Question # 1

The joint stock company is formed under companies ordiance.

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1984

1974

1884

1962

The balance of realization account is transferred to the capital accounts of the partners in.

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Capital ratio

Equality

Interest ratio

Profit sharing ratio

Subscription Received in advance is.

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An income

An assets

Liability

An expenditure

A partner does not take an acitive partner is the managment firm is called.

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Active partner

Sinior partner

Darment of sleeping partner

Nominal partner

In case of dissolution, assets sold for cash are debited to.

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Realization account

Cash account

Assets account

None of these

In increased net worth method, profit or loss is calculated by preparing,

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Income and expenditure account

Profit and loss account

Statement of profit or loss

Balance sheet

In the absence of an partnership agreement the pfofit and losses are divided by the partners in the ratio of.

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Capitals

Profit and loss ratios

Equality

Time devoted by each partner

The debentures which are payable to bearere, are termed as.

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None transfereble

Registered debentures

Bearer debentures

Non - bearere debentures

In the absence of an agreement, the share of new partner in patnership will be.

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In the portion of capital

Equal

According to work

None of the above

The excess of total assets over total liabilituies of a concern is called.

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Surplus

Deficit

Capital fund

Profit

Amount received by the concern as per the will of the donor is known as.

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Lagacy

Donation

Subscription

None of these

Arithmetical accuracy of the books of accounts cannot be checked under.

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Single Entry system

Double entery system

None entery system

Both a and b

Income and expenditure account is equivalent to the.

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Receipt and payment account

Balance sheet

Cash book

Profit and loss account

The Receipt and payment account is the summery of the

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Cash book

Balance sheet

Trqail balance

Proft and loss account

The extra amount charged fromt he new partner over and above the capital is for.

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Purchase of Machinery

Good will

Purchaser of furniture

Payment of liabilities

Under single entry system sometimes,

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Double aspects of a transaction are recorded

Single aspect of a transaction is recorded

No aspect of a transaction is recorded

All of the above

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