Accounting MCQ Questions and Solutions with Explanations

Section 1 Section 2 Section 3 Section 4 Section 5 Section 6

36.
Capital expenditures are recorded in the

A. Trading account

B. Profit & Loss account

C. Balance sheet

D. All of the above

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37.
Recovery of bad debt is a

A. Revenue expenditure

B. Revenue receipt

C. Deferred expenses

D. Capital receipt

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38.
Bills receivable is a

A. Intangible fixed asset

B. Tangible fixed asset

C. Current asset

D. Investment

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39.
The party who sends the goods for sales on fixed commission basis is known as

A. Drawer

B. Drawee

C. Payee

D. Consignor

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40.
Endorsement, discounting and collection of bills of exchange is made by

A. Debtors

B. Creditors

C. Drawee

D. Drawer

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Accounting MCQ Questions and Solutions with Explanations | Commerce

36. Capital expenditures are recorded in the

Answer & Solution

37. Recovery of bad debt is a

Answer & Solution

38. Bills receivable is a

Answer & Solution

39. The party who sends the goods for sales on fixed commission basis is known as

Answer & Solution

40. Endorsement, discounting and collection of bills of exchange is made by

Answer & Solution

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36.
Capital expenditures are recorded in the

37.
Recovery of bad debt is a

38.
Bills receivable is a

39.
The party who sends the goods for sales on fixed commission basis is known as

40.
Endorsement, discounting and collection of bills of exchange is made by