Question # 1

Example of non-profit making organization

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Fan factory

Sugar industry

Hospital

Shoe factory

The opening and closing balance of bills Receivable can be calculated by preparing the.

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Total debtors accounts

Total creditors account

Bills Recivable accounts

Salaes accounts

Income and expenditure account is equivalent to the.

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Receipt and payment account

Balance sheet

Cash book

Profit and loss account

A company comes into existence when the registrar issue the

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Prospectus

Certificate of incorporation

statement in Lieu of prospectus

Companies ordinance

Single entry system is generally adopted by,

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Small business concerns

Large business concerns

Medium business concerns

All of the above

Receipt and payment account is prepared at the.

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Start of the year

End of the year

Mid of the financeial year

None of these

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

Not worth method is equal to.

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Liabilities - assets

Assets- liabilities

Capital + assets

None of these

When the cash is received from the sale of the goods by the consigneee on behalf the consignor then it will be debited to.

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Cash account

Consignor 's personal account

Consignment account

None of these

The asses which have physical existence are called.

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Intangible assets

Intangible fixed assets

Tangible fixed assets

Both tangible or intangible assets

Excess of assets over liabilities is an indication of.

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Solvency

Insolvency

Deficiency

Loss

Partner's capital are affected due to.

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Admission of a partner

Retirement of the partner

Death of a partner

All of the above

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

In consginee's books the payment of expense by consignee should be debited to

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Consignment account

Consignnors account

Cash account

None of these

Income and expenditur eaccount is prepared on.

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Cash basis

Accrual basis

Cahs of accural basis

None of these

The Decision in Garner Va. Murray was given in.

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1905

1904

1804

1933

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