Question { Accenture, 7625 }

what is Goodwill? What kind of Asset for the company?

Answer

During mergers and aquisition,When the company pays amount higher than the book value to target company,the excess amount reported as goodwill.Entry will be,
Asset of the target co. A/c Dr
Goodwill a/c Dr
Cash a/c Cr

Question { Capital IQ, 9515 }

when company pass ordinary resolution

Answer

An item is a put before the members of company in the form of proposal if it is approved by majority it becomes a resolution.ordinary resolution should be 51% majority to pass the decision.

for special resolution morethan 75% Majority required for mergers n auisition.

Question { Wipro, 14477 }

Purchase a goods from venkat for cash,it should be credited to
Whom

Answer

Purchase a/c dr
   To cash a/ c
( being purchased goods for cash from venkat)