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Sample Paper-QUIZ: D Sale of A Fixed Asset For Cash
Sample Paper-QUIZ: D Sale of A Fixed Asset For Cash
Sample Paper-QUIZ: D Sale of A Fixed Asset For Cash
Question 1
Which of the following transactions will result in an increase in the working capital ?
Question 2
Question 3
True False
Are these statements true or false ?
Question 4
When a bad debt is written off which two ledger accounts are affected ?
Which of the following current assets are omitted when calculating the quick assets ratio ?
A cash
B Stocks
C Debtors
D None of the above
Question 6
Question 7
Question 8
Question 9
Question 10
If the purchase of a battery for a motor vehicle is recorded in the motor vehicles A/C it would result in
Question 11
True False
(a) A profit & loss A/C will always have a credit balance
Question 12
Payment of a liability
Question 14
The current year’s dues of a long term debt is normally classified under
A Current assets
B Current liabilities
C Long term liabilities
D Owner’s equity
Question 15
A Trader bought goods from an importer for listed price of Rs.200, 000 on 1.1.2009. The importer allowed a
trade discount of 20%. He is entitled to a cash discount of 10% if he settles the dues within a month. He
settled this due on 15/1/2009. What is the amount he paid?
A Rs.150,000
B Rs.160,000
C Rs.144,000
D Non of the above
Question 16
Rs. Rs.
Closing stock 5,000 selling & Distribution expenses 1,200 Carriage inwards
2,000 Administration expenses 2,400
30,000