Q2281
Open questionIf opening stock Rs. 50,000, closing stock Rs. 60,000 and cost of gold sold is Rs. 2,20,00, then stock turnover ratio will be
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Q2282
Open questionDiscount on issue of shares by a company should be shown on the:
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Q2283
Open questionWhich one of the following statements is not true?
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Q2284
Open question"Every debit should have equal and corresponding credit." Which of the following Accounting Concept says so?
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Q2285
Open questionThe objective of hedge accounting is to represent, in the financial statements, the effect of an entity's that use financial instruments to manage arising from particular risks that could affect profit or loss.
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Q2286
Open questionIf the current ratio of a firm is 2.5 : 1 and working capital is Rs. 90,000 then the amount of current liabilities will be
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Q2287
Open questionAsha and Vipasha are equal partners with fixed capitals of Rs. 5,00,000 and Rs. 2,00,000, respectively. After closing the accounts for the year ending 31st March 2019, it was discovered that the interest on capitals was provided @ 6% per annum instead of 5% per annum. In the adjusting entry
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Q2288
Open questionMatch the items of the following two lists and indicate the correct answer:
| List-I | List-II |
| a. Earning ability of a firm | 1. Basis of accounting |
| b. Conservatism | 2. P/V ratio |
| c. Cash profit | 3. Cash flow statement |
| d. Cash and accrual | 4. Prudence |
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Q2289
Open questionThe more accurate guide to liquidity of a firm is provided by:
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Q2290
Open questionA machine was purchased on 1st January 1987. It was depreciated by written down value method at the rate of 10% P.A. The depreciated value of machine as on 1st January 1990 is Rs. 13,122. The cost of machine on 1st January 1990 was
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Q2291
Open questionAccounting standard-19 (AS-19) relates to
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Q2292
Open questionIf,
Selling price is Rs. 10;
Variable cost per unit is Rs. 6 and
Total fixed costs are Rs. 48,000
Then the Break Even Point will be
Selling price is Rs. 10;
Variable cost per unit is Rs. 6 and
Total fixed costs are Rs. 48,000
Then the Break Even Point will be
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Q2293
Open questionIf a minor choose to continue as a partner on attaining the age of majority, he will be liable to the debts of the firm from the date of his
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Q2294
Open questionA manager is paid 5% commission on the net profit after charging such commission. The gross profit of the firm is Rs. 40,000 and the selling expense is Rs. 29,500. His commission will be
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Q2295
Open questionThe closing stock of a sports club was of cricket bats worth Rs. 1,000. Bats worth 6,000 were used during the year. The opening stock of bats at the beginning was Rs. 800. Which of the following sentence is correct?
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Q2296
Open questionWhen goodwill is raised in the books, the capital accounts of the old partners are credited in:
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Q2297
Open questionWhich of the following are the motives of mergers? Indicate the correct answer:
1. Gain the economies of scale.
2. Utilize under-utilized resources.
3. Break the monopoly.
4. Reduce tax liability
1. Gain the economies of scale.
2. Utilize under-utilized resources.
3. Break the monopoly.
4. Reduce tax liability
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Q2298
Open questionUnder capitalisation method, goodwill is calculated by
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Q2299
Open questionArrange the following in correct sequence in the event of dissolution of a partnership firm.
1. If surplus, it is distributed among the partners.
2. The assets of the firm are realised.
3. Amount realised is applied towards repayment of liabilities to outsiders and loan taken from partners.
4. Capital contributed by partners is repaid.
Select the correct answer:
1. If surplus, it is distributed among the partners.
2. The assets of the firm are realised.
3. Amount realised is applied towards repayment of liabilities to outsiders and loan taken from partners.
4. Capital contributed by partners is repaid.
Select the correct answer:
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Q2300
Open questionUnder which head of the liability side of a company's balance sheet, 'unclaimed dividend' will be shown?
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