Multiple choice

If the income shown in the income and expenditure account for entrance fees is Rs. 24,000 and 60% of the entrance fees received has been capitalised, find out the actual entrance fees received.

  1. Rs. 14,400

  2. Rs. 9,600

  3. Rs. 24,000

  4. Rs. 38,400

  5. Rs. 40,000
Reveal answer Fill a bubble to check yourself
E Correct answer
Explanation

Amount received is 24,000 * 100/60, i.e. Rs. 40,000.

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