| Home> Class-12> BOOK KEEPING AND ACCOUNTANCY >Q 48 |
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Que : 48. Choose the correct option: (i) Income and Expenditure Account reveals - (A) Gross Profit (B) Net Profit (C) Surplus or Deficiency (D) Cash Balance (ii) At the time of Forfeiture of shares the share capital account is debited with (A) Face Value (B) Called up amount (C) Paid up value (D) Issued value (iii) The essential element of Partnership is - (A) To share loss (B) To share loss and profit both (C) To share profits (D) To share the assets (iv) Cash Flow statement is related to - (A) Accounting Standard-3 (B) Accounting Standard-6 (C) Accounting Standard-9 (D) Accounting Standard-12 (v) The following is not a tool of analysis of Financial Statement. (A) Trial Balance (B) Comparative Statement (C) Ratio Analysis (D) Common Size Statement (vi) Goodwill is - (A) A Flooting Assets. (B) A Fixed Assets. (C) A Tangible Assets. (D) A Fictitious Assets. |
Answer: (i) (C) Surplus or Deficiency (ii) (C) Paid up value (iii) (C) To share profits (iv) (B) Accounting Standard-6 (v) (C) Ratio Analysis (vi)
(B) A Fixed Assets. |
