Accounting - Study Mode

[#461] Manager is provided 10% commission on net profit after charging such commission. If profit before commission is Rs. 77,000, then what is due/payble commission?
Correct Answer

(A) Rs. 7,000

[#462] All the centers of profit for an airline company except one
Correct Answer

(C) Maintenance of the airplane

[#463] The balance of Forfeited share Account, after the reissue of forfeited shares, is transferred to:
Correct Answer

(C) Capital Reserve Account

[#464] Which of the following is not a cash inflow?
Correct Answer

(A) Decrease in creditors
(H) Purchase of fixed asset

[#465] Match the following. List-I List-II a. Partly paid preference share 1. Premiumon redemption of preference shares b. Capital redemption reserve 2. Current liabilities c. Security premium 3. Redemption out of free reserve d. Unclaimed dividend 4. Can not be redeem
Correct Answer

(C) a-4, b-3, c-1, d-2