Accounting - Study Mode

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[#2051] $$frac{{{ ext{Changes in Profit}}}}{{{ ext{Changes in Sales}}}} imes 100 = .,.,.,.,.,.,.,.$$

(A) Break Even Point

(B) P/V Ratio

(C) Contribution

(D) % increase in sales

Correct Answer

(B) P/V Ratio

[#2052] The nature of 'Commission' received in advance account is

(A) Real account

(B) Unreal account

(C) Personal account

(D) None of the above

Correct Answer

(C) Personal account

[#2053] X Ltd. forfeited 40 share of Rs. 10 each and on which Rs. 4 per share were paid. If the forfeited share are reissued as Rs. 8 per share paid up, what is the minimum price the company must charge?

(A) Rs. 2 per share

(B) Rs. 4 per share

(C) Rs. 8 per share

(D) Rs. 10 per share

Correct Answer

(B) Rs. 4 per share

[#2054] If a share of Rs. 10 Issued at a discount of 10%, on which full amount has been called up, is forfeited for non-payment of final call of Rs. 2, the share capital account should be debited by:

(A) Rs. 8

(B) Rs. 9

(C) Rs. 10

(D) Rs. 11

Correct Answer

(C) Rs. 10

[#2055] A prospectus for inviting subscription in shares or debentures can be issued only by

(A) Public Company

(B) Private Company

(C) Both of the above

(D) None of the above

Correct Answer

(A) Public Company