Principles of Accounting Icom Part 2 English Medium Online Test With Answers

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Principles of Accounting Icom Part 2 English Medium Online Test

Sr. # Questions Answers Choice
1 The objective of charging depreciation on fixed assets is. Calculate the true net profit To provide funds for the replacement To redue the tax libility All of the above
2 Value of the good will is calculated under capitalization formula. Average profit / reasonable return x 100 Resonable return / average profit x 100 Averager profit x 100 / resonable return None of these
3 The retired is one who has Died Withdraw his capital Bought his capital Decreases his capital
4 The which is calculated at the time of retirment of partner is Gaining ratio Serching ratio Capita ratio New ratio
5 Registered company is 2 3 4 5
6 Kind of company is. 2 3 4 5
7 A situation where a company receives more application than actual number of shares offered to the public for subscriptions is termed as. Oversubscription Udner subscription No subscripition None of these
8 A situation where a company receives application for a less number of shares than offered to the public for subscription is termed as. Oversubscription Under subscription No subscription None of these
9 The owner wquity in a company is commonly called. Shareholder equity promotors equity Directors equity None of these
10 premium on issue of shares is shown in. Assets side of balance sheet Liabilities side of balance sheet Trading account Profit and loss account
11 The amount of share capital with which a company is registered is called. Authorized capital Issued capital Paid up capital Called up capital
12 The debentures which does not carry any charges o the assets of the company. Simple debentures Mortagage debentures Redeemable debentures None of these
13 Ordinary shares are also known as. Equity shares Deffered shares Bonus shares Preference shares
14 Premium on issue of share is a. Capital profit Business loss Revenue profit Revenue loss
15 The face value of the share is also known as. Book value Par value Market value None of these
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