Q4] Deewali advance given to an employee is a) Revenue Expenditure b) Capital Expenditure e) Deferred Revenue Expenditure d) Notan Expenditure
Q4] Deewali advance given to an employee is
a) Revenue Expenditure b) Capital Expenditure e) Deferred Revenue Expenditure d) Notan
Expenditure
Q5] A firm has reported a profit of Rs.1,47,000 for the year ended 31-3-2014 after takinginto
consideration the following items.
(1) The cost of an asset Rs.23.000 has been taken as an expense
(ii) The firm anticipated a profit of Rs.12.000 on the sale of an old furniture
(iii) Salary of Rs.7.000 outstanding for the year has not been taken into account.
(iv) An asset of Rs.85,000 was purchased for Rs.75.000 and was recorded in the books at
Rs.85,000.
What is the correct amount of profit to be reported in the books?a)
Rs.1,47,000 b) Rs. 1,51,000 c) Rs. 1,63,000 d) Rs. 1,41,000
Q6] The process of recording financial data upto
a) Book keeping b) Classifying c) Summarising d) Analyzing
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
