |
Cash discount is recorded in account books
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| D. |
Cash discount is always allowed at a rate higher than the rate of trade discount
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Option: D Explanation : Click on Discuss to view users comments. |
Bonus shares can be issued by a company
| A. |
Out of the Reserves created by revaluation of fixed assets
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| B. |
Out of share premium not collected in cash
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| C. |
Without any provision for it in the Articles of Association of the company
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| D. |
Out of free reserves built out of genuine profit
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Option: D Explanation : Click on Discuss to view users comments. |
