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Q841

A trader transfers 20% of his profit to General Reserve. On the basis of which concept, he does so?

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Q842

Which of the followingstatements istrue?

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Q843

Adjustment entry for outstanding rent will be

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Q844

Which of the following correctly depicts the difference between a merger and an acquisition of srock?

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Q845

Debt-Equity Ratio is a kind of

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Q846

Who was insolvent in Garner vs. Murray case:

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Q847

What is the correct sequence of the following actions required for the preparation of final accounts?
1. Preparation of Trial Balance
2. Balance of accounts
3. Preparation of annual financial statements
4. Making adjustment entries
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Q848

The value of plant and machinery as on 1^st January, 2005 was Rs. 80,000/- and its value as on 31^th December 2005 was Rs. 1,20,000/-. During the year Rs. 10,000/ was written off as depreciation. This will result in

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Q849

A company issued 1,00,000 equity shares of the face value of Rs. 100 each at Rs. 100 per share. So far Rs. 75 per share has been called up including Rs. 25 on allotment and Rs. 25 on first call. X to whom 200 shares were issued failed to pay the first call. His shares were forfeited and re-issued to Y at Rs. 70 per share as fully paid-up. The amount to be transferred to Capital Reserve a/c would be:

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Q850

When subsidiary books are maintained, the entry for special discounts to customers is done in:

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Q851

Creating provision for bad and Doubtful debts is based on which accounting concept?

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Q852

Who among the following can be appointed as a debenture trustee?

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Q853

The most rigorous test of liquidity is:

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Q854

A machine was purchased for Rs. 10,000 and its life was estimated to be 3 years, and at the end of its life, its book value was Rs. 5,120. If depreciation is calculated according to Diminishing Balance method, the rate of depreciation would be:

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Q855

Bill discounted from bank is

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Q856

Profit on sale of sinking fund investment will be debited to

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Q857

The current cost on producing 5 units is Rs. 100/-. If fixed cost is Rs. 40/- then what will be the total average cost of 5 units

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Q858

When funds from operations are Rs. 42,000 and amount of depreciation on plant and machinery is Rs. 5,000, the amount of net profit will be

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Q859

Opening Debtors	Rs. 10,000
Sales Returns	Rs. 7,000
Bad Debts	Rs. 3,000
Cash Received from Debtors	Rs. 40,000
Closing Debtor	Rs. 13,000

Find out the amount of credit sales.

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Q860

Net working capital is equal to

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