Accounting - Study Mode
[#511] Profit on re-issue of forfeited share is transferred to which account?
Correct Answer
(B) Capital reserve account
[#512] Debentures can be redeemed by:
Correct Answer
(D) Any of the method mentioned in A, B and C above
[#513] Distribution of income by way of public expenditure is
Correct Answer
(C) Social services
[#514] If the cost of goods sold is Rs. 1 lakh, the value of opening and closing is Rs. 20,000 and Rs. 30,000 respectively, the stock turnover ratio will be:
Correct Answer
(B) 4 times
[#515] In absence of an agreement, loss arising out of a partner becoming insolvent shall be borne by solvent partner in
Correct Answer
(C) Their profit sharing ratio