- Matching principle
- Cost principle
- Entity principle
- Dollar currency principle
- b
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Which of the following options indicate how quickly accounts receivables are converted into cash?
- Days to collect accounts receivable
- Accounts receivable turnover
- Working capital turnover
- Total assets turnover
- b
Any expenditure incurred to increase the profit earning capacity of the concern is a Revenue expenditure.
- Deferred revenue expenditure
- Capital expenditure
- Both A & B
- None of these
- b
Economic resources of a business that are expected to be of benefit in the future are referred to as:
- Owner’s equity
- Assets
- Withdrawals
- Liabilities
- b
The process of recording the economic effects of business transactions in a book of:
- original entry is known as which of the following
- Journalizing
- Double entry system
- Debit
- b
Current ratio is:
- Profitability ratio
- Long term solvency ratio
- Short term solvency ratio
- Turnover ratio
- c
When shares are forfeited, the share capital account is debited with the:
- Nominal value of share
- Called up value of share
- Paid up value of share
- None of these
- b
Share may be issued:
- At premium
- At discount
- At par
- All of these
- d
Stock in trade is valued:
- At market price
- At cost or market whichever is less
- At cost price
- At cost less market price
- b
Partners in Pakistan can today be fixed at the following numbers.
- 20
- 40
- 60
- 70
- a
-
There may be minimum 02 and maximum 20 partners in a Partnership Business.
