Question # 1

The gradual decrease in the value of the fixex assets due to its use in the business is called.

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Depreciation

Depletion

Amorization

Fluctuation

Debenture holders are.

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Creditors

Owners

Customers of the company

Debtors

The balance of revaluation accoun tis transferred to the old partners capital accounts in their.

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Sacrificing ratio

Old profit shairng ratio

New profit sharing ratio

Equal profit shairng ratio

For the firm, interest on drawing is.

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Expense

Income

Liability

None of these

Non- trading concern prepare.

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Profit and loss account

Income and expenditure account

Manufactureing account

None of these

Partnership is formed by the partners.

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Written agreement

Mutual consent

Verbal agreement

None of these

In case of banking business, the numerb of persons must not exceed.

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Ten (10)

Twenty (20)

Tweinty five(25)

Fifty (50)

The expense incurred by the oconsignee in connection with the sale of the consignment goods are debited to.

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Consignment account

Cash account

Consignor account

None of these

Value of the good will is calculated under capitalization formula.

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Average profit / reasonable return x 100

Resonable return / average profit x 100

Averager profit x 100 / resonable return

None of these

General reserve at the time of admission of anew partner is credited.

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New partner capital account

General reserve account

Old parners capital account

All partners capital account

A certificat issue by the company under its seal acknowledging a debt due by it to its holder, is called.

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Debenture

Certificate of commencement

Acknowledge certificate

Noen of these

According to companies ordinance, single entry system cannot be adopted by,

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Sole proprietorship

Partnership

"a" and "b"

Joint stock companies

Cash paid to creditors can be woked out from.

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Debtora account

Creditors account

Balance sheet

None of theses

The amount of share capital which a company is authroxzed to raise is called.

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Subscribed capital

Issued capital

Authorized capital

Paid up capital

The profit earned prior to the date of incorporatin is.

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Revenue profit

Capital profit

Capital gain

Revenue gain

Maximum numebr of the partners in an ordinary Partinership.

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Ten partners

Twentry partners

Thirty partners

Fourth partners

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