Accounting - Study Mode
[#1166] X Ltd, has current ratio of 2 : 1 and Quick ratio of 1.5 : 1. If its current liabilities are Rs. 60,000, then the value of stock would be:
Correct Answer
(C) Rs. 30,000
[#1167] The need for showing contingent liability in the balance sheet arises out of the convention of:
Correct Answer
(C) disclosure
[#1168] As per Partnership Act, which of these rights are available to a partner?
Correct Answer
(D) Equal profit
[#1169] Unrealized dividend is shown under which of the following head in company balance sheet?
Correct Answer
(C) Current liabilities
[#1170] The 'going concern concept' is the underlying basis for
Correct Answer
(A) Depreciating fixed assets over their useful life