Accounting - Study Mode

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[#2196] Subscriptions received in advance will figure in the . . . . . . . .

(A) balance sheet

(B) receipts and payment account

(C) income and expenditure account

(D) revenue account

Correct Answer

(A) balance sheet

[#2197] Match List-I with List-II and select the correct answer using the options given below the lists: List-I List-II a. Uncertain liability 1. Amortisation b. Expiry of tangible asset 2. Long-term liability c. Basis for all valuations in the balance sheet 3. Research and development d. Accounting standard-As-8 4. Estimated obligation 5. Conservatism convention

(A) a-5, b-1, c-2, d-3

(B) a-4, b-3, c-5, d-1

(C) a-5, b-3, c-4, d-1

(D) a-4, b-1, c-5, d-3

Correct Answer

(D) a-4, b-1, c-5, d-3

[#2198] Which of the following represents source of fund in the balance sheet of a company?

(A) secured loan

(B) share capital

(C) reserves & surplus

(D) All of these

Correct Answer

(D) All of these

[#2199] Accounting equation is based on-

(A) Going concern concept

(B) Dual aspect concept

(C) Money measurement concept

(D) Cost concept

Correct Answer

(B) Dual aspect concept

[#2200] Some of the items of liability are given below i. Bank overdraft ii. Debenture iii. Loan from financial institution iv. Unpaid wages v. Creditors Current liabilities in the above are

(A) iv and v

(B) i, iii and iv

(C) i, iv and v

(D) All of these

Correct Answer

(C) i, iv and v