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Q. On liquidation of company, principal amount of debentures is returned :

Q. The amount set aside to meet the loss of bad debt is

Q. Any income or profit derived by carrying on the business or during the course of business is called-

Q. Reserve Capital is also known by :

Q. The business will continue to operate for an indefinitely long period in the future, unless there is a good evidence to the contrary this assumption is related to

Q. The profits of the last three years is55000,50000,45000. Value of goodwill of 2 years purchase of average profit is Sol:

Q. Issue of shares at a price lower than its face value is called :

Q. ABC Ltd. makes payments to its Sundry Creditors through cheques and the Cash Discount received on these payments is recorded in the Triple-columnar Cash Book. In the event of dishonour of any such cheques, the discount so received should be written back through (i) A debit to discount column of the Cash Book (ii) A credit to discount column of the Cash Book (iii) A credit to bank column of the Cash Book (iv) A debit to Discount Account through Journal Proper (v) A credit to Creditor‘s Account through Journal Proper

Q. The Income and Expenditure Account is always accompanied with a cash flow statement Sol:

Q. Interest Account will have-