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Q. When the Vendor (seller) company agrees to bear liquidation expenses, it will debit

Q. Salaries due to clerk is preferential for a period not exceeding:

Q. Which of the following reserves cannot be distributed as dividend to share holders?

Q. Fictitious Assets shown on the Asset side of the ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐

Q. Any excess amount paid to preference share holders is debited to ------ --- account

Q. Companies have a statutory obligation to prepare final accounts required by ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ of the companies Act 1956.

Q. Those preference shares which do not carry the right of share in excess profits are known as ------- preference shares.

Q. Preference shareholders are legally entitled to the repayment of capital in the event of liquidation of the company.

Q. The most important income of a bank is

Q. Amount due to workman is rank with ……………….in the event of liquidation of the company.