Fundamentals of Accounting MCQs
21. Question
In case of a Bill of Exchange__________ is required and in case of Promissory Note ___________ is required
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22. Question
Super profit Fs.50,000; Present value of Annuity of Re. 1 for four years is Rs. 3.4651 @ 6% p.a. Find out the value of goodwill under annuity method.
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23. Question
Cash Sales As.50,000, Credit Sales As.3,50,000, Sales returns Rs.50,000. Credit sales include goods costing Rs.40,000 sent on approval basis at mark up of 20% on sale price and not yet approved. Then the net sales will be
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24. Question
Contingent asset will be disclosed________
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25. Question
claim received on account of machinery completely destroyed by fire is a _______
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