Accounting - Study Mode

[#1181] A particular firm provided the following data for an accounting year Current ratio = 2.5 : 1 Liquid ratio = 1.5 : 1 Net working capital = Rs. 6,00,000 Current assets and current liabilities of the firm are, respectively:
Correct Answer

(B) Rs. 10,00,000 and Rs. 4,00,000

[#1182] The cost of a machine having a span of life of 5 years is Rs. 1,00,000. It has a scrap value of Rs. 10,000. The amount of depreciation under the sum of years, digit method will be:
Correct Answer

(D) Rs. 30,000

[#1183] A bank can open a branch only at the permission of the . . . . . . . .
Correct Answer

(B) RBI

[#1184] Cash book is an example of-
Correct Answer

(A) Simple journal

[#1185] Liquid Ratio is calculated as follows:
Correct Answer

(C) $$frac{{{ ext{Liquid Assets}}}}{{{ ext{Current Liabilities}}}}$$