Accounting - Study Mode
[#1686] General office expenses are charged to which of the following head?
Correct Answer
(A) Administrative expenses
Explanation
Solution: General office expenses are charged to Administrative expenses head because we know that all types of official expenses are known as administrative expense.
[#1687] X and Y are partners in a firm sharing profits in the ratio of 3 : 1. They admit Z as a partner with new profit sharing ratio of 2 : 1 : 1. The amount of goodwill brought in by new partner will be credited to
Correct Answer
(B) Only X
[#1688] Part of capital which can be called-up at the time of winding up of company is called:
Correct Answer
(A) Reserve capital
[#1689] Garner Vs Murray case arised in
Correct Answer
(D) England
[#1690] Which of the following types of goodwill is considered to be the best?
Correct Answer
(B) Cat goodwill