Accounting - Study Mode
[#251] Match List-I and List-II and Select the correct answer: List-I List-II a. Loss in business 1. Profit & Loss Adjustment A/c b. Partner loan 2. Joint Life Policy c. Death of Partners 3. Debit balance of Profit and Loss A/c d. Revaluation A/c 4. 6% Interest
Correct Answer
(A) a-3, b-4, c-2, d-1
[#252] Responsibility accounting seeks to establish a relationship between planning and controlling by:
Correct Answer
(B) fixing organisational responsibilities for profit planning and controlling
[#253] A public company acquired the following assets and liabilities of a firm : Building Rs. 25,000, Machinery Rs. 15,000 Debtors Rs. 10,000, Stock Rs. 15,000 and Creditors Rs. 8,000. What will be the amount of goodwill or capital reserve if the purchase consideration of the business was Rs. 54,000.
Correct Answer
(B) Rs. 3,000 Capital reserve
[#254] Under which type of agreement royalty is paid on the basis of sale?
Correct Answer
(C) Copy right
[#255] What is the another name of managerial accounting?
Correct Answer
(C) Decision accounting