Question # 1

Under single entry system sometimes,

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Double aspects of a transaction are recorded

Single aspect of a transaction is recorded

No aspect of a transaction is recorded

All of the above

A certificat issue by the company under its seal acknowledging a debt due by it to its holder, is called.

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Debenture

Certificate of commencement

Acknowledge certificate

Noen of these

Accured subscripttion represents.

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An expense

An income

An asset

A liability.

The owner of the partnership are called as.

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Member

Partners

Share holder

None of these

The powers of company are governed by the.

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Sharehoders

Memorandum of association

Prospectus

Articles of association

Receipt and payment account starts with the.

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Opening balance

Ending balance

Beginning or ending balance

None of these

In single entery system only.

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Personal account are maintained

Real account are maintained

Nominal accounts are maintained

None of the above

The parties involves in the consignment are.

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Two

Three

Four

Five

Reliization account is opened to find out gain or loss at the time of.

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Admisson of a new partner

Retirement of the partner

Death of the partners

None of these

How many mathods are available to calculate the profit or loss under single entery system.

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One

Two

Three

Four

The consignment inward book or journalis matinained by.

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Consignor

Consignee

Customer

Debtors

The value of an asset at the end of the working life is called.

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Book value

Scrape value

Market value

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

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

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At discount

At primium

At par

None of these

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 case of Garner Vs. Murray rule, the decision was given is.

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Mr. Justice james

Mr Garner

Mr. Justice joyee

Mr. Murray

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