Accounting - Study Mode
[#2721] Earned, but yet not received income is treated as
Correct Answer
(A) Assets
[#2722] Secret reserves may not result by:
Correct Answer
(C) Dividend equalization reserve
[#2723] If the operating ratio is 91.5 operating profit ratio will be:
Correct Answer
(B) 8.5%
[#2724] The balance of property at cost has been Rs. 20,000 and Rs. 17,000 in 2015 and 2016, respectively. The profit on the sale of property of Rs. 2,000 is credited to capital reserve account and a new property costing Rs. 5,000 was bought in 2016. Determine the sale proceeds from the property.
Correct Answer
(C) Rs. 10,000
[#2725] In the balance sheet, the preliminary expense of Rs. 10,000 was reduced to Rs. 500. It will be considered as.
Correct Answer
(C) Adjustment in profit from operation