Question # 1

Excess of liablilities over assets is an indication of .

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Solvency

Insolvency

Surplus

Profit

Account salesis submitted by.

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Teh consignor to the consignee

The consignee to the consignor

the debtor to the creditors

The principle to his agent

The maximum number of memebr in case of private limited comapny can be.

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Forty

Fifty

Sixty

No restriction on maximum number

Donation receivedin heavy amount are treated as.

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Revenue

Capitaized

Liability

Assets

In the absence of an partnership agreement the pfofit and losses are divided by the partners in the ratio of.

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Capitals

Profit and loss ratios

Equality

Time devoted by each partner

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

Excess of assets over liabilities is an indication of.

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Solvency

Insolvency

Deficiency

Loss

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

For the firm, interest on drawing is.

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Expense

Income

Liability

None of these

the loss whihc arises due to natural causes such as evaporation etc is called.

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Abnormal loss

Normal loss

Additional loss

None of these

The gaining ratio are calculated on.

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Admissionof a partner

Death of a partner

Retirement of a partner

None of these

In single entry system,

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Personal accounts are maintained

Real accounts are maintained

Nominal accounts are maintained

None of the above

In single entry it is not possible to prepare

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Trial balance

Trading account

Profit and loss account

Balance sheet

Depreciation is

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An Income

An expense

A loss

A liability

In single entry system real accounts are not maintained so the preparation of,

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Correctly

Effectively

Wrongly

Approximately

The documents which contains the rules and regulation for the internal management of the company is called.

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Prospectus

Articles of assocaition

Memorandum of association

Notice

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