Question # 1

Income and expenditure account is equivalent to the.

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Receipt and payment account

Balance sheet

Cash book

Profit and loss account

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

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At discount

At premium

At par

None of these

Cash book is prepared to find out the figure of.

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Opening capital

Crosing cash balance

Net profit

Finaincial position

Subscription otstanding in the beginning are shown in the

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Trading account

Income and expenditure account

Balance sheet

Profit and loss account

Goods sent on consignment should be debited int he books of the consignor.

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Consignee account

Consignment account

Goods sen ton consignment

Consignor account

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

In the absence of an agreemetn, interest on loan advanced by the partner to the firm is allowd at the rate of.

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5 persent

6 persent

8 persent

9 persent

Registraion of the firm.

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It is legally necessary

It is optional

It depends on the will of the partners

It depends uopon the will of theemployee

The profit on revaluation of assts and liabilities on the retirement of the partners should be credited to the capital account of.

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All the partners

Retiring partner

Remaining partner

None of these

The retired is one who has

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Died

Withdraw his capital

Bought his capital

Decreases his capital

The main sources of income of for on -trading concern is.

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Subscriptions

Donations

Sales

Dividends on investment

Kind of company is.

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2

3

4

5

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