Accounting Mcqs

Q.  From the following details what will be the partners commission? Net profit before charging partners commission 65,000. Partners commission 11% before charging such commission

a. 6441
b. 5431
c. 7150
d. 5876


ANSWER: See Answer
 
No explanation is available for this question!
TasDia Network - Mcqs | Signature | Lyrics
MCQs:  Favorable balance of cash book implies that
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  Bank reconciliation statement is the comparison of a bank statement (sent by bank) with the _________ (prepared by business).
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  In the Bank reconciliation statement “Deposit in transit” is usually:
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  Unpresented checks also referred as____________?
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  A discount of $2000 was given to a supplier on his prompt repayment of debt but the cashier entered the gross amount in cash book. What should be the adjustment in cash to work out the correct balance of cash book?
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  Standing orders are ________
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  Uncollected checks also referred as______________?
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  ___________ are checks that are issued by the business but not yet presented to bank
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  Bank sent debit advice of $500 to company being interest on overdraft. It wasn’t entered in cash book. Identify the correct adjustment in cash book.
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  In bank reconciliation statement the amount of outstanding checks is added to ________ balance of cash book.
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  Which of the following error results in unadjusted cash book balance?
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  _________ Checks that are presented to bank but not yet credited by the bank.
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  Favorable balance of bank statement implies that
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  Balance as per cash book(adjusted.=$1000, Unpresented checks=$2000, Uncredited checks=$500, Deposit in transit=$500. Compute the balance as per bank statement.
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  A company was entered in hire purchase agreement and had to pay $1000 per month. Three payments were made via bank account but no entry was found in cash book. Identify the correct adjustment in cash book
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  $5000 deposited in bank account was entered twice in the cash book. Identify the correct adjustment in cash book.
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  An entry which is made on both sides of a cash book is called__________?
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  Cash book records:______________?
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  Cash book is prepared by____________?
Category: MBA Questions,   Published by: T-Code Scripts
MCQs:  Discount received is recorded on which of the following side of a cash book?
Category: MBA Questions,   Published by: T-Code Scripts