Carriage on goods purchased is shown in:___________?

Related Mcqs:

1. Find the cost of goods sold if goods are sold for 2,000 at 25% profit on cost?

   A. 1,600
   B. 1,500
   C. 1,000
   D. 1,800

   Updated by: Mohammad Ejaz

2. Budgeted sales for the next year is 5,00,000 units. Desired ending finished goods inventory is 1,50,000 units and equivalent units in ending W-I-P inventory is 60,000 units. The opening finished goods inventory for the next year is 80,000 units, with 50,000 equivalent units in beginning W-I-P inventory How many equivalent units should be produced?

   A. 5,80,000
   B. 5,50,000
   C. 5,00,000
   D. 5,75,000

3. Insurance prepaid is shown as:___________?

   A. Current Asset
   B. Current Liability
   C. Fixed Asset
   D. Income

4. A second hand car is purchased for 2,00,000 and sold at 1,40,000 after two years. If depreciation is charged @ 10% on SLM method, find the profit or loss on sale of the car?

   A. 20,000 Loss
   B. 20,000 Profit
   C. 10,000 Loss
   D. 10,000 Profit

5. A second hand car is purchased for 2,00,000 and sold at 1,40,000 after two years. If depreciation is charged @ 10% on written down value method, find the profit or loss on sale of the Second hand car?

   A. Loss of 20,000
   B. Loss of 22,000
   C. Loss of 11,000
   D. Profit of 11,000

6. Which of the following account with normal balance is shown at the debit side of a trial balance?

   A. Rent income account
   B. Creditors account
   C. Unearned income account
   D. Cash account

7. Which of the following account with normal balance is shown at the credit side of a trial balance?

   A. Cash account
   B. Bank account
   C. Equipment account
   D. Accrued expenses account

8. Capital expenses are shown in___________?

   A. Balance Sheet
   B. Profit and Loss A/c
   C. Trading A/c
   D. None of these

9. Closing stock appearing in the Trial Balance is shown in:

   A. Trading A/c and Balance Sheet
   B. Profit and Loss A/c
   C. Balance Sheet only
   D. Trading A/c only

10. Depreciation Account appearing in the Trial Balance is shown in:

    A. Profit and Loss A/c
    B. Trading A/c
    C. Deducted from the concerned assets A/c
    D. Shown on the liability side