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1. RPC Ltd. follows the written down value method of depreciating machinery year after year due to (a) Comparability. (b) Convenience. (c) Consistency. (d) All of the above.
1 2891While finalizing the current year’s profit, the company realized that there was an error in the valuation of closing stock of the previous year. In the previous year, closing stock was valued more by Rs.50,000. As a result (a) Previous year’s profit is overstated and current year’s profit is also overstated (b) Previous year’s profit is understated and current year’s profit is overstated (c) Previous year’s profit is understated and current year’s profit is also understated (d) Previous year’s profit is overstated and current year’s profit is understated
2284In the absence of any provision in the partnership agreement, profits and losses are shared (a) In the ratio of capitals. (b) Equally. (c) In the ratio of loans given by them to the partnership firm. (d) None of the above.
2430Fundamental accounting assumptions are (a) Materiality. (b) Business entity. (c) Going concern. (d) Dual aspect
1873Which of the following errors are not revealed by the Trial Balance: (a) compensating errors; (b) errors of commission; (c) wrong balancing of an account; (d) wrong totalling of an account
2574Which of the following are of capital nature? (a) Purchase of a goods (b) Cost of repair (c) Wages paid for installation of machinery (d) Rent of a factory
2 7977Which of the following statement is not true: (a) If del-creder’s commission is allowed, bad debt will not be recorded in the books of consignor (b) If del-creder’s commission is allowed, bad debt will be debited in consignment account (c) Del-creder’s commission is allowed by consignor to consignee (d) Del-creder’s commission is generally relevant for credit sales
2 5181Discount on issue of debentures is a __________ (a) Revenue loss to be charged in the year of issue (b) Capital loss to be written off from capital reserve (c) Capital loss to be written off over the tenure of the debentures (d) Capital loss to be shown as goodwill
3 9025Loss on issue of debentures is treated as ____________. (a) Intangible asset (b) Current asset (c) Current liability (d) Miscellaneous expenditure
CPT,
2 14608We had billed to a Customer Rs. 50000/- he paid 45000 to us n not paying balance 5000/- how and where to enter Rs. 5000/- Is it bad debt...
1 3850Dividends are usually paid as a percentage of ______ (a) Authorized share capital (b) Net profit (c) Paid-up capital (d) Called-up capital
3 18577Post New Accounting General Questions
What are the probable interviwe questions in SBI clerical interview ? I am having my interview on 30th april.
When a merchant sales of goods included/charged on packaging charges ,cartages and insurance;i.E :-Indirect income/revenue income and indirect expense/revenue expenditure. Plz suggeste me correct answer.Through messages,mail .
Tell me what is an over accrual?
Differentiate between provision and reserve?
What is general ledger account?
Under the accrual basis of accounting, when revenues are reported in the accounting period?
if co. (proprietorship). purchase mobile phone for employees than mobile phones under off. equipment .we have rec. purchase bill gst applicable how shows entry
what is the Differed Tax Liability & How it is calculate ?
After close Balance Sheet, we find a expense which was wrongly debited in Profit and Loss A/c. How we adjust next accounting period?
If balancing account is not assigned to company & is assigned to department wat will be the effects
What is an over accrual?
what is the new rate of c.s.t in uttraklhand
how to caluclate tds from emloyees and others
sir i am working in construction company.we have more than one projects.i enter the attendance projectwise in payroll.if payroll autofill i want project wise salaries not overall
What does the investment of personal assets by the owner will do?
