Standard time 40 hours, actual time taken 30 hours, hourly rate of wages is Rs.10per hour. The Total wage of a worker under Rowan Plan— Rs.300 Rs.400 Rs.500 Rs.375
Packing cost is a Mixing cost Distribution cost Production cost Selling cost
Indirect cost is referred as Prime cost Labor Materials Overhead
Receipts mean: Profit earned Any benefit Acquisition of cash or any other asset None of these
Expenditure means Money values of the sacrifice made to take any benefit Any loss Any payment None of these
Which of the followings is not related to the head of Current Assets? Closing stock Bills Receivable Debtors Furniture
Which of the following is prepared to check the arithmetical accuracy of accounting record? All of these Journal Ledger Trial Balance
Capital at the beginning of the financial year was Rs.1,20,000. Drawings during the year is Rs.10,000 and the business earns a Net Profit at the end of the year is Rs.35,000. What is the amount of Closing capital? Rs.1,65,000 Rs.1,45,000 …
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‘A business unit is separated‘ as per Entity concept Money Measurement Concept Full disclosure concept Dual aspect concept
Accounting is: – To keep only records of financial transactions. The writing of transections; The meaning of records; The art of recording, classifying and summarizing transactions;
Which of the following comes under credit column of trial balance? Carriage outward Return Outward Return Inward Carriage Inward
Closing stock in trial balance implies that It is already adjusted with the Purchase It is already adjusted with the Sales It is already adjusted with the opening stock It is already adjusted with the Capital
Gross Profit calculated from Trading A/C Balance Sheet Profit and Loss A/C Trial Balance
Transaction means: change in assets only a monetary change in affairs an event None of these
Goods withdrew by proprietors for personal purpose, signifies Drawings Loans Sales Investment
Capital means the amount contributed by the: Outsider Creditor Owners Employees