- (A) The bad debt expense is not matched with the related sales
- (B) Revenue is overstated in the year of sales
- (C) It violates the matching principle of accounting
- (D) All of the above
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- (A) Debit Profit and Loss Account and deduct the provision from debtors
- (B) Credit Profit & Loss Account and deduct the provision from debtors
- (C) Credit Profit and Loss Account and add the provision to debtors
- (D) Debit Profit & Loss Account and add the provision to debtors
- (A) Credit balance of Provision for Bad Debts Account
- (B) Debit balance of Provision for Bad Debts Account
- (C) Debit balance of Bad Debts Account
- (D) Debit balance of Discount on Debtors Account
- (A) Finished goods
- (B) Work-in-process
- (C) Stores and spares
- (D) Advance payments made to suppliers for raw materials
- (A) Written down to zero or its scrap value
- (B) Shown in the Balance Sheet at its replacement cost
- (C) Shown in the Balance Sheet at cost, but classified as a non-current asset
- (D) Carried in the accounting records at cost until it is sold
- (A) Balance Sheet
- (B) Directors‘ report
- (C) Notes on account to Balance Sheet
- (D) Chairman‘s report
- (A) Shown as a deduction from contract work-in-progress on asset side
- (B) Shown as a liability
- (C) Credited to P&L A/c
- (D) Either
- (A) Asset side
- (B) Liability side
- (C) Netted from Capital
- (D) Profit & Loss A/c
- (A) Assets side
- (B) Liability side
- (C) Profit & Loss A/c
- (D) Debited to Capital A/c
- (A) Opening Stock
- (B) Carriage inward
- (C) Wages & Salary
- (D) Postage & Stamps
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