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Accounts - Principles of Accounts Past Questions and Answers

Accounts - Principles of Accounts Questions

Question 2381:
Which of the following is not a purpose for which share premium may be utilized?
  • A Issuing fully oaid bonus share
  • B Writing off preliminary expenses
  • C Settling salesman commission
  • D Providing for redeemable preference shares
View Answer & Explanation
Question 2382:
A debenture is
  • A A loan capital raised by a company
  • B Money gives to a company as a gift
  • C Accuerd expenses
  • D Share capital
View Answer & Explanation
Question 2383:
The concept which deals with the exclusion of trivial items in the accounting records is
  • A Constitency
  • B Going concern
  • C Materiality
  • D Money measurement
View Answer & Explanation
Question 2384:
Which of the following is not an example of capital reserve?
  • A Share premium
  • B Retained profits
  • C Surplus on revaluation of assets
  • D Pre-incorporation profits
View Answer & Explanation
Question 2385:
Goods sent to branch are recorded in the head office's books at i. selling price ii. cost price plus makeup percentage iii. cost price
  • A I and ii
  • B I and iii
  • C Ii and iii
  • D I, ii and iii
View Answer & Explanation