Question # 1

A situtation where a company receives a application for a less number of shares than offered to the public for subscription is termed as.

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Under subscription

Over subscription

General subscription

Above subscription

Non- trading concern prepare.

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Profit and loss account

Income and expenditure account

Manufactureing account

None of these

Dell creder commission is calculated on.

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Total sales

Cash sales

Credit sales

None of these

Opening capital is calculated by taking the difference between,

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Opening assets and closing assets

Opening assets and closing liabilities

Opening assets and Opening liabilities

Closing assets and closing liabilities

The asses which have physical existence are called.

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Intangible assets

Intangible fixed assets

Tangible fixed assets

Both tangible or intangible assets

Income and expenditure account is usually accompanied by.

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Trail balance

Balance sheet

Cash book

None of these

Net worth is equal to,

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Assets - Liabilities

Liabilities - Assets

Liabilities + Capital

Capital + Assets

An income and expenditure account is.

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Normal account

Real account

Persoanl account

None of these

Depreciation is

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An Income

An expense

A loss

A liability

The credit balacne of the retained earnings statement represents.

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Undisturbed Profit

Divided declared

Profit distributed

None of these

In non-profit making organization final accounts contains

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Income and expenditure account and balance sheet

Receipts and payments account and balance sheet

Receipts and payments account and statement of affairs

Profit and loss account and balance sheet

Due to fresh capital introduced during the year, the closing capital will,

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Increase

Decrease

Constant

Multiply

The periodical report which is prepared by consignee and send to consignor, which shows the detail about the sales of goods is called.

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Sales account

Performa invoice

Account sales

None of these

Excess of assets over liabilities is an indication of.

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Solvency

Insolvency

Deficiency

Loss

A company in which memebr gives a guarantee to contribute a specified sum to the company of its being wound up is called.

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Limited company

Un limited company

Company limited by guarantee

Chartered company

Depreciation caused by some external amoutn of anual depreciation gradully.

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Increase

Decrease

Remain constant

None of these

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