Question # 1

The part of the issued capital which has been taken up or subscribed by the public is called

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Issued capital

Authorized capital

Subscribed capital

Paid up capital

If the price required to be paid to the company for the share is more than nominal value of that share, it is called.

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At discount

At premium

At par

None of these

Single entry system is generally adopted by,

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Small business concerns

Large business concerns

Medium business concerns

All of the above

A person who is elected to run the club

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Treasurer

Secretary

Chairperson

President

Consignor is also called.

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Principal

Agent

Debtor of the consignee

Creditor of the consignee

The liability of the shareholder of a public limited company is.

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Unlimited

Limited

Compulsory

None of these

Registered company is

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2

3

4

5

Income and expenditure account is usually accompanied by.

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Trail balance

Balance sheet

Cash book

None of these

Amount of to the out going partner is shown in the balance sheet as his.

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Liability

Loan

Capital

Assets

Net worth is equal to,

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Assets - Liabilities

Liabilities - Assets

Liabilities + Capital

Capital + Assets

To make provision for the replacement of the assets. the method is to be ysed is.

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Written down value method

Annuity method

Sinking fund method

Insurance policy method

The income through admissionfee shoul dbe.

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Capitalized

Treated as revenue

Treated as liability

An expenses

Equity share holders are.

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Creditors

Owners

Customers of the company

Debtors of the company

Closing capital in single entry system is calculated by preparing,

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Opening statement of affairs

Closing statement of affairs

Opening balance sheet

Closing balance sheet

Interest on dividend is paid.

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At the end of financial period

During the fiancancial year

At the time of incorporation

At the time of winding of company

Depreciation caused by some external amoutn of anual depreciation gradully.

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Increase

Decrease

Remain constant

None of these

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