Accounting - Study Mode
[#1436] During the Year 2004, the income from subscription was Rs. 4,500, subscription received in advance Rs. 360. On 31 st December 2004, the outstanding subscription was Rs. 140. The amount of subscription to be shown in Receipts and Payments a/c for the year 2004 would be
Correct Answer
(D) None of the above
[#1437] When a company takes over another one and clearly becomes a new owner, the action is called
Correct Answer
(B) acquisition
[#1438] In case of inter-company holdings, the purchasing company, at the time of payment of the purchase consideration surrenders the shares in the vendor company by crediting
Correct Answer
(B) Shares in the Vendor Company's A/c
[#1439] Which of the following is 'true' regarding the Prudence Principle of Accounting?
Correct Answer
(A) Taking care of the future losses
[#1440] Paid salary Rs. 2,000 to Mohan. Which account will be debited in this transaction?
Correct Answer
(D) Salary account