Accounting - Study Mode
[#986] Which method has been specially designed to provide funds for replacement of assets?
Correct Answer
(B) Depreciation fund method
[#987] Which of the following transactions are of capital nature?
Correct Answer
(B) Purchase of truck by a company
[#988] Capital at the beginning of the year Rs. 10,500, Annual drawing Rs. 6,500, Additional capital introduced during the year Rs. 3,500. What will be capital at the end if there is no profit or loss?
Correct Answer
(A) Rs. 7,500
[#989] The unfavourable balance of Profit and Loss Account should be:
Correct Answer
(C) Substracted from capital
[#990] X, Y and Z share profit and losses in the ratio of 5 : 3 : 2, Z retires and his share is taken by X and Y in the ratio of 1 : 2. The new profit-loss sharing ratio between X and Y will be:
Correct Answer
(A) 17 : 13