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Correct answer
C. Examination of financial statements
Explanation
Examination of financial statements is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
D. Book value
Explanation
Book value is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
D. Manager of the business
Explanation
Manager of the business is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
D. Error of principle
Explanation
Error of principle is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
B. Two
Explanation
There are two systems of Accounting: 1. Cash System of Accounting 2. Mercantile or Accrual System of Accounting
Correct answer
D. Tangible asset
Explanation
Tangible asset is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
B. It lists down the balances of accounts
Explanation
It lists down the balances of accounts is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
B. Balance Sheet only
Explanation
Balance Sheet only is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
A. The person responsible for dishonour
Explanation
B. The noting charges are the charges paid to Notary Public for presenting a bill for payment and to note the fact of dishonour. The charges are to be borne by the person responsible for dishonour who is none other than the drawee. Thus, the correct answer is B.. The drawer of the bill A. is incorrect answer because the drawer may pay the charges initially but ultimately they are to be borne by the drawee. The holder of the C. is entitled to receive the payment of the bill and to bear the noting charges on the bill. The endorser D. may be the drawer of the bill in which case he will recover the noting charges from the drawee of the bill. Thus B. is the correct answer.
Correct answer
D. Interest on FDs
Explanation
Interest on FDs is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.