- Limited Partnership
- General Partnership
- Sole Proprietorship
- Corporation
- c
-
In our routine life, Everyone is running a shop / business is called Sole Proprietorship.
OR
Sole Proprietorship is a simple form of business that have not documental registered entity.
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The ability of a firm to convert an asset to cash is called:
- Solvency
- Liquidity
- Return
- None of these
- b
Public Company should start business only after getting certificate of:
- Corporation
- After One Year
- ISO
- Commencement of Business
- d
Every business transaction affects at least ….accounts.
- Two
- Three
- Four
- Five
- a
General Journal is a book of ……entry.
- Original
- Final
- Generic
- First
- a
-
In general Journal, The accountant notes all transaction on daily basis.
The system of recording transactions base on duel aspect concept is called:
- Double Accounting System
- Double Entry System
- Single Entry System
- None of the above
- b
-
Double Entry System is a such accounting system in which Debit and Credit sides must be maintained according to transaction.
Share premium money can be used for:
- Issue of fully paid bonus shares
- Write of Goodwill
- Payment of Dividends
- None of these
- a
-
Share Premium is also called Security Premium.
Both debentures and term finance certificate are usually issued by:
- Private Companies
- Public Companies
- Listed Companies
- None of these
- b
If motor van cost is 12500, its accumulated depreciation is 4200, depreciation charged for the year is 2500, What will be the book value at the end of the period?
- 8300
- 5800
- 10000
- None of these
- b
Excess of Sales over cost goods in accounting period is termed as:
- Current Assets
- Net profit
- Gross profit
- Retained earning
- c
-
Gross Profit = Sales + Cost of Goods Sold