Accounting - Study Mode

[#2081] When dividend is actually received on due date
Correct Answer

(B) the pro-rata amount relating to the period after the date of acquisition is entered in the income column (Cr) of the investment account

[#2082] If the cost of goods sold is Rs. 1,00,000, the value of opening stock is Rs. 20,000 and closing stock is Rs. 80,000, then the stock turnover ratio will be:
Correct Answer

(C) 2 times

[#2083] Which of the following statements is not true?
Correct Answer

(C) Wages paid for the installation of a new machine is usually debited to wages account

[#2084] Premium on issue of equity shares is:
Correct Answer

(A) Capital income

[#2085] Inventory Turnover Ratio is:
Correct Answer

(C) Cost of sales/average stock