Principles of Accounts 2014 | Study Mode

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Question 31
A
carriage inwards
B
returns outwards
C
discount recieved
D
carriage outwards
Explanation

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Correct option: A
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Question 32
A
#130,000
B
#125,000
C
#80,000
D
#75,000
Explanation

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Correct option: D
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Question 33
A
#600,000
B
#620,000
C
#640,000
D
#700,000
Explanation

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Correct option: B
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Question 34
A
#150,000
B
#160,000
C
#170,000
D
#180,000
Explanation

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Correct option: D
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Question 35
A
an amount should be fixed as salary for partners
B
interest on partners loan should be 25%
C
interest should not be allowed on partners drawings
D
profits and losses should not be shared equally
Explanation

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Correct option: D
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Question 36
A
adjustment account
B
head office sales
C
head office goods account
D
head office current account
Explanation

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Correct option: C
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Question 37
A
realization account
B
savings account
C
share capital account
D
capital account
Explanation

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Correct option: A
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Question 38
A
revenue expenditure
B
capital expenditure
C
recurrent expenditure
D
concurrent expenditure
Explanation

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Correct option: B
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Question 39
A
subscription in advance
B
revenue reserves
C
capital reserves
D
calls-in-advance
Explanation

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Correct option: C
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Question 40
A
Articles of Association
B
Companies and Allied Matters Act
C
Memorandum of Association
D
Share capitak certificate
Explanation

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Correct option: C

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