A. The machinery gets old with time
B. Of physical wear and tear
C. Of fall in the market value of the asset
D. The plant is not as good as new one
A. Carriage inwards
B. Carriage outwards
C. Discount received
D. Discount allowed
A. Sales -purchases 895
B. Opening stock – closing stock + purchase – returns out
C. Purchases – returns out + closing stock If.
D. Gross profit – expenses
A. All assets: All Liabilities
B. All assets: Current liabilities
C. Current assets: All liabilities
D. Current assets: Current liabilities
A. All petty cash receipts
B. Petty transactions
C. Cash receipts from customers
D. All petty cash expenses
A. Outstanding interest
B. Wages account
C. Cash account
D. Charity account
A. Compulsory
B. Not compulsory
C. Compulsory in certain cases
D. None of these
A. Balance sheet
B. Statement of financial position
C. Income statement
D. Statement of cash flow
A. For the year ended
B. As on a specific date
C. With no specific date
D. None of these