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MCQs: For the past 3 years, DK Ltd. has failed to accrue unpaid wages earned by workers during the last week of the year. The amounts omitted, which were considered material, were as follows:
March 31,2010 – ` 56,000
March 31, 2011 – ` 51,000
March 31, 2012 – ` 64,000
The entry on March 31, 2012 to rectify these omissions would include a
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MCQs: Purchase journal is kept to record_____________?
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MCQs: The beginnings inventory of the current year is overstated by 5,000 and closing inventory is overstated by 12,000. These errors will cause the net income for the current year by
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MCQs: The accountant of Leo Ltd. recorded a payment by cheque to a creditor for supply of materials as 1,340.56. The bank recorded the cheque at its correct amount of 3,140.56. The Company has not passed any rectification entries and the error is not detected through the bank reconciliation. The impact of this error is
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MCQs: Which of the following errors affects the agreement of a Trial Balance?
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MCQs: Which of the following should not be treated as revenue expenditure?
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MCQs: Capital expenditure is an expenditure which
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MCQs: Which of the following is not a deferred revenue expenditure?
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MCQs: Any donation received for a specific purpose is a_________?
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MCQs: Which of the following is an item of capital expenditure?
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MCQs: The balance of which of the following accounts do not disappear, once they are debited/credited to Trading Account?
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MCQs: Which one of the following should be considered a revenue expenditure?
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MCQs: Which of the following statements are / is true? – Events after Balance Sheet are?
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MCQs: Which one of the following is a capital expenditure?
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MCQs: Which of the following enhances the earning capacity of an asset?
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MCQs: Which of the following items should not be capitalized relating to fixed assets?
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MCQs: Which of these errors affect only one account?
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MCQs: Which of these errors affect two or more accounts
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MCQs: Which of the following error is an error of principle
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MCQs: Which of the following is an one sided error?
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