Accounting - Study Mode
[#1296] Which of the following items will be written in a partner's capital account when the capital accounts are fixed?
Correct Answer
(B) Additional capital introduced by the partner in the firm
[#1297] Depreciation is a process of:
Correct Answer
(C) Both of allocation and valuation
[#1298] Given that, Inventory turnover ratio = Rs. 6 Time Average inventory = Rs. 8,000 Selling price = Rs. 25% More then the cost. What will be the amount of gross profit?
Correct Answer
(D) Rs. 12,000
[#1299] Donations received for a special purpose will be taken to the:
Correct Answer
(C) Liabilities side of the Balance Sheet
[#1300] Which one of the following statement is true?
Correct Answer
(C) Capital expenditure affects the profitability of a concern indirectly, but revenue expenditure affects directly