Question # 1

Cash received from the debtors can be find out by preparing.

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Debtors account

Creditors account

Balance sheet

Trial balance

Subcription received during the current year is.

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An income

An expenditure

An asset

An liability.

Capital fun of non trading concern is equal to.

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Assets + Income

Assets + Liabilities

Expenditure + Liabilities.

Assets - Liabilities

If the credit side of the income oand expenditur eaccount is greater it is termed as.

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Deficit

Surplus

Asset

Liability

Bad debt written off always affect the

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Deblor's account

Creditors account

Cash account

All of the above

In case of Garner Vs. Murray rule, the decision was given is.

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Mr. Justice james

Mr Garner

Mr. Justice joyee

Mr. Murray

The person who take the initaiative in the matter of formation of a company are known as the.

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Promoters

Share holder

Director

Registered

In single entry system nominal accounts and some assets accounts balances are not available so it is not possible to prepare,

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Debtors account

Creditors account

Trial balance

Statement of affairs

For the expenses incurred by the consignee on the sale of goods will be credited in the books of the consignor.

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Cash account

Consignee personal account

Consignment account

None of the above

Profit and loss on revalution at the time of retirement must be transerred to the partners in.

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Capital ratio

Old prifit sharing ratio

New profit sharing ratio

Gaining ratio

If any partner takes the responsibility to pay the liabilities of the firm at the time of dissolution then it should be credited to.

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Partner's capital account

Realization account

Liabilities accounts

Cash accounts

On the addimissionof a new partner the increase int he value of assets is debited

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Revaluation account

Assets account

Old partners capital account

New partners capital account

Partnership is formed by the partners.

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Written agreement

Mutual consent

Verbal agreement

None of these

The figure of the bills receivable can be worked out from.

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Total debtors account

Total creditors account

Trail balance

Balance sheet

Amount received by the concern as per the will of the donor is known as.

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Lagacy

Donation

Subscription

None of these

The partnership may come to an end due to the

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Death of a partner

Involvency of a partner

Both of the above

None of these

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