Question # 1

the loss whihc arises due to natural causes such as evaporation etc is called.

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Abnormal loss

Normal loss

Additional loss

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

A partner who is newly admitted to the firm with the consent of all the parties is called.

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Salaried partner

Incoming partner

Junior partner

Minor partner

We cannot prepare the trial balance and precise balance sheet under,

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Single entry system

Double entry system

"a" and "b"

Barter system

The method is specially suited to natural surces is said to be

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Annuity method

Depletion method

Revalution method

Sum of digit method

The debentures which are repayable at the end of a specified period are termed as.

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Redeemeble debentures

Irredeemable debentures

Repayable debetures

None of these

Which of the following method is suitable for charging depreciation an machinery and furniture.

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Straight line method

Diminishing balance method

Depreciation on fixed method

Annuity method

Value of the good will is calculated under capitalization formula.

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Average profit / reasonable return x 100

Resonable return / average profit x 100

Averager profit x 100 / resonable return

None of these

The relation ship between consignor and consignee is thet of.

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Buyer and seller

Debtorsde creditor

Whole seller or retailer

Principal and agent

Those debentures wihch carry no security as to payment of interest or repayment of principal, are known as.

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Morigage debentures

Secured debentures

Simple or naked debentures

None of these

The owner of the partnership are called as.

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Member

Partners

Share holder

None of these

All transactions relating to non-profit seeking concerns are recorded in the books of account strictly according to

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Single entry system

Double entry system

Treble entry system

"a" and "b"

On the detah of the partner the amount of the joint policy credited to the capital account of.

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Remaining partners capital account

All partners capital accounts

Deceased parners capital account

None of these

Good will is.

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Tangible asset

Imtamgon;e asset

Wasting assets

Frictious assets

If the debit side of the income and expenditure account is greater thanthe credit sideit is termed as.

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Surplus

Deficit

Assets

Liabilities

The Decision in Garner Va. Murray was given in.

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1905

1904

1804

1933

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