Accounting - Study Mode
[#321] . . . . . . . . implies issue and allotment of shares to a selected group of persons and not to general public.
Correct Answer
(C) Private placement
[#322] Depreciation, as the term is used in accounting, means:
Correct Answer
(C) allocation of the cost of fixed asset over its useful life
[#323] Returns outward book makes a record of:
Correct Answer
(A) goods returned to the suppliers
[#324] The balance in capital reduction a/c after writing off all accumulated loss, fictitious assets and overvalued assets are transferred to . . . . . . . .
Correct Answer
(A) capital reserve
[#325] Forfeiture of shares results in compulsory termination of . . . . . . . . due to non-payment of allotment/call money.
Correct Answer
(B) membership