Match the following.
| List-I | List-II |
| a. After reissue of forfeited shares the balance of share forfeiture account is transferred to . . . . . . . . | 1. Assets |
| b. Bonus issue is made out of . . . . . . . . | 2. Free reserve |
| c. Debentures secured by a charge on . . . . . . . . are termed as secured debentures. | 3. Accumulated profits |
| d. Workmen's compensation fund is . . . . . . . . to extent there is no compensation payable. | 4. Capital Reserve A/c |
A. a-4, b-3, c-2, d-1
B. a-4, b-3, c-1, d-2
C. a-2, b-1, c-4, d-3
D. a-2, b-4, c-1, d-3
Answer: Option B
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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