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Correct answer
D. Expense of business
Explanation
Expense of business is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
B. 18,387
Explanation
18,387 is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
B. Outstanding checks
Explanation
Outstanding checks is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
A. 6441
Explanation
6441 is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
B. Outstanding Salaries
Explanation
Outstanding salaries are short term obligations expected to be paid off during the short period of time. So, it is a current liability. Prepaid expenses, trademark and discount on issue of shares are assets. Hence, D. is correct answer
Correct answer
D. estimation of selling price.
Explanation
estimation of selling price. is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
D. Fixed assets
Explanation
Fixed assets is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
A. Moving average method
Explanation
D. The following methods are the practical ways of realizing revenue applying the conservatism concept and realization concept and the A. Delivery method in case of sale of goods, B. Percentage-of-completion method in case of rendering of services and C. Production method in case of agriculture produce. Thus, these are the various ways of recognizing revenue and the methods adopted to recognize revenue. Moving average method D. is the method of valuing inventory and it is not the method adopted to recognize revenue. Thus, D. is the correct answer.
Correct answer
C. Contra entry
Explanation
Contra entry is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
C. Amount to be paid in foreign currency
Explanation
Amount to be paid in foreign currency is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.