SENIOR AUDITOR PAST PAPERS
Senior Auditor Past Papers
چار آپشن میں سے کسی ایک پر کلک کرنے سے جواب سرخ ہو جائے گا۔
- To show the previous profit
- To calculate net profit
- To reduce tax
- None
اس سوال کو وضاحت کے ساتھ پڑھیں
Explanation
Depreciation helps to tie the cost of an asset with the benefit of its use over time.
In other words, each year, the asset is put to use and generates revenue, the incremental expense associated with using up the asset is also recorded.
- Debit unearned revenue ,credit revenue
- Debit Insurance expense, credit prepaid insurance
- Debit cash, credit unearned revenue
- None
اس سوال کو وضاحت کے ساتھ پڑھیں
Explanation
The transactions which are recorded using adjusting entries are not spontaneous but are spread over a period of time.
An adjusting entry always involves either income or expense account.
