Question # 1

Liability of the partners in partnership is.

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Limited

Unlimited

Limited up to the extent of their capitals

Depend on the will of the partners

To make provision for the replacement of the assets. the method is to be ysed is.

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Written down value method

Annuity method

Sinking fund method

Insurance policy method

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

Depreciation is

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An Income

An expense

A loss

A liability

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

The term Depletion is used with reference to.

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Tangible assets

Intangible assets

Current assets

Fixex assets

Normaly the discount on the shares should not exceed from

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Five percent

Eight percent

Twenty percent

Ten percent

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

For the stock unsoled with the consignee wil the debited in the books of the consignor.

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Stock on consignment account

Consignment

Consignee account

None of the above

The debentures which does not carry any charges o the assets of the company.

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Simple debentures

Mortagage debentures

Redeemable debentures

None of these

In the absence of any agreement Reserve on dissolution of a partnership firm is credited to the partners.

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In capital ratio

In profit sharing ratio

Equality

None of these

Account salesis submitted by.

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Teh consignor to the consignee

The consignee to the consignor

the debtor to the creditors

The principle to his agent

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

Income and expenditure account is usually accompanied by.

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Trail balance

Balance sheet

Cash book

None of these

Receipt and payment account includes.

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Revenue items

Capital items

Both capital and Revenue items

None of the above

The abnormal loss on consignemnt is credited to.

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Consignment account

Consignment personal account

Profit and loss account

Goods sent on consignemnt account

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