Accounting - Study Mode
[#266] Income accrued and received' results in-
Correct Answer
(B) Increase in assets and increase in capital
[#267] For equity-settled share-based payment transactions, the entity shall measure the goods or services received and the corresponding increase in equity, directly at the . . . . . . . . of the goods or services received, unless that it cannot be estimated reliably
Correct Answer
(C) fair value
[#268] In settling the accounts of a firm after dissolution losses including deficiencies of capital, shall be paid in which sequence? 1. By the partners individually in profit sharing ratio. 2. Out of profit. 3. Out of capital. Select the correct answer:
Correct Answer
(D) 2, 3 and 1
[#269] Which of the following statements is true in connection with Receipt and Payment A/c.
Correct Answer
(B) It is a Real A/c
[#270] Gross Profit Ratio is calculated by
Correct Answer
(B) $$frac{{{ ext{Gross Profit}}}}{{{ ext{Net Sales}}}} imes 100$$