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[#436] As per AS-ll construction contracts, costs that may be attributable to contract activity in general and can be allocated to specific contracts include 1. insurance 2. freight 3. costs of design and technical assistance that is not directly related to a specific contract 4. manufacturing overheads 5. construction overheads Select the correct answer:

(A) 1, 3 and 5

(B) 2, 3 and 4

(C) 3, 4 and 5

(D) 1, 2 and 3

Correct Answer

(A) 1, 3 and 5

[#437] Goodwill is a/an:

(A) Tangible Asset

(B) Intangible Asset

(C) Fictitious Asset

(D) Current Asset

Correct Answer

(B) Intangible Asset

[#438] When a goodwill account is raised at the time of admission of a new partner, credit is given to old partners in their:

(A) New profit sharing ratio

(B) Old profit sharing ratio

(C) Sacrificing ratio

(D) Capital ratio

Correct Answer

(C) Sacrificing ratio

[#439] A company issues 10% irredeemable preference shares. The face value per share is Rs. 100, but the issue price is Rs. 95. What is the cost of preference share?

(A) 10.63%

(B) 10.73%

(C) 10.83%

(D) 10.53%

Correct Answer

(D) 10.53%

[#440] A, B and C are partners in a firm without any agreement. They have contributed Rs. 7,50,000, Rs. 7,30,000 and Rs. 7,20,000 by way of capital in the firm. A was unable to work for six months in a year due to illness. At the end of the year, the firm earned a profit of Rs. 7,15,000. A's share in the profit will be

(A) Rs. 77,500

(B) Rs. 73,750

(C) Rs. 75,000

(D) Rs. 72,500

Correct Answer

(C) Rs. 75,000