Accounting - Study Mode
[#96] When goods distributed as free samples and charity purpose, one of the following journal entry mentioned below is correct.
Correct Answer
(B) Advertisement account Dr - To purchase account
[#97] X and Y are partners who share profit and loss in the ratio of 2 : 1, and who have capital balances (credit) of Rs. 40,000 and Rs. 30,000 respectively. If Z, with the consent of Y, acquired one-half of X's interest for Rs. 25,000, for what amount would Z's Capital Account be credited:
Correct Answer
(D) Rs. 20,000
[#98] The main source of working capital is-
Correct Answer
(D) Retained earnings
[#99] The people to adopt a new product first are called
Correct Answer
(D) Innovators
[#100] A and B are partners. A died in an accident so:
Correct Answer
(C) firm and partnership both will be dissolved