Please select a subject first
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Dissolution expenses are credited to ______.
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Assets and liabilities are transferred to Realisation Account at their ______ value.
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In case of dissolution assets and liabilities are transferred to ______ A/c.
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Complete the following sentence.
"The ratio in which the old partners agree to sacrifice their share of profit in favour of the incoming partner is ______"
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Complete the following sentence.
______ is also one of the special aspects of partnership accounts which requires adjustment (also valuation if not specified) at the time of reconstitution of a firm).
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Rohit and Mohit are partners in firm sharing profits in the ratio of 5:3. They admit Bijoy as a new partner for 1/7 share in the profit. The new profit sharing ratio will be 4:2:1. Calculate the sacrificing ratio of Rohit and Mohit.
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Complete the following sentence.
"The ratio in which the continuing partners have acquired the share from the retiring/deceased partner is called ______"
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Mahi, Neha and Tina are partners sharing profits in the ratio of 5:3:2. Calculate gaining ratio of Mahi if she retires ______
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Which of the following points explain the nature of financial statements?
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The object of a partnership firm is ______
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What are the objectives of financial statements? They provides ______.
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Financial statements includes which types of statements are required for external reporting and also for internal needs of the management?
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Financial statements are the ______ of information for interested parties.
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Consider the following statements.
Statement 1 - "Financial statements are the end products of accounting process"
Statement 2 - "Financial statements are not the end products of accounting process"
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For income measurement ______ basis of accounting is followed.
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The statement which shows the assets and liabilities of a company is known as ______.
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Profit and loss account is also called ______ statement.
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Consider the following statements.
Statement 1 - "Financial statements are primarily directed towards the needs of owners"
Statement 2 - "Financial statements are primarily not directed towards the needs of owners"
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Consider the following statements.
Statement 1 - "Facts and figures presented in financial statements are based on personal judgements"
Statement 2 - "Facts and figures presented in financial statements are not at all based on personal judgements"
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Consider the following statements.
Statement 1 - "Recorded facts are based on replacement cost"
Statement 2 - "Recorded facts are not based on replacement cost"
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