Miscellaneous in Commerce MCQ Questions and Solutions with Explanations | Commerce

A. Fixed asset

B. Current asset

C. Fictitious asset

D. Wasting asset

A. Increases assets

B. Results in no change in the total assets

C. Decreases assets

D. Increases liability

A. Debiting salary a/c; crediting cash a/c

B. Debiting cash a/c; crediting salary a/c

C. Debiting employee a/c; crediting cash a/c

D. Debiting employee a/c; crediting salary a/c

A. Decreases the Total Assets

B. Increases the Total Assets

C. Results in no change in the Total Assets

D. Increases the Total Liabilities

A. Convention of conservatism

B. Convention of full disclosure

C. Convention of consistency

D. None of these

A. Public undertakings only

B. Large business enterprise only

C. Small business concerns only

D. Manufacturing and service concern

A. Folding letters

B. To sew the envelope

C. In sealing the envelops

D. Printing of stamp on envelops

A. Goodwill

B. Sales

C. Accounts Receivable

D. Both Goodwill and Accounts Receivable

A. Planning

B. Decision making

C. Control

D. All of these

A. Cash is received

B. At the end of accounting period

C. When they are earned

D. When interest is paid