Question # 1

The maximum number of member in case of public limited company can be

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Forty

Fifty

Sixty

No restriction on maximum number

Amount due to the deceased partner is generally transferred to

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Executor's loan

Profit and loss accounts

Capital account

None of thess

The method for preparing the final accounts in trading concerns and non-profit making organizations are

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Same

Different

Easy

Difficult

Equity share holders are.

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Creditors

Owners

Customers of the company

Debtors of the company

Revaluation account is a.

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Real account

Personal account

Cash account

Nominal account

In single entry it is not possible to prepare

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Trial balance

Trading account

Profit and loss account

Balance sheet

A new partner may be admitted to a partnership.

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With the consent of all the partners

With the consent of any one of the partners

With consent of two third the old partners

Without the consent of old partners

The main sources of income of for on -trading concern is.

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Subscriptions

Donations

Sales

Dividends on investment

To calculate the value of capital both at the beginning and at the end of year in single entry system we prepare,

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Balance sheet

Trading account

Trial balance

Statement of affairs

In single entry system ledger contains the accounts of,

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Debtors, creditors and cash

Wages and carriage

Salaries and insurance

Assets and liabilities

The person who sends the goods to his agent for the purpose of sale is called.

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Consignor

Consignee

Debtor

Creditor

The dividend paid to the shareholders during the finaincial year is.

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Final dividend

Interim divident

Unclaimed divident

Proposed dividend

Income and expenditure account is equivalent to the.

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Receipt and payment account

Balance sheet

Cash book

Profit and loss account

Under single entry system sometimes,

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Double aspects of a transaction are recorded

Single aspect of a transaction is recorded

No aspect of a transaction is recorded

All of the above

Receipt and payment account is prepared at the.

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Start of the year

End of the year

Mid of the financeial year

None of these

In case of retirement the amount of the general reserve any other profit is credited to all partners in.

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Sacrificing Ratios

New profit sharing ratios

Old prift sharing ratios

Gaining ratios

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