Home / MCQ Bank / Commerce

Commerce Accounting Difficulty: Medium

On 31 st December 2004, the assets and liabilities of a firm were Rs. 40,000 and Rs. 30,000 respectively. The firm was dissolved and a sum of 60 paisa per rupee was paid to the creditors. Profit/loss on realisation-

Select the correct option to test your answer:

More Commerce Questions

Total common equity Rs 996,000,000 and shares outstanding 50,000,000 then book value per share would be Consistency with reference to application of accounting principles refers to the fact that: Which of the following are the applications of funds? 1. Redemption of preference share capital 2. Payment of dividend 3. Increase in working capital Products adapted to the perceived unique characteristics of national markets: The auditor's report alongwith the annual accounts is given