Which is true about carriage outwards

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Problem 1: All of the following are classified as non-current assets except ________.

A. Fixed deposit

B. Stationeries

C. Patents

D. Office equipment

Problem 2: Which of the following is true about carriage outwards?

A. The cost of carriage outwards is recorded in the Statement of Financial Position.

B. The cost of carriage outwards is part of the cost of goods sold.

C. Carriage outwards is recorded in the Statement of profit or Loss as operating expenses.

D. Carriage outwards refers to the cost of transporting goods from a supplier to the business.

Problem 3: Which of the following is a current asset?

A. Office equipment

B. Bank overdraft

C. Account Receivable

D. Account payable

Reference no: EM132946403

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