Accounting - Study Mode
[#1316] Match the items of the following two lists and indicate the correct answer: List-I List-II a. Earning ability of a firm 1. Basis of accounting b. Conservatism 2. P/V ratio c. Cash profit 3. Cash flow statement d. Cash and accrual 4. Prudence
Correct Answer
(A) a-2, b-4, c-3, d-1
[#1317] The more accurate guide to liquidity of a firm is provided by:
Correct Answer
(B) The quick ratio
[#1318] A machine was purchased on 1 st January 1987. It was depreciated by written down value method at the rate of 10% P.A. The depreciated value of machine as on 1 st January 1990 is Rs. 13,122. The cost of machine on 1 st January 1990 was
Correct Answer
(B) Rs. 18,000
[#1319] Closing stock appearing in the Trial Balance is shown in:
Correct Answer
(A) The Balance Sheet only
[#1320] ABC Ltd., forfeited 20 shares of Rs. 10 each on which Rs. 6 per share were paid. If out of these shares 8 shares were reissued to Hari as fully paid up on payment of Rs. 5.50 per share, the amount that will stand to the credit of Share Forfeited A/c will be
Correct Answer
(B) Rs. 72