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Accounting
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Q2821

The main purpose of this . . . . . . . . accounting is to ascertain profit or loss during a specific period, to show financial position of the business.

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Q2822

Given that the value of furniture on 1^st Januray 1993 is Rs. 8,000, furniture purchased during the year is Rs. 4,000, sale of furniture no loss no profit basis is Rs. 2,000, and the furniture is valued at Rs. 7,000 on 31^st December 1993, the depreciation for the year 1993 will be:

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Q2823

The preparation of a Trial balance helps in:

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Q2824

Rebate on bills discounted is . . . . . . . . from interest and discount in the P/L account.

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Q2825

Public limited companies cannot issue . . . . . . . .

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Q2826

When a bill is discharged, the acceptor debits . . . . . . . .

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Q2827

When a bill drawn by A on B (and retained till the date of maturity is dishonoured on the due date), it is debited (in the books of A) to . . . . . . . .

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Q2828

If the rate of gross profit on sales is 25% and the cost of goods sold is Rs. 75,000, then the amount of total sales will be:

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Q2829

If the cost of goods sold is Rs. 1,20,000 and the rate of gross loss is

\frac{1}{4}

on sales, the amount of sales is:

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Q2830

Goods of the value of Rs. 1500 taken by the proprietor for his personal use should be debited to:

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Q2831

Interest on performing assets should be recognized on . . . . . . . . basis.

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Q2832

The following figures (all in Rs.) relate to non-trading concern:
1^st January, 1995 stock of medicines 5,000
1^st January, 1995 outstanding creditors for medicines 3,000
Amount paid for medicines during the years 15,000
Value of medicines spoiled during the year stock of medicines 400
On 31^st December, 1995 3,500
The amount to be debited to income and expenditure account would be

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Q2833

Schedule 9 relates to . . . . . . . .

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Q2834

At the time of endorsement of a bill, the drawer credits . . . . . . . .

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Q2835

While preparing bank reconciliation statement, cheques paid into bank but not yet cleared are . . . . . . . .

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Q2836

Realization loss is transferred to . . . . . . . .

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Q2837

A cartel is a combination firms

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Q2838

Which preparing accounts from incomplete records, the amount of credit sales is determined by?

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Q2839

When the proposed dividend exceeds 20% of paid up capital, percentage of profit transferred to general reserve is . . . . . . . .

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Q2840

Advance payment of tax is a . . . . . . . .

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