A. Debit Provision for Bad Debts A/c and credit Debtors A/c
B. Debit Debtors A/c and credit Provision for Bad Debts A/c
C. Debit Provision for Bad Debts A/c and credit Profit & Loss A/c D. Debit Profit and Loss A/c and credit Provision for Bad Debts A/c.
Provision for bad debt is a charge against profit and therefore, the entry for creating
provision for bad debts is done by debiting P&L A/c and crediting provision for bad debts
account.
A. Credit balance of Provision for Bad Debts Account B. Debit balance of Provision for Bad Debts Account
C. Debit balance of Bad Debts Account
D. Debit balance of Discount on Debtors Account
A. Credited to P&L A/c
B. Debited to P&L A/c
C. Reduced from debtors in Balance Sheet
D. Added to debtors in Balance Sheet Read More Details about this Mcq
A. Debit Profit and Loss Account and deduct the provision from debtors
B. Credit Profit & Loss Account and deduct the provision from debtors
C. Credit Profit and Loss Account and add the provision to debtors
D. Debit Profit & Loss Account and add the provision to debtors
A. Discounting of the bill with the bank
B. Payment of the bill on due date C. Remitting or receiving the amount
D. Sending the bill to bank for collection Read More Details about this Mcq
A. The bad debt expense is not matched with the related sales
B. Revenue is overstated in the year of sales
C. It violates the matching principle of accounting D. All of the above
A. Recording entries in journal
B. Recording entries in Ledger account C. Recording two aspects of every transaction
D. Recording every transaction in books
Accounting Mcqs for Preparation of various Test announced by Fpsc, kppsc, Nts, ppsc. accounting mcqs for accountant. These Mcqs are very helpful for the Preparation of various posts of Senior Auditor, Junior Auditor, Accountant and for Cost Accountant.
Principles of Accounting, Accounting Equation, Analyzing & Classifying Transaction, Journal, Ledger, Banking Transactions, Cash book and Bank Reconciliation Statement, Bill of Exchange, Capital & Revenue, Rectification of Errors, Final Accounts, Adjustments.
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