Accounting and Auditing - Financial Accounting MCQ

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6. The process of recording financial data upto trial balance is

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7. Rohit carrying on real estate business sold a piece of land for Rs.4,00,00,000 (cost Rs.3,50,00,000) then the type of receipt is ______ nature and profit on the sale is

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8. Interpretation means

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9. A trader purchases goods for Rs. 2500000, of this 70 % of goods were sold during the year. At the end of 31st December 2009, the market value of such goods were Rs. 500000. But the trader recorded in his books for Rs. 750000. Which of the following concept is violated.

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10. Which of the following is wrong?

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Financial accounting questions

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