Calculate the amount of net income or loss if the capital has been increased by Rs. 1,000 during this accounting period drawings Rs. 5,000 and Rs. 1,000 fresh capital was introduced in the business _______

(a)

Rs. 5,000 net loss

(b)

Rs. 5,000 net profit

(c)

Rs. 6,000 net loss

(d)

Rs. 6,000 net profit

_______Items will be recorded in the balance sheet

(a)

Revenue

(b)

Capital

(c)

Expense

(d)

None of these

___________ is a document in writing that contains the terms of the agreement among the partners.

(a)

Partnership deed

(b)

Partnership at will

(c)

Both 'a' and 'b'

(d)

None of these

Average profit is 19,167 and normal profit is 10,000 the super profit is_________.

(a)

Rs. 9,167

(b)

Rs. 29,167

(c)

Rs. 9,167

(d)

Rs. 10,000

________ is computed at the time of admission of a new partner.

(a)

Gaining ratio

(b)

Capital ratio

(c)

Sacrificing ratio

(d)

New ratio

If the goodwill account is raised for 50,000, the amount is debited to ____________

(a)

The capital accounts of partners

(b)

Goodwill account

(c)

Cash account

(d)

Loan account

________ of partner will be paid off, before the settlement of partner’s capital.

(a)

Capital

(b)

Loan

(c)

Asset

(d)

None of these

The amount of one call should not be more than _____ of the face value of the share.

(a)

25%

(b)

50%

(c)

75%

(d)

100%

_______________ refers to the study of movement of figures over a period.

(a)

Comparative statement

(b)

Common -size statement

(c)

Trend analysis

(d)

Funds flow analysis.

_________________ are those assets which are easily convertible into cash.

(a)

Current assets

(b)

fictitious assets

(c)

Liquid assets

(d)

Fixed assets