Accounting - Study Mode
[#1451] Shares which carry preferential rights are called . . . . . . . .
Correct Answer
(B) preference shares
[#1452] When an incoming partner purchases his share from any one of the existing partners, then:
Correct Answer
(A) total assets of the firm do not change
[#1453] Which of the following is considered as an asset while calculating purchase consideration?
Correct Answer
(D) All of these
[#1454] A firm which keeps its books of accounts on single entry system has opening balance and closing balance of Bills Receivable as Rs. 9,000 and Rs. 11,000 respectively. Bills collected during the financial period amount to Rs. 20,000. Bills receivable received during the financial period amount to:
Correct Answer
(A) Rs. 22,000
[#1455] Reinsurance is common in . . . . . . . .
Correct Answer
(B) general insurance