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is used to record transactions that do not affect cash or bank. ► Payment voucher ► Receipt voucher ► Journal voucher ► All of the given options
Which one of the following item will appear on the balance sheet of a company as current assets?
Prepaid expenses ► Outstanding expenses ► Furniture and equipment ► Provision for depreciation
If bank statement shows a credit balance, it means __________balance for bank book. ► Favorable ► Unfavorable ► Overdraft ► None of the given options
Question No: 4 ( Marks: 1 ) - Please choose one Formula for Earning per Share is_______ ► Market value per share / Earning per share
Net profit after tax before appropriation / Number of shares ► Operating Profit before financial charges / Financial charges ► None of the given options
Liquidity is defined as: ► The amount of cash to liquidate ► The funds available for use ► The ability of business to receive its cash ► The ability of a business to pay its debts in time
The account through which surplus or deficit of a Non Trading Institution is ascertained, is called ___________account.
Any money taken away by the Owner for his personal use is called _________
If the gross profit is Rs.5000 and the net profit is 25% of the gross profit, the expenses must be Rs. _____
Write down the formula for debtor’s turnover ratio: • Calculate on the basis of number of days • Calculate on the basis of number of times
Rectify the following errors: 1. Salaries paid Rs. 13,000 was wrongly recorded as Rs. 1,300. 2. Purchase of goods from Mr. B worth of Rs. 5,500 was recorded at Rs. 4,500. 3. Cash sale to Mr. C worth of Rs. 10,000 was debited to sale account and credited to cash account. 4. Cost of repair Rs. 500 has been charged to Machinery account. 5. A sale of Rs. 3,000 to A was wrongly debited to the account of B.