A. Balance Sheet
B. Cash Flow Statement
C. Income Statement
D. None of the above
Submitted by: Aqeel Ahmed
Related Mcqs:
- Expenses of the following nature are treated as a Revenue expenses except__________?
A. Expenses for day to day running of the business
B. Putting the new asset in working condition
C. Depreciation
D. Purchase of raw material - Payment of expenses will ______ the assets
A. Increase
B. Reduce
C. apportion
D. Overstate - Capital expenses are shown in___________?
A. Balance Sheet
B. Profit and Loss A/c
C. Trading A/c
D. None of these - Which of the following is a revenue expenses?
A. Raw material consumed
B. Plant purchased
C. Long term loan raised from bank
D. Share Capital - The accounting process of gradually converting the unexpired cost of fixed assets into expenses over a series of accounting periods is_________?
A. Depreciation
B. Physical deterioration of the asset
C. Decrease in market value of the asset
D. Valuation of an asset at a point of time - The adjustment to be made for prepaid expenses is____________?
A. Add prepaid expenses to respective expenses and show it as an asset
B. Deduct prepaid expenses from respective expenses and show it as an asset
C. Add prepaid expenses to respective expenses and show it as a liability
D. Deduct prepaid expenses from respective expenses and show it as a liability - Prepaid expenses are valued on the Balance Sheet at
A. Replacement cost
B. Current cost
C. Cost to acquire less accumulated amortization
D. Cost less expired portion - Payment of rent expenses is recorded on which side of cash book?
A. Receipts
B. Payments
C. Income
D. Expense - Net income equal to Revenues minus____________?
A. Gains
B. Depreciation
C. Expenses
D. Capital expenditures - Bank reconciliation statement is the comparison of a bank statement (sent by bank) with the _________ (prepared by business).
A. Cash receipt journal
B. Cash payment journal
C. Cash book
D. Financial statements
The correct answer to the question: "The revenues and expenses of a company are displayed in which statement?" is "Income Statement".
