Question # 1

To make provision for the replacement of the assets. the method is to be ysed is.

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Written down value method

Annuity method

Sinking fund method

Insurance policy method

Reserve for bad and doubtful debts appearing in the books of accounts at the time of dissolution shuld be transferred to.

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Realization account

Revalution account

Debtors account

None of these

In case of dissolution, assets sold for cash are debited to

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Realization account

Cash account

Assets account

None of these

When a firm dissolved with the consent of all the partners it is called.

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Dissolution by notice

Dissolution by agreement

Dissolution by court

Compulsory dissolution

The relation ship between consignor and consignee is thet of.

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Buyer and seller

Debtorsde creditor

Whole seller or retailer

Principal and agent

The amount of share capital with which a company is registered is called.

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Authorized capital

Issued capital

Paid up capital

Called up capital

The consignee acts entirely on behalf of the

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Debtors

Creditors

Customer

Principal or consignor

Those debentures which carry no security as to payment of interest or repayment of principal, are known as.

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Morgagage debentures

Secured debentures

Simple of naked debentures

None of these

A receipts and payments account is similar to

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An income and expenditure

A statement of affair

A cash or a bank account

A profit or loss account

Depreciation under diminishing balance method ont he cost price of the fixex asset of Rs. 50.000 after two year @10% will be

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RS. 5,000

Rs. 4050

Rs.4500

Rs. 40,000

The gaining ratio are calculated on.

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Admissionof a partner

Death of a partner

Retirement of a partner

None of these

Receipt and payment account is prepared at the.

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Start of the year

End of the year

Mid of the financeial year

None of these

The rules and regulation foverning the internal management and administration of the company are called.

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Memorandum of assocaition

Articles of association

Prospectus

None of these

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 account of non trading concern are generally maintained according to.

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Mereantile accounging system

Double entry system of book keeping

Cash accounting system

None of the above

A partner goes out of a firm due to certain event or reason is known as.

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Retired or out going partner

Junior partner

Senior partner

Minor partner

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