Accounting - Practice Test

(A) For each call, at least 14 days notice to be given

(B) An interval of 30 days is required between two successive share calls

(C) Not more than 40% of the nominal value of the share can be called at a time as a call

(D) As prescribed by SEBI, capital issues have to be made fully paid up within 12 months, if the total issue size is less than Rs. 500 crore

(C) Not more than 40% of the nominal value of the share can be called at a time as a call

(A) The proceeds of the sale of plant and equipment

(B) Money received from insurance company as a result of crashing a delivery vehicle

(C) A refund received from a supplier as compensation for damaged stock supplied

(D) None of the above

(C) A refund received from a supplier as compensation for damaged stock supplied

(A) 20%

(B) 33%

(C) 40%

(D) 60%

(C) 40%

(A) Current asset

(B) Current liability

(C) Capital expenditure

(D) Revenue expenditure

(B) Current liability

(A) Revaluation account

(B) Profit and loss adjustment account

(C) Realisation account

(D) Profit and loss appropriation account

(C) Realisation account

Accounting - Study Mode