- Current Liabilities / Current Assets
- Current Assets / Current Liabilities
- Capital / Current Asset
- None of these
- b
- Audit
- Budget
- Management
- None of these
- b
-
Budget provides different way for planning in future to meet the goals of organization.
- External Management
- Internal Management
- External Auditors
- None of these
- b
-
The Organization held audit as internal audit by the accountant of organization, it is called internal audit.
External Audit always performed by third party.
- FIFO
- Open Competitive Bidding
- Close Competitive Bidding
- LIFO
- b
-
There are four procedure to open Competitive Bidding.
- Single
- Double
- Triple
- Zero
- b
-
Every transaction has double effect. Each transaction will be credit and in another voucher same transaction will be debit
- Cost of goods sold + Opening Stock
- Excess of sales over cost of goods sold
- Net profit less expenses of the period
- Sales less Purchase
- b
- Prepaid Expenses
- Loan from Bank
- Buildings
- Cash Balance
- b
- Assets
- Drawings
- Liabilities
- None of these
- b
-
The drawing is a term which is used in commerce. A owner withdraws money from business for his personal use then this transaction will be called Drawings.
- Agricultural Income
- Presumptive Income
- Income Tax
- None of these
- b
- Items carefully selected from each group
- Purposively selected items for audit
- Randomly selected items for audit
- None of these
- c