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Q601

Govind, Hari and Pratap are partners. On the retirement of Govind, the goodwill already appears in the balance sheet at Rs. 24,000. The goodwill will be written off by

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Q602

A, B and C are partners sharing profits in the ratio of 3 : 2 : 1. C retires, and his capital after making adjustments for reserves and profits on revaluation is Rs. 2,30,000. A and B agree to pay him Rs. 50,000 in full and final settlement of his claims. The amount of goodwill be

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Q603

Minority interest includes

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Q604

Premium earned on issue of Shares' is an example of

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Q605

Under CCA method, surplus or deficit due to change in value of assets and adjustment in profit and loss statement should be adjusted to

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Q606

Accounting Standard-6 is meant for

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Q607

Revenue from sale of products ordinarily is reported as part of earning in the period in which:

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Q608

Which of the following can not be used for redemption of preference shares?

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Q609

Donations received by a charitable institution for some specific purpose are taken to:

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Q610

If current ratio is 2.5, quick ratio 1.5 and net working capital Rs. 15,000. The value of inventory will be:

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Q611

Which of the following is not included into the final accounts?

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Q612

The value of goodwill of the business willbe the highest if the majority of the customers of the firm are of the nature of

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Q613

Intrinsic value of a share is given by

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Q614

Assertion (A) Personal transactions of the owners of the business are not recorded in the books.
Reason (R) According to the business entity concept, each business enterprise is considered as an accounting unit separate from owners.

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Q615

Given below are two statements, one labelled as Assertion (A) and the other as Reason (R):
Assertion (A): Capital expenditure is incurred for the purpose of acquiring fixed assets.
Reason (R): Capital expenditure item is shown in the asset side of the Balance sheet.
Select the correct answer:

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Q616

On increase in sales price

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Q617

If vendors are issued debentures of Rs. 1,00,000 in consideration of net assets of Rs. 1,20,000, the balance of Rs. 20,000 will be credited to:

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Q618

Match List-I with List-II and select the correct answer:

List-I	List-II
a. Financial Leverage	1. Efficiency
b. Quick Ratio	2. Profitability
c. Stock Turnover	3. Risk
d. Margin on sales	4. Liquidity

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Q619

A company can not redeem its debentures by:

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Q620

Recoupable short working are shown in the Balance Sheet as

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