Credit purchase is obtained from _______

(a)

Bills receivable account

(b)

Bills payable account

(c)

Total debtors account

(d)

Total creditors account

Income and Expenditure accounts show

(a)

cash available to an organization

(b)

dosing capital of an organization

(c)

cash available in the bank account

(d)

surplus or deficit for the current accounting period.

Amount invested by partners in the partnership business is called __________

(a)

Owner's capital

(b)

Partner's capital

(c)

Profit and loss appropriation

(d)

None of these

Self- generated goodwill should not be shown in the ______________

(a)

journal

(b)

ledger

(c)

balance sheet

(d)

books of accounts

The revaluation profit or loss is transferred to the old partner's capital accounts, in their __________

(a)

Old ratio

(b)

New ratio

(c)

Sacrifice ratio

(d)

Gain ratio

At the time of retirement of a partner, calculation of new profit ratio is __________

(a)

Compulsory

(b)

Optional

(c)

Necessary

(d)

Not necessary

Paid up capital is that part of called up capital which has been actually paid by the ____________

(a)

shareholders

(b)

members

(c)

cardholders

(d)

directors

Which of the following are techniques, tools or methods of analysis and interpretation of financial statements?

(a)

Ratio analysis

(b)

Average analysis

(c)

Trend analysis

(d)

An of the above

Match List I with List II and Select the Correct Answer using the Codes given below.

List I		List II
(i)	Profitability ratio	1.	Debtors turnover ratio
(ii)	Liquidity ratio	2.	Debt -Equity ratio
(iii)	Solvency ratio	3.	Operating profit ratio
(iv)	Activity ratio	4.	Current ratio

(a)

(i)	(ii)	(iii)	(iv)
4	3	1	2

(b)

(i)	(ii)	(iii)	(iv)
3	4	2	1

(c)

(i)	(ii)	(iii)	(iv)
3	4	1	2

(d)

(i)	(ii)	(iii)	(iv)
2	3	4	1

Debt Equity Ratio is 3:1, the amount of total assets Rs.20 lacks, current ratio is 1.5:1 and owned funds Rs.3 lacks. What is the amount of current asset?

(a)

Rs.5 lacks

(b)

Rs.3 lacks

(c)

Rs.12 lacks

(d)

Rs.2 lacks