Accounting - Study Mode

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[#991] Match List-I with List-II and select your answer: List-I List-II a. Shareholders 1. Creditors of the company b. Debenture holders 2. Paid at the end of a predetermined period c. Redeemable Debenture 3. Joint owners of the company d. Bearer 4. Transferred by Debenture mere delivery

(A) a-2, b-3, c-1, d-4

(B) a-3, b-1, c-2, d-4

(C) a-2, b-4, c-1, d-3

(D) a-1, b-3, c-4, d-2

Correct Answer

(B) a-3, b-1, c-2, d-4

[#992] On dissolution of a firm, the balance of provision for Bad Debts Account is transferred to:

(A) General Reserve Account

(B) Debtors Account

(C) Realisation Account

(D) Partner's Capital Account

Correct Answer

(C) Realisation Account

[#993] A company, A Ltd., issued a prospectus inviting applications for 2,000 shares. Applications were received for 3,000 shares, and pro-rata allotments were made on the applications of 2,400 shares. If A was allotted 40 shares, for how many shares he must have applied?

(A) 40

(B) 44

(C) 48

(D) 52

Correct Answer

(C) 48

[#994] Suspense Account is shown in-

(A) Trading Account

(B) Profit and Loss Account

(C) Balance Sheet

(D) Not shown anywhere

Correct Answer

(C) Balance Sheet

[#995] Suspense account is-

(A) A real account

(B) A Nominal account

(C) A personal account

(D) None of the above

Correct Answer

(A) A real account