Q1141
Open questionA budget which provides an estimated profit and loss account and a summary of all functional budgets is known as
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Q1142
Open questionAmalgamate adjustment account is opened in the books of transferee company to incorporate
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Q1143
Open questionThe capital of firm is Rs. 80,000. The normal rate of return is 7.5%. If the profit earned by the firm during the last five years is Rs. 8,000, Rs. 9000, Rs. 7000, Rs. 8,500 and Rs. 10,000 then the super profit of the firm will be.
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Q1144
Open questionWhen existing companies take over the business of another company or companies, it is known as
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Q1145
Open questionThe principle that "an accountant should not anticipate profits, but must provide for all losses" is known as:
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Q1146
Open questionMatch the following.
| List-I | List-II |
| a. Materiality concept | 1. The same accounting method used by a firm from one period to another |
| b. Going concern concept | 2. An inappropriate assumption of a firm being bankrupT |
| c. Historical cost concept | 3. A normal basis used for accounting assets |
| d. Consistency concept | 4. Relates to the importance of an item or event |
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Q1147
Open questionWhen closing stock is included in the trial balance. It is to be recorded only in?
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Q1148
Open questionAverage profit of a firm is Rs. 9,000. Firm's capital is Rs. 60,000 and normal return on business is expected at 10%. The goodwill by capitalisation method will be:
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Q1149
Open questionRight shares refers to those shares which are
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Q1150
Open questionThe minimum share application money is
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Q1151
Open questionThe accounting concept where the business is a separate entity apart from its owners
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Q1152
Open questionCash Equivalent means
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Q1153
Open questionIn case of absence of a partnership deed, what is the rule for charging interest on drawings?
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Q1154
Open questionWhich of the following statements is/are correct?
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Q1155
Open questionOn dissolution of a firm, an unrecorded liability is
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Q1156
Open questionWhich of the following items would be specifically included in the statement of cash flows constructed in compliance with AS-3?
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Q1157
Open questionHeavy initial expenditure on advertising to introduce a new product is classified as
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Q1158
Open questionIdeal acid test ratio is:
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Q1159
Open questionWhich of the following sets of expenses are the direct expenses of the business:
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Q1160
Open questionSubscription to Newspapers and Periodicals - Rs. 350.00
Sale proceeds of old Newspapers - Rs. 60.00
What amount is posted on the expenditure side of the income and Expenditure Account:
Sale proceeds of old Newspapers - Rs. 60.00
What amount is posted on the expenditure side of the income and Expenditure Account:
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