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Accounting
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Q1261

A and B have been in partnership sharing profits in the ratio of 7 : 3. C is admitted as a partner. A surrender

\frac{1}{7}

of his share and B surrenders

\frac{1}{3}

of his share in favour of C. The new profit sharing ratio will be-

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Q1262

On maturity of joint life policy the amount received from insurance company will be distributed amongst partners:

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Q1263

Which one of the following is not a function of accounting?

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Q1264

The expenditure on raw material is-

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Q1265

Which of the following is/are the method(s) of Human Resource Accounting?

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Q1266

Chartered Accountants are-

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Q1267

Which of the following is not prepared to ascertain the income of a non-trading concern:

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Q1268

Ram and Shyam are partners in a firm with capital of Rs. 4,50,000 and Rs. 3,10,000 respectively. They admitted Ganesh as a partner with

\frac{1}{4}^{th}

share of profit. Ganesh brings Rs. 3,00,000 as his capital. Ganesh's share of goodwill will be

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Q1269

Redeemable preference shares of Rs. 2,00,000 are redeemed at par for which purpose fresh equity shares are issued for Rs. 80,000 at par, The amount be transferred to Capital Redemption Reserve Account would be:

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Q1270

When the sale is expected to occur beyond one year, the entity shall measure the costs to sell at their present value. Any increase in the present value of the costs to sell that arises from the passage oftime shall be presented in

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Q1271

The amount received over and above the par value is credited to which account?

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Q1272

A Ltd. issued a prospectus inviting applications for 2,000 shares. Applications were received for 3,000 shares and pro-data allotment was made on the applications of 2,400 shares. If A has been allotted 40 shares, how many shares he must have applied for ?

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Q1273

Business means

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Q1274

Which of the following is not a capital gain:

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Q1275

A and B are partners in a firm sharing profit and loss in the ratio of 3 : 2. They admit C into partnership for

\frac{1}{4}^{th}

share and the new ratio between A and B is 2 : 1. The sacrificing ratio is

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Q1276

Profit sharing ratio of A, B and C is

\frac{1}{2}, \frac{3}{10}

and

\frac{1}{5}

respectively C dies. What will be profit haring ratio between A and B?

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Q1277

The application of the concept of conservatism in accounting:

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Q1278

Security premium account can be used for which of the following purpose?

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Q1279

The convention of conservatism when applied to a Balance Sheet results in:

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Q1280

A, B and C were partners in a business who shared profits and losses in the ratio of

\frac{1}{5} : \frac{1}{3} : \frac{7}{15}

respectively. C retired and his share was purchased by A and B in the ratio of 3 : 2. The new profit sharing ratio of A and B will be:

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