Sundry debtors as per Trial Balance is 43,000 which includes 2,200 due from ‗H in respect of goods sent to him on approval basis, the cost price of which is 1,800. Rectification would involve:?

Accounting Mcqs
BILAL KHATTAK0

A. Adding 2,200 to closing stock
B. Deducting 1,800 from closing stock and deducting 2,200 each from debtors and sales 
C. Adding 1,800 to closing stock and deducting 2,200 each from debtors and sales 
D. Deducting 1,800 from debtors

Related Mcqs:

  1. Goods sent on approval basis’ have been recorded as ‘Credit sales’. This is an example of____________??
  2. Goods sold on the basis of ‘sales or return ‘ should:?
  3. Cost of goods sold excludes___________??
  4. Closing stock in the Trial Balance implies that______________??
  5. Gross Profit is equal to_________??
  6. The balance of which of the following accounts do not disappear, once they are debited/credited to Trading Account??
  7. A man sells two houses for Rs. 24000 each. He maks 20% of the cost price on the first, but on the second he has a loss of 30% of the cost price. How much did he gain or loss by this transaction?
  8. Debit balance = Credit balance in a trial balance indicates that:?
  9. The price of diamonds is higher than the price of wheat because
  10. Which of the following account with normal balance is shown at the debit side of a trial balance??

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