Loss on sale of fixed assets is called:
Loss on sale of fixed assets is called:
revenue profit | |
capital loss | |
None of these | |
revenue loss |
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Building destroyed by fire is a:
Building destroyed by fire is a:
Capital loss | |
Capital expenditure | |
Revenue expenditure | |
Revenue loss |
Revenue expenditures are presented in:
Revenue expenditures are presented in:
Pass book | |
Cash account | |
Profit & loss Account | |
Balance sheet |
Capital profit should be transferred to:
Capital profit should be transferred to:
trading a/c | |
balance sheet | |
income statement | |
profit and loss a/c |
A receipt is a revenue receipt because:
A receipt is a revenue receipt because:
the amount is heavy | |
it is intended to benefit the future period | |
it is credited to capital account | |
it relates to fixed assets |
Capitalized expenditure paid are shown in:
Capitalized expenditure paid are shown in:
income statement | |
trading a/c | |
balance sheet | |
profit or loss a/c |
A revenue expenditure, the benefit of which is not confined
A revenue expenditure, the benefit of which is not confined to one accounting year is called:
non-current expenditure | |
future expenditure | |
deferred expenditure | |
revenue expenditure |
Cost of redecorating a cinema hall is a:
Cost of redecorating a cinema hall is a:
revenue expenditure | |
capital loss | |
none of these | |
capital expenditure |
All revenue expenditures are taken to:
All revenue expenditures are taken to:
trading a/c | |
balance sheet | |
profit or loss a/c | |
trading & profit or loss a/c |
Which one of the following is appeared in the balance sheet:
Which one of the following is appeared in the balance sheet:
revenue expenditure | |
capital expenditure | |
deferred expenditure | |
both b, c |
Expenditure is a capital expenditure because:
Expenditure is a capital expenditure because:
the amount involved is heavy | |
it is intended to benefit the future period | |
it is the personal expenditure of the owner out of his capital | |
none of these |
An expenditure, which is temporarily increase the profit mak
An expenditure, which is temporarily increase the profit making capacity of the business is called:
non-recurring expenditure | |
capital expenditure | |
revenue expenditure | |
deferred expenditure |
Wages paid for the construction of building is an example of
Wages paid for the construction of building is an example of:
short-term expenditure | |
revenue expenditure | |
capital expenditure | |
recurring expenditure |
A person who owes money to a business is known as:
A person who owes money to a business is known as:
insolvent | |
debtor | |
investor | |
creditor |
Outstanding expenses are of business:
Outstanding expenses are of business:
expenses | |
revenues | |
liabilities | |
assets |
The price of goods and services sold during a given accounti
The price of goods and services sold during a given accounting period is called:
Revenue | |
Expense | |
Drawing | |
All of these |
A statement which shows operational results of a business is
A statement which shows operational results of a business is called:
Owners equity statement | |
Balance sheet | |
All of these | |
Income statement |
Assets minus liabilities are equal to:
Assets minus liabilities are equal to:
Net assets | |
None of these | |
Capital | |
Net liabilities |
A trading account is prepared to know:
A trading account is prepared to know:
Total profit | |
Net profit | |
All of these | |
Gross profit |
Direct expenses are related with:
Direct expenses are related with:
Purchases | |
Sales | |
None of these | |
Business |