Accounting - Study Mode
[#2536] The term 'depletion' is used in relation to
Correct Answer
(B) Wasting assets
[#2537] A retiring partner continues to be liable for obligations incurred after his retirement:
Correct Answer
(B) If he does not give public notice
[#2538] Which of the following is not current asset?
Correct Answer
(D) Purchase
[#2539] The profit ratio of A, B and C, who are partners in a firm is 4 : 3 : 2. After D is admitted their sacrificing ratio will be:
Correct Answer
(B) 4 : 3 : 2
[#2540] Study the following transactions. 1. Raising of short-term loans. 2. Goods purchased for cash. 3. Payment of bonus in the form of shares. 4. Issue of shares in lieu of raw materials. Select the correct answer:
Correct Answer
(A) Only 4