Accountancy : Company Accounts and Analysis of Financial Statements 2009 CBSE [ Delhi ] Set I
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Q1
When the Receipts and Payments Account is converted into an Income and Expenditure Account, an accounting concept is to be followed for the provisions of the Accruals and Outstanding. Name the concept that is followed.
Marks:1View AnswerAnswer:
Accrual concept.
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Q2
Can a partner be exempted from sharing the losses in a firm? If yes, under what circumstances?
Marks:1View AnswerAnswer:
When a partner is minor he is exempted from sharing losses.
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Q3
How is interest on drawings calculated, if the drawings are made at regular intervals, as on the first day of each month?
Marks:1View AnswerAnswer:
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Q4
Why would an investor prefer to invest in the Debentures of Company rather than in its Shares?
Marks:1View AnswerAnswer:
To ensure regular return on investments.
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Q5
Why should a firm have a partnership deed?
Marks:1View AnswerAnswer:
If a firm has a partnership deed it can be readily referred to in case of disputes.
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Q6
State why non-cash transactions are ignored while preparing a Cash Flow Statement?
Marks:1View AnswerAnswer:
Non-cash transaction does not effect the Cash flow statement.
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Q7
When is Dividend received considered as operating activity?
Marks:1View AnswerAnswer:
Dividend received is considered as operating activity in case of financial company.
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Q8
What will be the operating profit ratio, if operating ratio is 83.64%?
Marks:1View AnswerAnswer:
Operating profit ratio = 100% - 83.64% = 16.36%
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Q9
What is Coding?
Marks:1View AnswerAnswer:
The process of writing computer software code.
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Q10
What is a super group?
Marks:1View AnswerAnswer:
Super groups are those groups which keep all items together for easier sorting.
