Assignment Question, leave the question if not 100% sure, Thank you..

I. Miyuki Company works a retail store.

Everything is offered reliant upon a 12% worth added charge, which the component assembles and records as arrangements pay.

The component records quarterly arrangements cost structures when due by the twentieth day following the completion of the business quarter.

Regardless, according to state requirements, the substance dispatches regard added charge accumulated by the twentieth day of the month following any month such arrangements outperform P50,000.

The substance acknowledges these portions as credits on quarterly arrangements appraisal structures.

The value added charges paid by the component are charged against bargains pay.

Following is a month to month layout appearing in the chief quarter 2015 arrangements pay account:

Charge

Credit

January

-

560,000

February

60,000

392,000

Walk

-

448,000

On March 31, 2015, what entirety should be represented as worth added charges payable?

a. 150,000

b. 168,000

c. 108,000

d. 90,000

II. Trade discount is allowed at the hour of offer of items.

(A) is recorded in bargains book

(B) is recorded in genuine cash book

(C) is not recorded in books of records

(D) is recorded in journal

III. Which of the going with will achieve struggle of Trial Balance?

(A) Sales return treated as purchase.

(B) Purchase return treated as arrangements.

(C) Ram a/c wrongly credited as opposed to Sham a/c

(D) Under projecting cash book by 1,100

IV. What is joint undertaking with co-experience account?

(A) Nominal account

(B) Personal account

(C) Real Account

(D) Memorandum Account

V. Which of the going with term is appropriate about move?

(A) Sale of items

(B) Hypothecation of items

(C) Shipment of items

(D) Mortgage of items

VI. Goods purchased from Mr. A yet wrongly entered in the record of Mr. B. The rec tification of bungle will result in

(A) increase in net advantage

(B) decrease in net advantage

(C) no sway on net advantage

(D) either An or B

VII. When cash got for organizations conveyed beforehand

(A) Owner's worth augmentations

(B) Current asset increases

(C) Profit increases

(D) None of the previously mentioned

VIII. Stock in the hand of the delegate is regarded

(A) at market cost or cost esteem whichever is less.

(B) at selling cost.

(C) at cost after thought of proportionate non-rehashing costs.

(D) at move cost.

IX. Noting charges are paid by

(A) the drawee

(B) the bureau

(C) the payee

(D) the acceptor

X. The valuation methodology for stock is cost or net plausible worth, whichever is lower. The strategy follows as indicated by

(A) Historical Cost Concept

(B) Going Concern Concept

(C) Money Measurement Concept

(D) Conservatism Concept