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Financial Forensics · Quiz 1 · 26 Feb 2023 · January 2023 term · Set QPE2

Question 21: Total salaries accrued for the month is ₹ 65,000, but on…

Question 21

+1 markOne correct option

Total salaries accrued for the month is ₹ 65,000, but only 50% of it was paid at the end of the month and the rest was outstanding. The expenses on salaries in the income statement for the month is

  1. A

    ₹ 32,500

  2. B

    ₹ 65,000

  3. C

    ₹ 16,250

  4. D

    Not an expense till the full amount is paid

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Correct answer

  • B

    ₹ 65,000

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Question 21 of 25 in the IIT Madras BS Financial Forensics (Financial Forensics) Quiz 1 paper sat on 26 Feb 2023, in the January 2023 term (IIT M DEGREE AN4 EXAM QPE4 26 Feb 2023). It carries 1 mark.

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