Tax deducted at source A/c appears in___________?
(A) Assets side
(B) Liability side
(C) Profit & Loss A/c
(D) Debited to Capital A/c
Cost of goods sold excludes___________?
(A) Opening Stock
(B) Carriage inward
(C) Wages & Salary
(D) Postage & Stamps
Short term Assets expected to be converted into cash within 1 year or less than?
(A) Current Assets
(B) Fixed Assets
(C) Current Assets& current liabilities
(D) All of the above
An income statement in which each item expressed as percentage of Sale?
(A) Balance sheet
(B) income statement
(C) common size income statement
(D) All of the Above
The compensation paid by the borrower of fund to lender, from the borrower point of the cost of borrowing fund is called?
(A) Interest Rate
(B) Required rate of return
(C) Nominal interest rate
(D) All of the above
Period cost include which of the following ?
(A) selling Expense
(B) Direct labor
(C) factory overhead
(D) selling Expenses & administrative expenses
Which of the following statement is considered as the accountant’s snapshot of firm’s accounting value as of a particular date?
(A) Income Statement
(B) Balance Sheet
(C) Cash Flow Statement
(D) Retained Earning Statement
Which of the following form of business organization is least regulated?
(A) Sole-proprietorship
(B) General Partnership
(C) Limited Partnership
(D) Corporation
During the accounting period, sales revenue is Rs. 25,000 and accounts receivable increases by Rs. 8,000. What will be the amount of cash received from customers for the period?
(A) Rs. 33,000
(B) Rs. 25,000
(C) Rs. 17,000
(D) Rs. 8,000
Average Accounting Return is a measure of accounting profit relative to:
(A) Book value
(B) Intrinsic value
(C) Cost
(D) Market value