Accounting - Study Mode
[#821] Fixed Assets Rs. 14,40,000 Net Worth Rs. 15,00,000 Debt (Long-term) Rs. 9,00,000 Other current assets Rs. 7,60,000 Currents liabilities Rs. 6,00,000 The currnet ratio is
Correct Answer
(B) 2.6 : 1
[#822] X and Y are partners in a firm sharing profits in the ratios of 2 : 1. Z is admitted with a $${frac{1}{3}^{{ ext{rd}}}}$$ profit sharing. What will be the new profit sharing ratio of X, Y and Z?
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(C) 4 : 2 : 3
[#823] The items which increases the owner's capital as a result of business transactions are called-
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(B) Income
[#824] According to conservation concept, stock will be valued at
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(C) Cost price or market price whichever is less
[#825] Liquidator's statement of receipts and payment is known as
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(C) liquidator's final statement of account