Q1541
Open questionIn the event of death of a partner, the amount of joint life policy is credited to
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Q1542
Open questionThe Balance Sheet of an Indian company should show, by way of notes, the following contingent liabilities :
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Q1543
Open questionWhich of the following is a current liability?
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Q1544
Open questionThe Garner Vs. Murray case was concerned with the settlement of accounts among the partners at the time of:
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Q1545
Open questionUnder statement of closing work-in-progress in the period will
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Q1546
Open questionUnder the 'imprest system of petty cash book' the petty cashier submits the periodical statement and recovers
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Q1547
Open question| Net loss | Rs. 20,000 |
| Depreciation on Machinery | Rs. 50,000 |
| Amortisation of goodwill | Rs. 5,000 |
| Loss on the sale of old furniture | Rs. 3,500 |
| Profit on the sale of land | Rs. 8,500 |
Funds from operation are
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Q1548
Open questionMatch the following
| List-I | List-II |
| a. Income is measured and financial position is assessed | 1. Consistency concept |
| b. Anticipate no profit and provide for all possible losses | 2. Going concern concept |
| c. Assets are depreciated on the basis of expected life rather than on the basis of market value | 3. Conservatism concept |
| d. The comparison of one accounting period with that in the past is possible | 4. Matching concept |
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Q1549
Open questionFixed Assets (Net):
31st December,1994 = Rs. 1,50,000
31st December, 1995 = Rs. 1,90,000
Provision for depreciation:
A machine costing Rs. 70,000 (book value Rs. 40,000) was disposed for Rs. 25,000 during the year 1995
The application of funds in respect of fixed assets during the year is:
31st December,1994 = Rs. 1,50,000
31st December, 1995 = Rs. 1,90,000
Provision for depreciation:
A machine costing Rs. 70,000 (book value Rs. 40,000) was disposed for Rs. 25,000 during the year 1995
The application of funds in respect of fixed assets during the year is:
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Q1550
Open questionWhich of the following is not a current liability:
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Q1551
Open questionPre-emptive right is:
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Q1552
Open questionWhen a partner retires, the decrease in the values of a liability is credited to:
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Q1553
Open questionAmount of underwriting commission payable on the issue of debentures is limited to:
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Q1554
Open questionStock A/c is a
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Q1555
Open questionPreference share on which a shareholder can claim voting rights due to non-payment of dividend for two years are called
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Q1556
Open questionIn the case of admission of a new partner, the amount of goodwill brought in by him in the firm is shared by the old partners :
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Q1557
Open questionCurrent liability in the following is-
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Q1558
Open questionOut of following a new partner could be admitted in a partnership with consent of
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Q1559
Open questionWhich of the following is not recorded in current assets?
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Q1560
Open questionGoodwill brought in by new partner in cash is called
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