ASSIGNMENT
ASSIGNMENT
ASSIGNMENT
QUESTION BANK
MCQ’S
9. Which comes first among the following in the order of payment by liquidator?
12. The capital reduction scheme can be implemented after getting permission form
c) Amalgamation d) Absorption
d) paid up capital does not change but change but number of shares reduces
22. On acquisition of business, which of the following item is not taken over by the purchasing company
23. On Purchases of business, which of the following is taken over by the purchasing company
24. The accounting treatment with respect to acquisition of business will be by using.
a) when new set of books in opened b) when the same set of books in continued
27. If the interest is due on the purchases price, the account to be debited is
29. When the same set of books is continued amounts realized from the proceeds of assets taken over by partners will
be distributed in the ration of
30. Any profit or loss arising on account of realizing book debts and discharging creditors will be borne by
ANSWERS:
1) D 2) C 3) A 4) C 5) D 6) B 7) B 8) C 9) A 10) B
11) B 12) A 13) B 14) C 15) D 16) D 17) A 18) B 19) C 20) B
21) D 22) A 23) B 24) C 25) D 26) A 27) C 28) C 29) D 30) B