Question # 1

The closing balance of trade debtors can be located from.

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Total debtors account

Balance sheet

Bils receivable account

Cash book

Realizaton account is a.

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Nominal account

Real account

Personal account

Cash account

Surplus balance cna be shown in the balnce sheet as.

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Asset

Liability

Owner's equity

None of these

Share capital int he balance sheet is known as.

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Asset

Liability

Income

Reserve

Premium on issue of share is a.

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Capital profit

Business loss

Revenue profit

Revenue loss

Interest on drawing is debited to.

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Partners capital accounts

Profit and loss account

Interest account

None of these

The main sources of income of for on -trading concern is.

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Subscriptions

Donations

Sales

Dividends on investment

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

A situation where a company receives more application than actual number of shares offered to the public for subscriptions is termed as.

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Oversubscription

Udner subscription

No subscripition

None of these

A situation where a company receives application for a less number of shares than offered to the public for subscription is termed as.

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Oversubscription

Under subscription

No subscription

None of these

Single entry systme can bot be maintained by.

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Sole owner

Partnership concern

Joint stock companies

All of the above

The asses which have physical existence are called.

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Intangible assets

Intangible fixed assets

Tangible fixed assets

Both tangible or intangible assets

If the debit side of the income and expenditure account is greater thanthe credit sideit is termed as.

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Surplus

Deficit

Assets

Liabilities

The persons who have entered in partnership are collctive called.

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A firm

Agents

Partners

Promoters

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

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Gaining ratio

Serching ratio

Capita ratio

New ratio

Under aunuity method, the annual charger for depreciation wil be debited to.

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Assets account

Depreciation account

Interest account

None of these

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