Accounting - Study Mode
[#861] "Make sufficient provisions for future losses, but do not anticipate future profits." The statement is in accordance to the concept of
Correct Answer
(C) Conservatism
[#862] Whom of the following is paid at last on the dissolution of a company?
Correct Answer
(B) Equity shareholder
[#863] Functions of managerial accounting and cost accounting interacting with each other-
Correct Answer
(A) Complementary nature
[#864] Liquidity ratios are used:
Correct Answer
(C) To judge a firm's ability to meet short-term obligations
[#865] A, B, Co. Ltd. forfeited 20 shares of Rs. 10 each, Rs. 7 called up on which C had paid application and allotment money of Rs. 5 per share. Of these, 15 shares were reissued to D @Rs. 6 per share as fully paid-up for Capital Reserve account would be:
Correct Answer
(A) Rs. 15