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Q541

If the net sales of the year is Rs. 2,50,000 and the debtors is Rs. 50,000, then the average collection period will be

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Q542

An adjustment entry for prepaid expenses affects

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Q543

Over-capitalisation can be remedied:

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Q544

On dissolution of a firm, if goodwill does not appear in the Balance Sheet of the firm, it is

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Q545

Accounts do not record:

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Q546

A decreasing current ratio indicates:

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Q547

Which of the following is not a business activity?

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Q548

In the absence of any contract to the contrary, profit on dissolution of a partnership firm is credited to the partner's capital accounts:

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Q549

Assertion (A): Premium receivedon issue of shares is credited to share premium account but not to profit and loss account.
Reason (R): Since share premium is not a trading profit, it is not distributed to shareholders.

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Q550

Total capital employed is equal to:

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Q551

On the insolvency of partner, the deficiency of his capital account is borne by the solvent partners, according to the decision of Garner Vs. Murray's in

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Q552

Read the following
Assertion (A): ''Share premium cannot be utilised for any purpose other than mentioned in Sec. 78 of the Companies Act."
Reason (R): "Share premium is a capital receipt."
Select the correct answer:

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Q553

Assets and liabilities are . . . . . . . . for determination of capital?

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Q554

Net profit + Non cash expenses = ?

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Q555

The current ratio of X limited is 2 : 1 and the quick ratio is 1.5 : 1. If the current liability is Rs. 80,000, then the value of the stock will be-

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Q556

On purchase of old furniture Rs. 8,000 were spent on its repairs. This amount should be debited to

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Q557

The basic concept related to profit and loss account is/are

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Q558

If current ratio is 2.5 and working capital is Rs. 90,000 then the value of current assets would be

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Q559

The Debt-Equity Ratio is a test of

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Q560

Break Even Point means

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