Accounting - Study Mode
[#216] Funds will be considered inflow in the followiong situation if
Correct Answer
(C) Cash machine was purchased
[#217] A and B are partner in a partnership firm sharing profit and losses in 3 : 1. C is admitted for $${frac{1}{3}^{{ ext{rd}}}}$$ share. New profit sharing ratio between A, B and C is
Correct Answer
(B) 3 : 1 : 2
[#218] The most popular system of accounting used in public utility concerns is:
Correct Answer
(B) Double Account System
[#219] The term 'Amortisation' is generally used to indicate the fall in value of the following:
Correct Answer
(B) Intangible fixed assets
[#220] In financial accounting, ledger posting is a process of:
Correct Answer
(B) Classifying