Accounting - Study Mode

[#2136] If share of face value of Rs. 10 is sold at Rs. 12 then Rs. 2 will be regarded as
Correct Answer

(A) Premium

[#2137] Which of the following has the purpose of taking responsibility?
Correct Answer

(C) Ownership

[#2138] The profit sharing ratio of ABC is $$frac{1}{2},,frac{2}{5},,frac{1}{{10}}.$$ xa0 After retirement of A, remaining partner's ratio will be
Correct Answer

(A) 4 : 1

[#2139] The directors of company forfeited 1,000 shares of Rs. 10 each, Rs. 7.5 paid-up for non-payment of call money @ Rs. 2.5 per share, 700 of this shares are re-issued @ Rs. 7 per share. The amount transfer to Capital Reserve A/c would be
Correct Answer

(B) Rs. 3,150

[#2140] Which of the following is a type of cash receipt journal + cash payment journal?
Correct Answer

(C) Cash book

Explanation

Solution: Cash book is a type of cash receipt journal + cash payment journal. A cash book is a financial journal that contains all cash receipts and payments, including bank deposits and withdrawals.