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Q621

If cash sales is Rs. 40,000; credit sales Rs. 80,000 and the amount of debtors Rs. 20,000, the average collection period will be (consider 360 days in a year):

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Q622

Recording of decline in the value of patents, copyright and goodwill is called as

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Q623

The portion of uncalled amount of capital that can be called up only on winding up of the company is known as

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Q624

Revenue is generally recognised being earned at the time when:

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Q625

Which of the following items should be posted to Income and Expenditure account of a club?

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Q626

Which of the following is not fixed asset?

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Q627

Upon dissolution, which is the proper order for application of the firm's assets?
1. Payment of partner's loan.
2. In paying, the debts of the firm to third partiy.
3. Distribution of surplus to partners in profit sharing ratio.
4. Payment of partners capital.
Select the correct answer:

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Q628

Amount spent on increasing the seating capacity of a cinema hall is called

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Q629

When the Debt Turnover Ratio is 4, what is the average collection period?

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Q630

Which of the following is not a features of the Hire Purchase System?

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Q631

Which one of the following concept is used as fund in the preparation of Funds Flow Statement?

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Q632

The effect of surrender of shares is the same as of shares:

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Q633

Calculate the interest on drawings assuming the rate @ 10% p.a for the year ended 31^st December 2016, for the withdrawals of Rs. 2000 made at the beginning of each month

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Q634

The principle 'anticipate no profit and provide for all possible losses' emanates from:

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Q635

Which of the following errors will not affect the trial balance?

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Q636

If a share of Rs. 100 issued at a discount of Rs. 5 of which full amount has been called up is forfeited for nonpayment of final call of Rs. 20, the share capital account will be debited by

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Q637

That portion of the share capital which can be called up only on the winding-up of the company is the

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Q638

Consider the following items:
i. Debentures
ii. Prepaid rent
iii. Interest accrued
iv. Bank overdraft
Which of them are current liabilities:

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Q639

During the Year 2004, the income from subscription was Rs. 4,500, subscription received in advance Rs. 360. On 31^st December 2004, the outstanding subscription was Rs. 140. The amount of subscription to be shown in Receipts and Payments a/c for the year 2004 would be

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Q640

When a company takes over another one and clearly becomes a new owner, the action is called

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