Question # 1

Under which method the book value of the fixed assets acn be reduce to zero after certain year

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Diminishing balance method

Straght line method

Depreciation find fond

Deflation method

Example of non-profit making organization

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Fan factory

Sugar industry

Hospital

Shoe factory

Excess of assets over liabilities is an indication of.

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Solvency

Insolvency

Deficiency

Loss

Bad debt written off always affect the

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Deblor's account

Creditors account

Cash account

All of the above

Income and expenditure account is debited with all.

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Expenses

Incomes

Liabilities

Assets

The joint stock company is formed under companies ordiance.

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1984

1974

1884

1962

Both aspects of a transaction must be recorded in,

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Single entry system

Barter system

Double entry system

Islamic system

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

Consignee is.

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A principal

An agent

A debtor

A creditor

The income and expenditure account begins with.

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Opening debit balance

Opening credit balance

Opening balance

None of these

Income and expenditure account shows

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Cash in hand

Surplus or deficit

Cash at bank

Capital account

Dividend is calculated on.

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Registered capital

Issue Capital

Paid up Capital

Subscribed Capital

Normaly the discount on the shares should not exceed from

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Five percent

Eight percent

Twenty percent

Ten percent

The periodical report which is prepared by consignee and send to consignor, which shows the detail about the sales of goods is called.

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Sales account

Performa invoice

Account sales

None of these

Sacrificing rations are equal to.

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Capital Ratios- New ratios

Old ratios - New ratios

New ratio - old ratios

None of these

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