Question 10
Question 10 of 30
Question image for Q10
You can solve this MCQ to see its answer, but your attempt won't be logged unless you login
No letter options?
Older MCQs might not have the typical A, B, C, D choices. They have choices 1, 2, 3, and a combination of them is the answer. Below is the key that maps such combinations to the answer.
A 1, 2 and 3 are correct
B 1 and 2 only are correct
C 2 and 3 only are correct
D 1 only is correct
Topics Tested
1. Financial accounting (...
1.5. Preparation of financial state...

the provisions of the Partnership Act 1890 in respect of partners’ salaries, division of profit or loss, interest on partners’ loans, interest on capital and interest on drawings

4. Cost and management ac...
4.3. Budgeting and budgetary contro...

how to prepare a statement reconciling the flexible budgeted profit with the actual profit

3. Financial accounting (...
3.1. Preparation of financial state...

how to account for manufacturing profit and the elimination of unrealised profit from unsold inventory