In a period of declining price, which of the following methods would result in higher profit?
FIFO
Simple average
LIFO
Weighted average
Correct answer is A
No explanation has been provided for this answer.
The type of expense charged against administration of a firm is the?
Repairs on building
Interest paid on loan
Discount allowed
Tax expense
Correct answer is A
No explanation has been provided for this answer.
iii and v
ii and i
iv and v
i and iv
Correct answer is D
No explanation has been provided for this answer.
iii and v
ii and iii
iv and v
i and ii
Correct answer is A
No explanation has been provided for this answer.
In a bank reconciliation statement, interest charged for overdrawn balances should be added to the?
Balance as per bank statement
Bank balance as per adjusted cash book
Aggregate balance as per cash book
Bank balance as per cash book
Correct answer is A
No explanation has been provided for this answer.