Accounting - Study Mode
[#1201] Debenture holders:
Correct Answer
(D) are the creditors of the company
[#1202] Credit balance of bank account represents-
Correct Answer
(B) A liability
[#1203] Bad Debt in Departmental Accounts is:
Correct Answer
(D) Divided on the basis of credit sales
[#1204] According to the money measurement concept, which among the following will be recorded in the books of account of the business:
Correct Answer
(C) Value of plant and machinery
[#1205] A and B are partners in a firm and share profits and losses in the ratio of 3 : 2. C joins firm as new partner and contributes Rs. 6,000 as premium for goodwill in cash. Here, the premium for goodwill shall be shared by A and B on the basis of new profit sharing ratio, that is 5 : 3 : 2 as
Correct Answer
(B) Rs. 3,000 : Rs. 3,000