ONLY MCQS PLEASE

43.The trial balance of Bronze Meadow Ltd on 31 March 2020 is shown below. Please note: (The question has more than one answer, in that case, you have to select all of the correct answers to gain marks.) A. Administrative expenses (including depreciation) 36,000 B. Rent paid 12,000 C. Motor vehicle expenses 21,000 D. Salaries 106,800 E. Insurance 12,000 F. Cost of goods sold 489,000 G. Sales revenue 804,000 H. Motor vehicles (net book value) 84,000 I. Accounts payable 102,000 J. Accounts receivable 122,700 K. Buildings at valuation 600,000 L. Cash at bank 42,000 M. Share capital 720,000 N. Closing inventories 31 March 2020 90,000 O. Tax payable 60,000 P. Loss on slae of an asset 60,000 Q. Selling and distribution costs 40,500

(i) Identify the EXPENCES in the above Trial balance

G

J

I

P

C

N

D

A

Q

E

H

F

O

L

M

B

K

44.In the year to 31 December 20X9, Jason recorded some capital expenditure as revenue expenditure. What is the effect on his profit for the year to 31 December 20X9 and his net assets at that date? Profit Net assets Profit Assets A Overstated Overstated B Overstated Understated C Understated Overstated D Understated Understated.

Both B and C

Both A and B

A

D

Both A and C