Lecturer Commerce Solved Past Paper MCQs Online Test No. 36

A sum of Rs.2000 paid as wages to repair office furniture should be debited to:

The cost of furniture purchased for sale is:

Any expenditure incurred in acquiring the right to carry on a business is:

Cost of goods purchased for resale is an example:

Preliminary expenses are:

The capitalized expenditures are shown is:

Distinction between capital and revenue items is important for the preparation of:

Which on of the following is not appear in the balance sheet:

Any expenditure incurred in achieving operating economy is known as:

Some revenue nature expenditures are directly connected with fixed assets and are fully added to the cost of assets are:

Receipt on account of fixed asset is a:

Rs.3000 spent on the repairs before using the second hand machinery purchase recently is a:

Cartage paid on the new machine is:

Receipts which are non-recurring by nature and whose benefit is enjoyed over a long period are called:

An expenditure incurred in increasing the efficiency of a fixed asset is called:

Expenditure incurred in acquiring the patents right for the business is an example of:

Freight paid on a new machine will be debited to:

A receipt is capital in nature, when:

All revenue expenditure and receipts are taken to:

Discount allowed on issue of shares is an example of:

Depreciation on fixed assets is an example of:

Rs.5000 spent on the replacement of worn out parts of the machinery is charged to:

Expenses incurred in manufacturing products is a:

Receipt which are recurring by nature and which are available for meeting all day to day expenses of a business concern are known as:

Heavy expenditure on advertisement of a new product is a: