If a minor choose to become a partner on attaining the age of majority will be liable for the debts of the firm from the date of his
A. Attaining majority
B. Choice to become partner of the firm
C. Admission to the benefit of partnership
D. None
Answer: Option C
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Hindrances of time are removed by which aids to trade?
A. Insurance
B. Banking
C. Warehousing
D. Packaging
Credit balance of a ledger account is denoted by
A. Excess of credit side over debit side
B. Excess of debit side over credit side
C. Equally of debit and credit
D. Any of the above
What do you mean by a mixed economy?
A. Modem and traditional industries
B. Public and private sectors
C. Foreign and domestic investments
D. Commercial and subsistence farming
Cash book is a subsidary as well as a
A. Memorandum book
B. Secondary book
C. Principal book
D. None of these
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