Tag: accounting equation and business transactions

Questions Related to accounting equation and business transactions

"For the financial year ended as on March 31, 20XX the figures extracted from the balance sheet of Xerox Limited as under: Opening Stock Rs 29, 000; Purchases Rs 2, 42, 000; Sales Rs 3, 20, 000; Gross Profit 25% of Sales. Stock Turnover Ratio will be".

book keeping and accountancy accounting equation and business transactions meaning and features of balance sheet income-expenditure account meaning, importance and specimen of journal objectives, functions, and importance of accounting stages and functions of accounting qualitative characteristics, objectives and roles of accounting

  1. 8 times

  2. 6 times

  3. 9 times

  4. 10 times

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Correct Option: A

The liability of the shareholders of a public limited company is limited to the extent of ________________.

book keeping and accountancy accounting equation and business transactions meaning and features of balance sheet income-expenditure account meaning, importance and specimen of journal objectives, functions, and importance of accounting stages and functions of accounting qualitative characteristics, objectives and roles of accounting

  1. Par value of the share

  2. Paid up value of the shares

  3. Market price of the shares

  4. Intrinsic value of the shares

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Correct Option: B

Left side of balance sheet states the ______________.

book keeping and accountancy accounting equation and business transactions meaning and features of balance sheet income-expenditure account meaning, importance and specimen of journal objectives, functions, and importance of accounting stages and functions of accounting qualitative characteristics, objectives and roles of accounting

  1. appreciated earnings

  2. liabilities

  3. assets

  4. stocks earnings

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Correct Option: B