A:-Debited to P and L account only
B:-Deducted from the asset concemed in the Balance Sheet
C:-Both A} and B}
D:-None of these
Correct Answer:- Option-A
Question29:-Heavy advertisement expenses incurred to launch a new product is treated as
A:-Capital expenditure
B:-Revenue expenditure
C:-Deferred revenue expenditure
D:-All of these
Correct Answer:- Option-C
Question30:-Which of the following statements is a false one 7
A:-Single entry method is an incomplete record of transactions
B:-A trial balance cannot be prepared under single entry system
C:-Books maintained under single entry are not reliable with that of double entry system
D:-All accounts are maintained under single entry system
Correct Answer:- Option-D
Question31:-A B C share profits and losses in the ratio of *(1)/(2)" ,*(1)/(3)" and "(1}/(6)" respectively. D, a new partner is
admitted with *(1)/(8)" share. Then, what will be new profit sharing ratio 7
சற றலை றக்‌, யு
றலை க, கே, ' யக!
அல ற, மே, யங்‌
பவல்‌, பு, மே, “யு
Correct Answer:- Option-A
Question32:-At the time of admission of a new partner, when gooduwill is raised at full value in which ration the same is
credited to capital accounts of partners 7
A:-Sacrificing ratio
B:-Old profit sharing ratio
C:-New profit sharing ratio
D:-None of these
Correct Answer:- Option-B
Question33:-When an existing company takes over the business of one or more existing companies, it is the case of
A:-Amalgamation
B:-Internal reconstruction
C:-Extemal reconstruction
D:-Absorption
Correct Answer:- Option-D
Question34:-A company may utilise the premium received on issue of shares/debentures for
A:-Payment of dividends
B:-Writing off discount on issue of debentures
C:-Writing off any capital loss
D:-Writing off any revenue loss
Correct Answer:- Option-B
Question35:-The aggregate of the cost of indirect material, indirect labour and indirect expenses is called
A:-Overheads
B:-Cost
C:-Prime cost
D:-Works cost
Correct Answer:- Option-A
Question36:-Among the following, which one is not an expense excluded from cost accounts 7
A:-Capital losses
B:-Income tax
C:-Dividend
D:-Distribution expenses
Correct Answer:- Option-D
Question37:-The time lag between indenting and receiving of materials is know as
A:-Re order level
B:-Danger level
C:-Lead time