Out of the following, which four expenditures would be recorded in the motor van account?
1. Cost Rs. 2,00,000
2. Registration Rs. 5,000
3. Petrol Rs. 2,000
4. Salary to driver Rs. 4,000
5. Writing the company name Rs. 3,500
6. Road tax paid (one time) Rs. 4,500
Select the correct answer:
A. 1, 2, 3 and 4
B. 1, 2, 5 and 6
C. 1, 3, 5 and 6
D. 1, 2, 3 and 5
Answer: Option B
Related Questions on Accounting
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A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Patents, Copyrights and Trademarks are
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
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