Accounting - Study Mode
[#2066] A and B invest Rs. 2,00,000 and Rs. 1,00,000 respectively in a partnership, and agree to divide profit and loss equally after providing for interest @ 10% per annum on original capital, and salaries of Rs. 24,000 and Rs. 48,000 respectively. How much amount A would get if the period's net income (before interest and salaries) is Rs. 90,000:
Correct Answer
(C) Rs. 36,000
[#2067] Match the following: List-I List-II a. Intangible assets 1. Ind AS-31 b. Impairment of assets 2. Ind AS-34 c. Interim financial reporting 3. Ind AS-36 d. Interests in joint ventures 4. Ind AS-38
Correct Answer
(A) a-1, b-2, c-3, d-4
[#2068] Amongst the following statements, find the odd one out with regards to book keeping.
Correct Answer
Book keeping has limited scope and concerned with recording, classifying & summarizing
[#2069] Balance Sheet depicts:
Correct Answer
(D) Financial position
[#2070] A prepayment of insurance premium will appear in the Balance Sheet and in the Insurance Premium account respectively as:
Correct Answer
(B) An asset and a debit balance