Assets contributed by partner are recorded as:
Assets contributed by partner are recorded as:
Face Value | |
Agreed value | |
None of these | |
Book value |
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Partners in a partnership, collectively known as:
Partners in a partnership, collectively known as:
Agents | |
Partners | |
Firm | |
Share holders |
The maximum number of partners in an ordinary partnership bu
The maximum number of partners in an ordinary partnership business is:
50 | |
20 | |
40 | |
10 |
Partnership formed under the Act of:
Partnership formed under the Act of:
1984 | |
1962 | |
1932 | |
1912 |
The relation between persons who have agreed to share the pr
The relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all is called:
joint stock company | |
individual | |
sole proprietorship | |
partnership |
Original cost of asset Rs.4500; scrap value Rs.3000, useful
Original cost of asset Rs.4500; scrap value Rs.3000, useful life of asset 7 years, then the annual value of depreciation will be:
Rs.6500 | |
Rs.7000 | |
Rs.6000 | |
Rs.8000 |
Which one of the following assets is tangible Asset?
Which one of the following assets is tangible Asset?
Copy rights | |
None of these | |
Trade Mark | |
Equipment |
Specific reserve is created for:
Specific reserve is created for:
Unknown Purpose | |
General purpose | |
None of these | |
Specific Purpose |
Business goodwill is:
Business goodwill is:
Intangible asset | |
Current asset | |
fixed assets | |
Tangible Asset |
The natural resources are also called:
The natural resources are also called:
Plant assets | |
None of these | |
Intangible Assets | |
Wasting assets |
Which one of the following asset is to be appreciated in val
Which one of the following asset is to be appreciated in value?
land | |
building | |
furniture | |
machinery |
The change in shape of an asset due to friction, movement et
The change in shape of an asset due to friction, movement etc. is known as:
accident | |
external cause | |
obsolescence | |
wear and tear |
The decrease in the value of mines, quarries etc. is termed
The decrease in the value of mines, quarries etc. is termed as:
depletion | |
depreciation | |
construction | |
amortization |
The period during which the asset will help in earning incom
The period during which the asset will help in earning income of business is known as:
expired life | |
exhausted life | |
working life | |
consumed life |
The value of an asset at the end of working life is called:
The value of an asset at the end of working life is called:
original cost | |
market value | |
book value | |
scrap value |
We should deduct the amount of depreciation from:
We should deduct the amount of depreciation from:
liability | |
capital | |
fixed assets | |
cash |
Depreciation occurs:
Depreciation occurs:
till the last day of the estimated working life of asset | |
up to one year | |
up to two years | |
up to the replacement of old against |
The need for provision of depreciation is necessary to:
The need for provision of depreciation is necessary to:
replacement of assets | |
ascertainment of true cost of production | |
ascertainment of true profit or loss | |
all of these |
External cause of depreciation:
External cause of depreciation:
efflux of time | |
obsolescence | |
all of these | |
accident |
Internal cause of depreciation:
Internal cause of depreciation:
‘a’ and ‘b’ | |
wear and tear | |
depletion | |
obsolescence |