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Accounting
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Q701

How many companies are involved in the scheme of internal reconstruction?

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Q702

Outstanding Expenses Account is:

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Q703

If profits are 25% of selling price, percentage of profit to cost would be

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Q704

"Double entry system is that system of book keeping where accounting is done through personal and impersonal accounts." This definition was given by-

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Q705

A machine was purchased for Rs. 1,000 and its life was estimated to be 3 years and at the end of life its book value will be Rs. 512. If depreciation is calculated according to written down value method. The rate of depreciation would be:

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Q706

Premium on issue of shares is shown in balance sheet as:

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Q707

Bank account is . . . . . . . . on receipt of first call.

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Q708

If the average recovery period is 15 days and the average book receipts are Rs. 45,000, then what will be the total annual credit sales?

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Q709

Interest on investments received Rs. 500 which includes Rs. 100 in respect of interest accrued in the preceding year.
What amount will be posted in the Income and expenditure Account:

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Q710

X Ltd. forfeited 20 shares of Rs. 10 each (Rs. 8 called up) on which John had paid application and allotment money of Rs. 5 per share. Of these, 15 shares were reissued to Parker as fully paid up for Rs. 6 per share. What is the balance in the share forfeiture account after the relevant amount is transferred to the capital reserve account?

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Q711

At the time of retirement of a partner, the existing profit and loss balance is transferred to which account?

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Q712

According to which of the following accounting concepts, the owner of the business is also considered a creditor to the extent of the capital?

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Q713

Which of the following will result in flow of funds:

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Q714

Which is the best depreciation method in case of mineral deposit?

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Q715

There is decrease in the ownership of the owners by-

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Q716

Which of them are current liabilities?
1. Debentures
2. Prepaid rent
3. Interest accrued
4. Bank overdraft
Select the correct answer:

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Q717

Responsibility accounting aims to

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Q718

A firm stands dissolve in the following cases
1. the partners agree that the firm should be dissolved.
2. the business becomes legal.
3. in case of partnership at will, a partner gives notice of dissolution.
4. the court orders dissolution.
Select the correct answer:

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Q719

Kinds of share capital is:

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Q720

Which of the following item will have credit balance?

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