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73.

Under method of valuation of shares, from the market value of assets the amount of external
liabilities and preference share capital is deducted and the result is divided by the number of
equity shares.

(4) 84 (8) Super profit
(C) Intrinsic value (D) Net asset value

An extra commission paid by the consignor to the consignee for guaranteeing credit sales is called
(A) Error of Commission (8) Del credere commission
(C) Overriding commission (D) Manager's commission

The sequence of accounting procedures repeated each accounting year to record and summarise
business transactions is called

(4) Business Cycle (8) Accounting Cycle
(C) Trade Cycle (D) Receivable Cycle

Assets exhausted in the process of earning revenue are called
(2) Fictitious (8) Intangible
(C) Contingent (D) Wasting

The customs and traditions followed by the accountants for the preparation of the financial
statements :

(^^) Accounting conventions (8) Accounting concepts
(C) Accounting standards (D) Accounting principles

A situation when a firm gets a profit lower than the average profit of the industry is called :

(4) Undercapitalisation (8) Overcapitalisation
(C) Optimum capital structure (D) Optimum capitalisation
The trial balance is prepared either by or by method.
(^^) Balance, total (8) Profit, average
(C) Total, profit (D) Average, balance method
A debit note is prepared by the of goods when he returns some of the goods purchased.
(ക) லை (B) ம்மா
(C) Seller (D) Purchaser
11 075/2018

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