Accounting - Study Mode
[#2161] Which is the convention of accounting, where in there is no overvaluation of assets and incomes:
Correct Answer
(C) Conservatism
[#2162] Ram and Shyarn are partners in a firm with a capital of Rs. 4,80,000 and Rs. 3,10,000 respectively. They admitted Ganesh as a partner with $${frac{1}{4}^{{ ext{th}}}}$$ share of profit, and Ganesh brings Rs. 3,00,000 as his capital. Ganesh's share of goodwill will be
Correct Answer
(B) Rs. 27,500
[#2163] Match List-I with List-II and choose answer List-I List-II a. Cash 1. Equity share capital b. Profit 2. Permanent property c. Discount on issue of shares 3. Virtual asset d. Machinery and plant 4. Current asset
Correct Answer
(B) a-4, b-1, c-3, d-2
[#2164] In case of a company "Buy Back" is related to:
Correct Answer
(B) Shares
[#2165] Indicate which of the following is correct?
Correct Answer
(A) Net profit + Operating expenses + Cost of goods sold = Sales