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Q. If the two companies have different accounting policies in respect of the same item, then they make necessary changes to adopt .............. accounting policies.

Q. Balance of forfeited share is …….

Q. Bonus issue is permitted only if all partly paid shares are made‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐

Q. Which of the following is true about financial statements? I)Financial statement gives a summary of accounts. II) Financial statements can be stated as recorded facts.

Q. Which of the following is not a statutory reserve?

Q. The ratio that highlight the end result of business activities are known as ________ ratios

Q. …….of profit is transferred to statutory reserves.

Q. Yield value depends on……………………….

Q. Net asset value method is based on the assumption that the company is ___________.

Q. A computer sometimes is also termed as 'electronic brain'