Question # 1

the activities of non -trading concern are managed by the.

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Directors

Member

governing body

Promoters

The maximum number of member in case of public limited company can be

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Forty

Fifty

Sixty

No restriction on maximum number

Acceptance received durinthe period must be debited to bills receivable account and credited to.

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Total bills receivable account

Total debtors account

total cash account

Total bills receivabel account

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

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Unlimited

Limited

Compulsory

None of these

In case of los on revaluation of assets and liabilities should be debited to.

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Retiring partners capital accounts

All partners capital accounts

Remaining patners capitala account

None of these

Non-profit making organizations

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Buy goods

Manufacture goods

Sell goods

None of these

In case of retirement the amount of the general reserve any other profit is credited to all partners in.

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Sacrificing Ratios

New profit sharing ratios

Old prift sharing ratios

Gaining ratios

Consignee account is of the natur eof.

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Personal account

Nominal account

Real account

None of these

In the absence of an agreement partners shall

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Be paid salaries

Not to be paid the salaries

Be paid salaries by the consent of the pariners

Be paid salaris to thos who worked for the firm

Maximum numebr of the partners in an ordinary Partinership.

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Ten partners

Twentry partners

Thirty partners

Fourth partners

Bills payable issued durint the period must be debited to total creditors account credited to.

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Bills payable account

Bills receivable account

Debtora account

Cash account

Subscription Received in advance is.

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An income

An assets

Liability

An expenditure

Non- trading concern prepare.

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Profit and loss account

Income and expenditure account

Manufactureing account

None of these

The amount of good will broght in cash by nw partner will be credited to old partner in.

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Gaining Ratio

New Ratio

Old Ratio

Sacrifice Ratio

Depreciation caused by some external amoutn of anual depreciation gradully.

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Increase

Decrease

Remain constant

None of these

The gradual decrease in the value of the fixex assets due to its use in the business is called.

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Depreciation

Depletion

Amorization

Fluctuation

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