Accounting - Study Mode
[#2586] Assets in the beginning of the year Rs. 10,000, Assets at the end of the year Rs. 18,000, Drawing during the year Rs. 2,000. Therefore the profit is:
Correct Answer
(C) Rs. 10,000
[#2587] Conversion of physical shares into electronic securities is called . . . . . . . .
Correct Answer
(A) dematerialization
[#2588] Company accounting conforms more to dual aspect concept than to incomplete recording system because: I. Companies Act insists upon the adoption of double entry systems of book keeping II. Balance sheet could not be preprared under sec. 211 of Company's Act according to the incomplete recording system III. To show true and fair view of the affairs of the company IV. To ensure adequate disclosure Select the correct answer from the options given below and mark your answer sheet accordingly.
Correct Answer
(D) I, II and III
[#2589] The prime function of accounting is to:
Correct Answer
(C) classifying and recording business transactions
[#2590] The purpose of ledger is to
Correct Answer
(D) All of the above