Question # 1

Example of non-profit making organization

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Fan factory

Sugar industry

Hospital

Shoe factory

Premium on issue of share is a.

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Capital profit

Business loss

Revenue profit

Revenue loss

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

The balance of revalution account is transferred to the capital accounts of the partners in.

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Profit sharing ratios

Capital ratios

Equality

None of these

The powers of company are governed by the.

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Sharehoders

Memorandum of association

Prospectus

Articles of association

The loss prior to the date of incorporation of a company is.

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Revenue loss

Capital loss

Liability

None of these

In consginee's books the payment of expense by consignee should be debited to

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Consignment account

Consignnors account

Cash account

None of these

the term depreciationis used with reference to.

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Tangible assets

Intangible asets

Current assets

Fixed assets

Interest on dividend is paid.

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At the end of financial period

During the fiancancial year

At the time of incorporation

At the time of winding of company

Income and expenditure account is debited with all.

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Expenses

Incomes

Liabilities

Assets

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 profit earned prior to the date of incorporatin is.

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Revenue profit

Capital profit

Capital gain

Revenue gain

Receipts and payments account records the transactions of

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Revenue nature

Capital nature

Revenue and capital nature

None of these

The toal amount of capital, in case of company is divided into small units, these units are called.

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Bonds

Cheque

Share

Reserve

In consignment , the remuneration allowd to consignee for selling the goods of the consignor, is termed as.

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Salary

Wages

Profit

Commission

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

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