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Q881

A partnership firm prepared realisation account at the time of

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Q882

Consider the following activities:
1. Summarising the performance of a business
2. Analysing of the business transactions
3. Interpreting the results
4. Recording the transactions

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Q883

Comparison of the financial statements of the current year with the performance of previous years of the same firm', is known as:

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Q884

What will be the difference in the receipt of book debts?

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Q885

Depreciation is caused by

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Q886

Which of the following statements is true relating to Income and Expenditure Account?

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Q887

Which one of the following statements is not correct:

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Q888

Balance of share forfeiture account is shown in the Balance Sheet under the heading

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Q889

Premium paid on the Joint Life Policy of the partners is

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Q890

If the value of net-assets employed be Rs. 25,00,000. Average profit for the preceeding three years be Rs. 3,00,000 and the normal rate of return be 10%, the value of Goodwill by capitalization method will be:

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Q891

Variable cost ratio is 30%, fixed cost is Rs. 63,000. The break even point will be

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Q892

Given:
Sals - Rs. 2,00,000
Gross Profit - 25% of cost
Stock velocity - 3 months
Closing stock is Rs. 2,000 more than the opening stock.

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Q893

On the dissolution of a firm, loan from the wife of a partner is treated as

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Q894

The profits of a firm for the last five years are Rs. 80,000, Rs. 90,000, Rs. 70,000, Rs. 85,000 and Rs. 1,00,000 respectively. The goodwill of the firm is calculated on basis of three year purchase of average profits of five years. The value of goodwill is

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Q895

A seller gives his goods worth Rs. 2,000 to a buyer for Rs. 1800. The differnce of Rs. 200 will be termed as

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Q896

As per AS-ll construction contracts, costs that may be attributable to contract activity in general and can be allocated to specific contracts include
1. insurance
2. freight
3. costs of design and technical assistance that is not directly related to a specific contract
4. manufacturing overheads
5. construction overheads
Select the correct answer:

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Q897

Goodwill is a/an:

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Q898

When a goodwill account is raised at the time of admission of a new partner, credit is given to old partners in their:

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Q899

A company issues 10% irredeemable preference shares. The face value per share is Rs. 100, but the issue price is Rs. 95. What is the cost of preference share?

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Q900

A, B and C are partners in a firm without any agreement. They have contributed Rs. 7,50,000, Rs. 7,30,000 and Rs. 7,20,000 by way of capital in the firm. A was unable to work for six months in a year due to illness. At the end of the year, the firm earned a profit of Rs. 7,15,000. A's share in the profit will be

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