Question # 1

A prospectus for subscription of shares can be issued only by.

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Public company

A private company

Both public and private company

None of these

Capital of the partners are maintained under.

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Fixed capital method

Fluctuating method

By any two of the above

None of the above

Accured subscripttion represents.

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An expense

An income

An asset

A liability.

An additional commission paid to the consignee who gurantees the payment in case of credit sale, is called.

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Bonus

Commission

Del creder commision

Credit commission

Depreciation written off on fixed assets should be recorded in the.

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Income and expenditure account only

Receipt and payment account only

Receipt and payment account and banalce sheet

Income and expenditure account and balance sheet.

North worth of an organizaton means the excess of its total assets over total.

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Liabilities

Income

Expenses

None of the above

Depreciation under diminishing balance method ont he cost price of the fixex asset of Rs. 50.000 after two year @10% will be

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RS. 5,000

Rs. 4050

Rs.4500

Rs. 40,000

Depreciation fund method is also known as.

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Sinking fund method

Annuity method

Sum- of year's digit method

None of these

If any partner takes over any asset at the time of dissolution then it should be debited to.

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Partner's capital accounts

Realization account

Cash account

None of these

premium on issue of shares is shown in.

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Assets side of balance sheet

Liabilities side of balance sheet

Trading account

Profit and loss account

The parties involves in the consignment are.

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Two

Three

Four

Five

Non-profit seeking organization income and expenditure account performs the same function as profit seeking organization's

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Trading and profit and loss account

Balance sheet

Bank account

Petty cash book

If some proparty is owned jointly with out any attention to carry on a business it is called.

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Partnership

Co- ownership

Sole ownership

Agency

In single entrey system statements of assets and liabilities is called.

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Balance sheet

Statement of Affair

Trial balance

Income statement

A statement of assets and liabilities is prepared under the single entery system is called.

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Balance sheet

Financial statement

Statement of affair

Cash transaction

Acceptance received durinthe period must be debited to bills receivable account and credited to.

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Total bills receivable account

Total debtors account

total cash account

Total bills receivabel account

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