Question # 1

The charter of the company containing the objects of whihc for company is being formed is called.

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Articles of association

Prospectus

Memorandum of associaton

Notice

Depreciation arise because of

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Due to fall in the market value of fixex assets

Due to physical wear and tear of the assets

Due to fall in the market value

None of these

The Decision in Garner Va. Murray was given in.

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1905

1904

1804

1933

The retired is one who has

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Died

Withdraw his capital

Bought his capital

Decreases his capital

Under annuity method the amount of depreciation is.

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Increasing every year

Decreasing every year

Fixed for all the year

None of these

Subscription Received in advance is.

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An income

An assets

Liability

An expenditure

The owner wquity in a company is commonly called.

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Shareholder equity

promotors equity

Directors equity

None of these

Joint life policy account after the maturity of the policy shoul dbe transferred to the capital accounts of the partners in.

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Capital ratios

Old profit sharing ratios

New profit sharing ratio

Gaining ratios

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

Receipt and payment account includes.

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Revenue items

Capital items

Both capital and Revenue items

None of the above

The periodical report which is prepared by consignee and send to consignor, which shows the detail about the sales of goods is called.

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Sales account

Performa invoice

Account sales

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

On the admission of a new partneer the decreasein the value of assets is debited to.

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Revaluation account

Assets account

Old parner's capital account

New partner capital account

In case of del creder commission the liability of bad debts is on

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Consignee

Consignor

Both on consignee and consignor

None of the above

In single entry it is not possible to prepare

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Trial balance

Trading account

Profit and loss account

Balance sheet

Receipts and payments account records transaction relating to

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Past year

Future year

Present year

All of the above

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