Question 1

When a part of the Fixed Assets is sold during the year, the Profit on sale is shown on the credit side of which Account?

Accepted Answer

A) Adjusted Profit and Loss Account 
B) Profit and Loss Account 
C) Fixed Assets Accounts 
D) Liabilities Accounts 
A) Adjusted Profit and Loss Account 
B) Profit and Loss Account 
C) Fixed Assets Accounts 
D) Liabilities Accounts

Question 2

Among the following items which item is shown on the debit side of Adjusted Profit and Loss Account?

Accepted Answer

A) Depreciation and other Non-cash Adjustments 
B) Appropriation of Profit 
C) Provision for Taxation 
D) All of the Above 
A) Depreciation and other Non-cash Adjustments 
B) Appropriation of Profit 
C) Provision for Taxation 
D) All of the Above

Question 3

Which of the following statements is true?
1) If the amount of good will increases during current year, the difference is treated as purchase of goodwill.
2) If the amount of good will decreases during current year, It will treated as written off.

Accepted Answer

A) Only 1 
B) Only 2 
C) Both 1 and 2 
D) None of the above 
A) Only 1 
B) Only 2 
C) Both 1 and 2 
D) None of the above

Question 4

Credit Rating performs the function of credit risk evaluation reflecting the borrower's expected capability to repay the debt as per terms of issue.

Accepted Answer

A) True 
 B)False

When a part of the Fixed Assets is sold during the year, the Profit on sale is shown on the credit side of which Account?

Among the following items which item is shown on the debit side of Adjusted Profit and Loss Account?

Which of the following statements is true? 1) If the amount of good will increases during current year, the difference is treated as purchase of goodwill. 2) If the amount of good will decreases during current year, It will treated as written off.

Credit Rating performs the function of credit risk evaluation reflecting the borrower's expected capability to repay the debt as per terms of issue.

Capital Market and Money Market in India

Foreign Exchange and Capital Markets

Stock Market and Financial Instruments in India

Financial Management and Accounting

International Finance and Investment

Filters

Exam 2: Financial and Accounting

When a part of the Fixed Assets is sold during the year, the Profit on sale is shown on the credit side of which Account?

Among the following items which item is shown on the debit side of Adjusted Profit and Loss Account?

Which of the following statements is true? 1) If the amount of good will increases during current year, the difference is treated as purchase of goodwill. 2) If the amount of good will decreases during current year, It will treated as written off.

Credit Rating performs the function of credit risk evaluation reflecting the borrower's expected capability to repay the debt as per terms of issue.

Capital Market and Money Market in India

Foreign Exchange and Capital Markets

Stock Market and Financial Instruments in India

Financial Management and Accounting

International Finance and Investment

Filters