Accounting - Study Mode

[#226] Which of the following is not a source of redemption of preference shares?
Correct Answer

(C) realization of asset

[#227] A sale of goods to Vidhya for cash should be debited to . . . . . . . .
Correct Answer

(B) Cash account

[#228] Which one of the following accounting standards is not mandatory in India?
Correct Answer

(C) Non-monetary assets and fixed assets

[#229] The amount set aside to meet the loss of bad debt is . . . . . . . .
Correct Answer

(C) provision

[#230] A company cannot issue redeemable preference shares for a period exceeding . . . . . . . .
Correct Answer

(B) 7 years