Which of the following is a capital expenditure??
A. Repair of plant and machinery
B. Salary paid to workers
C. Cost of stand by equipment
D. Annual whitewash of the office building
Category: Accounting Mcqs
Net sales equals, sales minus:?
A. Return outwords
B. Return inwards
C. cost of goods sold
D. carriage on sales
Cash book with cash and discount column is mostly referred as________??
A. Simple cash book
B. Two column cash book
C. Three column cash book
D. Petty cash book
The creation of provision for doubtful debts given as an adjustment requires____________??
A. Debit Profit and Loss Account and deduct the provision from debtors
B. Credit Profit
Depreciation decreases____________??
A. Liabilities
B. Cash
C. Bank
D. Capital
Transactions that a BUSINESS doesn’t record in any specialised journal are recorded in which of the following journals or day books??
A. Cash payments journal
B. Cash receipts journal
C. Purchases return journal
D. General journal
Goods return to customer are known as:?
A. Merchandise return
B. Purchase return
C. Return inwards
D. Sales return
The gross decrease in economic benefits for the business are what??
A. Expenses
B. Obligations
C. Creditors
D. Income or gain
Cash book is prepared by____________??
A. Bank
B. Accountant of business
C. Manager of a company
D. Bank’s cashier
Any donation received for a specific purpose is a_________??
A. Liability
B. Assets
C. Revenue receipts
D. Capital receipts
