Which one of the following should be considered a revenue expenditure?
(A) 1000 paid for the execution of a new plant
(B) Loss of 10,000 incurred in increasing the sitting accommodation of a hotel
(C) Damage paid on account of breach of a contract to supply certain goods
(D) Repair to machinery purchased, second hand.
The balance of which of the following accounts do not disappear, once they are debited/credited to Trading Account?
(A) Sales
(B) Purchases
(C) Inward returns
(D) Closing stock
Which of the following is an item of capital expenditure?
(A) Research and development costs during the year
(B) Interest on borrowed fund utilized for acquisition of Office Furniture
(C) Installation charges paid in conjunction with the purchase of Office Equipment
(D) Monthly rent of a machinery used in the business
Any donation received for a specific purpose is a_________?
(A) Liability
(B) Assets
(C) Revenue receipts
(D) Capital receipts
Which of these is a Part of cash in hand?
(A) Postage stamps
(B) B/R
(C) Cheque Deposited with Bank
(D) B/R endorsed
Which column of a cash book will not have credit balance___________?
(A) Bank column
(B) Discount column
(C) Cash column
(D) None
The closing balance of a petty cash book is a / an___________?
(A) Liability
(B) Gain
(C) Assets
(D) Loss
Which of these transactions will not be recorded in cash book?
(A) Cash received from debtors
(B) Cash paid to creditors
(C) Salary remained outstanding
(D) Cash deposited with bank
In a three column cash book_______________does not exist?
(A) Cash column
(B) Bank column
(C) Petty cash column
(D) Discount column