If Rent expenses = $5000, Insurance expenses = $4000. What amount will be shown in income statement?

6000

12000

8000

9000

9000

Adjustment and Depreciation Author: rikazzz

A. Asset and liabilities

B. Cash and income

C. Income and liabilities

D. Cash and liabilities

A. beginning of each year

B. end of each year

C. beginning of each month

D. end of each month

A. Overstatement of liabilities

B. Understatement of liabilities

C. Overstatement of expenses

D. Understatement of capital

A. To calculate true profit

B. To show true financial position

C. To reduce tax

D. To provide funds for replacement

A. Asset side

B. Liability side

C. PandL account debit side

D. P andL account credit side

A. Prudence concept

B. Accrual concept

C. Consistency concept

D. Matching concept

A. Machinery account

B. Depreciation account

C. Cash account

D. Repair account

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