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Q. The comparison of financial statement of one year with that of another is possible only when _______ concept is followed

Q. Outstanding salary account is a

Q. While putting the value or price of an entity in financial records the lowest price is recorded not the current price or current market value. This is known as

Q. Capital A/c is a _______ A/c.

Q. Partnership is formed by the partners by:

Q. For finding the amount of sundry expenses paid by the branch, the following a/c should be prepared.

Q. In case of retirement of a partner full good will is credited to the accounts of:

Q. If all the partners, but one, are solvent it is:

Q. The difference between goods sent by H.O. and received by branch is known as _______

Q. Goods are sent to branch at cost plus 20%. If closing stock of the branch is Rs 60,000 at invoice price, Rs ______ will be credited to stock reserve a/c.