Administrator

258. Cash book records

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Cash payments
Cash Receipts
Cash payments and cash receipts
Neither cash payments nor cash receipts
✅ The correct answer is C.
Cash book records Cash payments and cash receipts. A Cash Book is a type of subsidiary book where cash (or) bank receipts and cash (or) bank payments made during a period are recorded in a chronological order.

259. Double entry accounting system includes

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Accrual accounting only
Cash accounting only
Both cash and accrual accounting
None of the above
✅ The correct answer is C.
Double entry accounting system includes both cash and accrual accounting. Double entry, a fundamental concept underlying present-day bookkeeping and accounting, states that every financial transaction has equal and opposite effects in at least two different accounts.

2758. One characteristic not typical of oligopolistic industry is

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Too much importance to non-price competition
Price leadership
Horizontal demand curve
A small number of firms in the industry
✅ The correct answer is C.
One characteristic not typical of oligopolistic industry is Horizontal demand curve. The horizontal demand curve indicates that the elasticity of demand for the good is perfectly elastic. This means that if any individual firm charged a price slightly above market price, it would not sell any products.

2759. In capital budgeting, an internal rate of return of project is classified as its

by
external rate of return
internal rate of return
positive rate of return
negative rate of return
✅ The correct answer is B.
In capital budgeting, an internal rate of return of project is classified as its internal rate of return. Internal rate of return (IRR) is the interest rate at which the NPV of all the cash flows (both positive and negative) from a project or an investment equals zero.

2760. Intangible assets such as copyrights, trademarks and patents are applicable for

by
depreciation
amortization
stock amortization
perishable assets
✅ The correct answer is B.
Intangible assets such as copyrights, trademarks and patents are applicable for amortization. Amortization is an accounting technique used to periodically lower the book value of a loan or intangible asset over a set period of time.