Accounting - Study Mode
[#2411] Capital account is opened in case of:
Correct Answer
(B) Partnership of business
[#2412] According to Section 80 of the Companies Act, 1956, a company cannot redeem its Preference shares out of:
Correct Answer
(D) Out of sale proceeds of fixed assets
[#2413] A person starts a business with a capital of Rs. 45,000. He purchased goods on credit worth Rs. 5,000. These transactions can be expressed in an accounting equation as-
Correct Answer
(C) Rs. 50,000 = Rs. 45,000 + Rs. 5,000
[#2414] Those preference shares which do not carry the right of share in excess profits are known as . . . . . . . . preference shares.
Correct Answer
(D) non-participating
[#2415] . . . . . . . . is given to promote sales.
Correct Answer
(B) Trade discount