1. Match the following.
a. The formula for calculating the profit on reissue is . . . . . . . .
1. Article of Association
b. Right shares must be first offerred to existing . . . . . . . .
2. Security premium
c. Premium received on issue of debenture is credited to . . . . . . . . account
3. Amount forfeited less discount on reissue
d. Redeemable preference shares can be issued only when it is authorised by its . . . . . . . .
4. Equity shareholders
|a. The formula for calculating the profit on reissue is . . . . . . . .||1. Article of Association|
|b. Right shares must be first offerred to existing . . . . . . . .||2. Security premium|
|c. Premium received on issue of debenture is credited to . . . . . . . . account||3. Amount forfeited less discount on reissue|
|d. Redeemable preference shares can be issued only when it is authorised by its . . . . . . . .||4. Equity shareholders|
2. Accounting principles are based on
3. Four milkmen, A, B, C and D rented a pasture. A grazed 24 cows for 3 months; B grazed 10 cows for 5 months; C grazed 35 cows for 4 months; D grazed 21 cows for 3 months. If A's share of rent is Rs. 720, find the total rent of the field
4. Average profit of a firm is Rs. 40,000, Its total assets amounted to Rs. 4,00,000 and its liabilities to Rs. 1,00,000. If return is similar of same firm is 10% on capital employed, what will be the value of goodwill of this firm:
5. When working capital is Rs. 60,000 and current ratio is 3 : 1 the current liabilities will be:
6. Capital is equal to:
7. Credit sales of business assets are recorded in
8. Identify, which of the following partnership's characteristic is a disadvantage?
9. Goodwill is shown on
10. In the absence of any provision in the partnership agreement, partners are paid interest on partners loan @
Read More Section(Accounting)
Each Section contains maximum 100 MCQs question on Accounting. To get more questions visit other sections.
- Accounting - Section 1
- Accounting - Section 2
- Accounting - Section 3
- Accounting - Section 4
- Accounting - Section 5
- Accounting - Section 6
- Accounting - Section 7
- Accounting - Section 8
- Accounting - Section 9
- Accounting - Section 10
- Accounting - Section 11
- Accounting - Section 12
- Accounting - Section 13
- Accounting - Section 14
- Accounting - Section 15
- Accounting - Section 16
- Accounting - Section 18
- Accounting - Section 19
- Accounting - Section 20
- Accounting - Section 21
- Accounting - Section 22
- Accounting - Section 23
- Accounting - Section 24
- Accounting - Section 25