Miscellaneous in Commerce MCQ Questions and Solutions with Explanations | Commerce

A. It is probable that the future event will occur

B. The amount of the liability can be reasonably estimated

C. Both A and B

D. Either A or B

A. a-3, b-1, c-2, d-4

B. a-4, b-2, c-3, d-1

C. a-4, b-3, c-2, d-1

D. a-3, b-4, c-2, d-1

A. Trading a/c

B. Balance sheet

C. Profit & loss a/c

D. Trial balance

A. Remains fixed

B. Fluctuates with volume of production

C. Varies in consideration with the volume of sales

D. None of the above

A. Electrostatic copying

B. Xeroxography

C. Micro-filming

D. Photocopying

A. Customer a/c

B. Sales return a/c

C. Goods a/c

D. Purchase return a/c

A. Reinvestment of income in the business

B. Transfer to accumulation

C. Non-payment of dividend

D. Earning illegal income

A. Logbooks

B. Data material held in electronic from

C. File noting

D. Circular

A. 5 years

B. 5.2 years

C. 4.8 years

D. None of these

A. An asset in the balance sheet

B. A liability

C. By adjusting it in the P & L a/c

D. Both B and C