Accounting - Study Mode

[#656] The term, 'imprest system' is used in relation to:
Correct Answer

(D) Petty Cash Book

[#657] Which one of the following pair is not correctly matched?
Correct Answer

(B) Profit and Loss (Appropriation) A/c ⇔ Unclaimed Dividend

[#658] When a purchasing company pays purchase consideration, it will be debited to
Correct Answer

(A) Liquidator of selling company's account

[#659] A, B and C are partners in a firm. Their profit sharing ratio is 4 : 3 : 2. What will be their sacrificing ratio upon admission of D?
Correct Answer

(B) 4 : 3 : 2

[#660] When liquidation expenses are paid and borne by the seller company, then it is debited to
Correct Answer

(A) Realization A/c