- The chief executive officer salary
- A marketing cost related to selling the product
- The salary of production line supervisor
- Research and development cost of a new product
- c
-
Insurance, Utilities, Rent, HR Expense, Office Exp, Repair and Maintenance Exp and Taxes are included in Overhead Expenses.
Admin
Excess of debit over credit is called:
- Closing balance
- Debit balance
- Opening balance
- Credit balance
- b
-
Debit Balance is a balance in the left side of Account.
The cost of the asset after the expiry of its useful life is called______?
- Written down value
- Expired value
- Residual value
- None of the given options
- c
The main objects of investigation is ____?
- To discover errors and frauds
- To prevent errors and frauds
- To verify statements
- All the above
- d
Capital reserves are created out of profits of ______?
- A revenue nature
- A capital nature
- Contingency reserve
- A secret reserve
- b
Preliminary expenses are the best example for ______?
- Intangible asset
- Fictitious asset
- Wasting asset
- Floating asset
- b
-
Factitious Assets are those assets which has no tangible existence.
A sale of Rs. 50000 to Mr. A was entered as a sale to Mr. B. This is an example of:
- Error of principle
- Error of commission
- Error of omission
- Compensating error
- b
Prospectus is a document _______?
- Containing details about the manufacturing process of the company
- Containing details about the share capital of the company
- Containing the information of the sales
- Containing the rules and regulations of the company
- b
Auditor is ________?
- The agent of the central government
- A member of the company
- The agent of the of the company
- An assistant to accountant
- c
For which of the following organization Audit is optional:
- Organization
- Partnership concern
- Joint stock company
- None of these
- b
