Академический Документы
Профессиональный Документы
Культура Документы
(a) Land
(b) Live stock
(c) Building
(d) Forest and Plantation
2. Net worth is excess of
(a) Fixed Assets over Current Liabilities
(b) Total Assets over Total Liabilities
(c) Fixed Assets over Current Assets
(d) Long Term Loan over Short Term Loan
3. On 31st December 2011, a club had subscription in arrears of Rs. 16,000 and in advance Rs.
4,000 respectively. During the year ended 31.12.2012, the club received subscription of Rs.
2,08,000 which includes Rs. 10,400 relating to 2013. What amount of subscription will be
recognized as income for the year 2012?
(a) 2,12,000
(b) 1,96,000
(c) 1,81,600
(d) 1,85,600
4. Pre-paid expenses will not be reflected in
(a) Profit & Loss Account
(b) Cash Book
(c) Balance Sheet
(d) Cash Flow Statement
5. Which one of the following balance will not be carried to the next accounting period?
(a) Rent paid in advance
(b) Salary outstanding
(c) Closing cash balance
(d) Consultancy fees paid
6. A bill for Rs. 2,75,000 for building extension was treated as repair of building, which
rectification entry is correct?
Debit Credit
(a) Building A/c Cash A/c
(b) Building Repair A/c Cash A/c
(c) Building A/c Repair A/c
(d) Profit & Loss A/c Building Repair A/c
14. Sales Rs. 18,00,000; Purchases Rs. 11,90,000 and Opening stock Rs. 3,30,000. If the rate of