WIP stands for

A. Working Progress

B. What-in-Progress

C. Work-in-Progress

D. Works-in-Progress

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  1. Cash is an example of
  2. Trial Balance is prepared after the preparation of Profit and Loss Account.
  3. WDV stands for
  4. Goodwill is not a fictitious asset.
  5. Any type of error affects the agreement of Trial Balance.
  6. Expenditure, which result in acquisition of permanent assets, is a capital expenditure.
  7. Which of the following events is not a transaction?
  8. The first step of accountancy is
  9. Capital of the business is an example of external liability.
  10. Copyright is an example of
  11. The basic unit of measurement of the accounting system is ______________.
  12. Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.
  13. Business ventures, which are started for a predefined period, are known as _____________ventures
  14. Depreciation cannot be provided in case of loss, in a financial year.
  15. WIP stands for
  16. The life span of a company is dependent on the life span of the
  17. Accrual concept implies accounting on cash basis.
  18. E. & O.E.
  19. All events are transactions but all transactions are not events.
  20. Transfer to General Reserve is a charge against
  21. If the totals of debit and credit columns of a Trial Balance are equal, it implies correctness of books…
  22. Which of the following equation(s) is(are) true
  23. The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and useful life is 10 years. The…
  24. Fixed Assets are stated in the balance sheet at their market value.
  25. All credit sales are recorded in
  26. Providing depreciation ensures sufficient cash for asset replacement.
  27. The aggregate of direct material, direct labour and direct expenses is known as
  28. Choose the odd one out
  29. The cost of a machine is Rs.6,00,000. The rate of depreciation is 10%. The depreciation for the 3rd…
  30. According to the Concept of Conservatism, an accountant should