WorksheetsAccounting for Managers
Total questions: 6
Worksheet time: 3mins
XYZ Company has sold goods worth Rs. 50 crore on credit to Mr. A. Mr. A in this specific case is company's
Creditor
Debtor
Need more information
None of these
Financial Accounting does not record non-financial transactions as per which concept?
Going Concern Concept
Accrual Concept
Cost Concept
Money Measurement Concept
Wages paid during the year will impact which part of the Financial Statements?
Revenue
Debtors
Equity
Loan
Expenses must be recorded at the same time as the revenue to which they correspond as per which principle?
Consistency Concept
Going Concern Concept
Matching Concept
None of these
Mr. A has started a company by depositing Rs. 100 crore into the company’s bank account as his investment. In accounting terms, this Rs. 100 crore will be classified as:
Share Capital
Profit
Sales
Owner’s Drawings
Economic resources of an enterprise that can be usefully expressed in monetary terms are called?
Liability
Share Capital
Expense
None of these
