Overriding commission is generally calculated on
A. Cash sale only
B. Total sales exceeding invoice value/cost
C. Credit sales
D. None of the above
Answer: Option B
Solution(By Examveda Team)
Overriding commission is generally calculated on Total sales exceeding invoice value/cost. Overriding Commission is the extra commission allowed to the consignee in addition to the normal commission usually for making extra efforts to sell a new product in the market.This Question Belongs to Commerce >> Accounting
Accounting provides information on
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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