Question # 1

If the price required to be paid to the company for the share is equal to the nominal value of that share it is called.

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At discount

At premium

At par

None of these

The debentures which does not carry any charges o the assets of the company.

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Simple debentures

Mortagage debentures

Redeemable debentures

None of these

The debentures which are repayable at the end of a specified period are termed as.

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Redeemeble debentures

Irredeemable debentures

Repayable debetures

None of these

Net worth is equal to,

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Assets - Liabilities

Liabilities - Assets

Liabilities + Capital

Capital + Assets

Kind of company is.

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2

3

4

5

In single entery system only.

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Personal account are maintained

Real account are maintained

Nominal accounts are maintained

None of the above

Donation receivedin heavy amount are treated as.

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Revenue

Capitaized

Liability

Assets

Income and expenditure account shows.

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Surplus or deficit

Not profit or net loss

Capital account

Cash in hand

The joint stock company is formed under companies ordiance.

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1984

1974

1884

1962

The expense incurred by the oconsignee in connection with the sale of the consignment goods are debited to.

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Consignment account

Cash account

Consignor account

None of these

The which is calculated at the time of retirment of partner is

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Gaining ratio

Serching ratio

Capita ratio

New ratio

If the good will raised at the time of retirement of a partner is to be written off, then the capital accounts of the remaiing partners are debited in.

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Capital ratio

Old profit sharing ratio

New profit shiaring ratio

None of these

The method for preparing the final accounts in trading concerns and non-profit making organizations are

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Same

Different

Easy

Difficult

the term depreciationis used with reference to.

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Tangible assets

Intangible asets

Current assets

Fixed assets

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

Amount received by the way of gift from any person or organization is called.

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Donation

Subscription

Legacy

None of these

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

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