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Q. From the following details ascertain the adjusted bank balance as per Cash Book – overdraft as per Cash Book 1,60,000; cheque received entered twice in the Cash Book 10,000; credit side of bank column cash short by 1,000; bank charges amounting to 400 entered twice:

Q. A purchase of 49,500 from Shiva was recorded in Purchases Book as 59,400, the profit would show

Q. What is the nature of joint venture with co-venture account?

Q. X sends out certain goods to Y, costing 1,50,000 at cost plus 25% on invoice price. ¾ of the goods were sold by R at 1,76,000. Commission 5% upto invoice value a nd 10% of any surplus above invoice value. The amount of commission will be

Q. Which of the following item is shown in the Receipt and Payment account?

Q. Trade discount is allowed at the time of sale of goods.

Q. Import duty of raw material purchased is a

Q. Any income arising from special fund will be credited to

Q. The determination of expenses for an accounting period is based on the concept of 3

Q. Sales of 6,570 is recorded in the sales book as 6,750. Such Error is known as