Accounting Mcqs

Q.  If goods worth 1,750 returned to a supplier is wrongly entered in sales return book as 1,570, then

a. Net Profit will decrease by 3,140
b. Gross Profit will increase by 3,320
c. Gross Profit will decrease by 3,500
d. Gross Profit will decrease by 3,320


ANSWER: See Answer
 
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MCQs:  Any gain on the sale of non-current assets should be _________ from the net profit and the loss must be _________to the net profit in determining fund from operation?
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MCQs:  Cash book records?
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MCQs:  Which column of a cash book will not have credit balance___________?
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MCQs:  Petty cash balance is a/an___________?
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MCQs:  Which of these is a Part of cash in hand?
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MCQs:  Which of the following is a Real A/c?
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MCQs:  Which of the following is a Nominal A/c ?
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MCQs:  Goodwill A/c is a/an__________?
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MCQs:  Posting is the process of____________?
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MCQs:  A book wherein various accounts are opened is called____________?
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MCQs:  Capital expenses are shown in___________?
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MCQs:  Revenue is generally recognized as being earned at that point of time when?
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