1107 of the above
Correct Answer:- Option-B
‘Question63:-Money at call and short notice in Banking companies are included under the Schedule
i. Schedule 4
li. Schedule 5
li, Schedule 6
iv. Schedule 7
A:Only ii
B:-Only i
ഷി
D:-Only iv
Correct Answer:- Option-D

‘Questioné4:-Liability for partly paid investments in Banking companies are included under the heading
iL Investments
ii, Other assets
ii, Contingent liabilities

A:Only i

B:-Only ii

೦-೦೧1/1 806 ॥|

D:-None of these

Correct Answer:- Option-B
Question65 Valuation Balance Sheet is prepared in
i. Joint Stock companies
ii. Partnership firm.
ii, Single entry system.
iv. Life Insurance Companies

A: Only iv

B:-Only ii

೦-೦೧)/॥

D:-Only i

Correct Answer:- Option-A

Question66:-From the following data. find out the value of each category of equity shares of Sharad Ltd. by the eaming method. The companies after tax profit is Rs. 6,000 and general
rate is 10% p.a. 500 (A) equity shares of Rs. 10 each, fully pai.

500 (B) equity shares of Rs. 10 each, Rs. 7 paid up.
500 (C) equity shares of Rs. 10 each, Rs. 6 paid up.
iA = 90, 8 = 30,6 - 4
॥.4 = 108 = 7.6 = 6

॥. ^ = 52.20, 8 = 36.54, ८

1.32
५०१४॥
B:-Only i

ഷി

1107 ग ५९ 20015.

Correct Answer:- Option-A

‘Question67:-When a pattnership firm is converted into a joint stock company, the expenses involved are borne by the
i. Partnership firm

ii Joint stock company

li, Government

iv. As agreed upon by the firm and the joint stock company
കഷി
8:-Only ‏لا‎
‎ceOnlyiv
‎De-Only ‏ا‎
‎Correct Answer:- Option-C

‘Question68:-In the case of sale of a partnership business to a joint stock company, consideration for business is paid
i. Wholly in the form of shares of the joint stock company
ii, Wholly in cash

ill, Partly in the form of shares and partly in the form of cash
iv. According to the agreement between the partnership firm and the joint stock company
AsOnly i
B:-Only ॥
only ii
D-Only iv
Correct Answer:- Option-D
Question69:-The primary objective of an audit is

i. Detection and prevention of errors
li, Detection and prevention of frauds

li, To examine the books of accounts and records so as to render an opinion on the truth and faimess of the financial statements prepared by the management
A:Only i

B:-Only i and ii