Accounting - Study Mode
[#1171] Liability of a member in case of a private company can be
Correct Answer
(C) Both A and B
[#1172] Match the following: List-I List-II a. Measurement of income 1. Accrues to the equility of curves b. Recognition of expense 2. Recognition of revenue c. Basis of realisation 3. Matching revenue with expenses d. Identification of revenue 4. Accounting period
Correct Answer
(B) a-2, b-1, c-3, d-4
[#1173] If net loss is Rs. 5,000, General expenses are Rs. 14,500, Sales amount to Rs. 25,000, the Gross Profit will be:
Correct Answer
(D) Rs. 9,500
[#1174] Income and expenditure account reveals . . . . . . . .
Correct Answer
(B) surplus or deficiency
[#1175] Which of the following is not capital expenditure?
Correct Answer
(D) Purchase of new spark plug at a cost of Rs. 8.50 for a two-year old car