Question # 1

On the dissolution of the partnership unrecorded assets if takes away by the partners is debited to.

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Realization account

Partners capital account

Assets account

None of these

Debenture holders are.

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Creditors

Owners

Customers of the company

Debtors

Old prifit sharing ratio minus new profit sharing ratio is equal for.

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Sacrifing ratios

Gaining ratios

Distributing ratios

None of these

The Receipt and payment account is the summery of the

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Cash book

Balance sheet

Trqail balance

Proft and loss account

The value of the share as quoted on the stock exchange is said to be

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Par value

Book value

Cost value

Market value

Receipts and payments account records transaction relating to

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Past year

Future year

Present year

All of the above

Donation receivedin heavy amount are treated as.

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Revenue

Capitaized

Liability

Assets

premium on issue of shares is shown in.

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Assets side of balance sheet

Liabilities side of balance sheet

Trading account

Profit and loss account

Teh single entry system of book keeping is generay followed by

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Small business concern

Large Business concern

Non trading concern

None of these

Under the conversion method of single entry credit salea are ascertained by preparing the.

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Total debtors account

Total creditors account

Total cash account

Total bills receivable account

The profit on revaluation of assts and liabilities on the retirement of the partners should be credited to the capital account of.

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All the partners

Retiring partner

Remaining partner

None of these

Interest on dividend is paid.

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At the end of financial period

During the fiancancial year

At the time of incorporation

At the time of winding of company

The debentures which are payable to bearere, are termed as.

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None transfereble

Registered debentures

Bearer debentures

Non - bearere debentures

In consginee's books the payment of expense by consignee should be debited to

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Consignment account

Consignnors account

Cash account

None of these

Receipt and payment account includes.

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Revenue items

Capital items

Both capital and Revenue items

None of the above

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