Question # 1

Not worth method is equal to.

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Liabilities - assets

Assets- liabilities

Capital + assets

None of these

The joint stock company is formed under companies ordiance.

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1984

1974

1884

1962

In partnership minimum limit of partners is.

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Two (02)

Five(5)

Ten (10)

Tweleve (12)

The losses arise in consignment transactions, such as loss of goods in transit, theft, goods damaged or destroyed by fire etc are.

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Normal losses

Additional loss

Abnormal losses

Both abnormal and normal loss

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

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

In consignmetn all the expenses either paid by the consiger himself or by the consignee are born by the.

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Consignor

purchaser

Consignee

None of these

As per the decision in Garner Va. Murray the solvent partner bring in cash equal to their share of.

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Realization loss

Profit ratio

Capital ratio

None of these

Over riding commission is calculated on.

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Cash sales only

Credit sales only

Total sales

None of the above

Profit on revalutin is to be caredited to old partners in their

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Sacrificing ratio

New profit shiaring ratio

Old prift sharing ratio

Equal prift sharing ratio

Gaining ratios are equal to.

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New Ratio - Old ratio

Old ratio- New ratio

New Ratio + old ratios

Capital ratios- New Ratios

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 part of the issued capital which has been taken up or subscribed by the public is called

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Issued capital

Authorized capital

Subscribed capital

Paid up capital

The method for preparing the final accounts in trading concerns and non-profit making organizations are

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Same

Different

Easy

Difficult

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

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