Posting is the process of____________?
AAll the three
BEntering in the ledger the information contained in the ledger
CPosting suitable person to a suitable job
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Correct answer
B. Entering in the ledger the information contained in the ledger
Explanation
Entering in the ledger the information contained in the ledger is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
A. Administration and general expenses
Explanation
Only those expenses which relate to and specifically attributable to the asset are capitalized. Administration and general expenses cannot be specifically attributable to the asset and hence cannot be capitalized.
Correct answer
B. Current assets and current liabilities
Explanation
Current assets and current liabilities is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
C. Balance Sheet
Explanation
Balance Sheet is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
A. Outstanding Salary A/c
Explanation
Outstanding Salary A/c is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
C. Capital
Explanation
Capital is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
A. Both B. and C. above
Explanation
Adjustments for prepaid subscription fees: P& L A/c Extract Total subscription fees paid 1,400 Less: Subscription fees prepaid Relating to next A/c period 200 Subscription fees 1200 The prepaid subscription fees of ` 200 will be shown as a current asset in the Balance Sheet as it is an expense relating to the next accounting period but has been paid in the current accounting period.]
Correct answer
C. All types of cash receipts and payments
Explanation
All types of cash receipts and payments is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
D. $500 will be credited
Explanation
$500 will be credited is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
B. At the end of an accounting period
Explanation
At the end of an accounting period is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.