Match the following.
| List-I | List-II |
| a. Absorption | 1. Profit on reissue of shares is to be transferred to . . . . . . . . |
| b. Accumulated losses and fictitious assets | 2. When there are one or more liquidation and no formation, it is known as . . . . . . . . |
| c. Consolidated revenue profits | 3. Internal reconstruction is generally resorted to write off . . . . . . . . |
| d. Capital reserve | 4. The group share of proposed dividends by the subsidiary is added to . . . . . . . . |
A. a-4, b-3, c-2, d-1
B. a-3, b-4, c-2, d-1
C. a-2, b-3, c-4, d-1
D. a-3, b-4, c-1, d-2
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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