Accounting - Study Mode
[#816] Security premium account can be used for which of the following purpose?
Correct Answer
(D) All of the above
[#817] The convention of conservatism when applied to a Balance Sheet results in:
Correct Answer
(C) understatement of assets
[#818] A, B and C were partners in a business who shared profits and losses in the ratio of $$frac{1}{5}:,frac{1}{3}:,frac{7}{{15}}$$ xa0 respectively. C retired and his share was purchased by A and B in the ratio of 3 : 2. The new profit sharing ratio of A and B will be:
Correct Answer
(C) 12 : 13
[#819] Intrinsic value of share can be determined by
Correct Answer
(B) Net asset method
[#820] In asset turnover ratio we see-
Correct Answer
(B) Relationship between property and net sales