If vendors are issued fully paid shares of Rs. 12,000 in consideration of net assets of Rs. 9,000, then the balance of Rs. 3,000 will be
A. credited to Securities Premium A/c
B. credited to Capital Reserve A/c
C. debited to Goodwill A/c
D. debited to Profit and Loss A/c
Answer: Option C
This Question Belongs to Commerce >> Accounting
Accounting provides information on
A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Patents, Copyrights and Trademarks are
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
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