Q41. The due date for a bill of exchange falls on a public holiday. It therefore becomes due on the ---
1) Next working day
2) Previous day
3) Previous working day
4) Next day
Q42. Entrance fees received by a Non- trading
Organization is -----
1) Revenue Receipt
2) Capital Receipt
3) Operating Profit
4) Deferred Income
Q43. Depreciation is credited to_______
1) Asset a/c
2) P&L a/c
3) Provision for depreciation a/c
4) Both a & c above
Q44. Which of the following is revenue
expenditure?
1) Purchase of plant and machinery
2) Heavy expenditure for launching a new product
3) Repairs to plant & machinery
4) Freight charges for installing machinery at
the factory site
Q45. EMI refers to _______
1) Earning monthly interest
2) Equal monthly Installment
3) Equated monthly Installments
4) Equated monthly interest
Answers:
