Accounting - Study Mode
[#1846] Firm has earned exceptionally high profits from a contract, which will not be renewed. In such a case, this profit will not be included in . . . . . . . .
Correct Answer
(B) calculation of the goodwill
[#1847] Which of the following is not a subsidiary book?
Correct Answer
(D) Assets books
[#1848] Match list-I with list-II and select your answer: List-I (Assets) List-II (Method of Depreciation) a. Patterns 1. Annuity Method b. Motor Lorries 2. Revalution Method c. Copy-right 3. Fixed Instalment Method d. Live Stock 4. Diminishing Balance Method
Correct Answer
(B) a-1, b-3, c-2, d-4
[#1849] A, B and C are partners sharing profits and losses in 5 : 3 : 2. What will be new profit sharing ratio between A and C if B decided to take leave from the firm?
Correct Answer
(C) 5 : 2
[#1850] Which of the following errors cannot be located by the Trial Balance:
Correct Answer
(C) Errors of omission in posting