Question : Which year marked the third general election in India?  

Option 1: 1952  

Option 2: 1957  

Option 3: 1962  

Option 4:  1967  

Question : Arrange the following in the correct order:

(A) Subscribed Capital

(B) Issued Capital

(C) Authorised Capital

(D) Paid-up Capital

(E) Called-up Capital

Choose the correct answer from the options given below:

Option 1: (C), (B), (A), (D), (E)

Option 2: (B), (C), (A), (D), (E)

Option 3: (C), (B), (A), (E), (D)

Option 4: (B), (C), (A), (E), (D)

Question : The journal entry for treatment of goodwill, when a new partner brings his share of goodwill in cash and one of the old partners gains, involves the following :

(A) Gaining Partner's Capital Account is debited

(B) Premium for Goodwill Account is debited

(C) Sacrificing Partner's Capital Account is credited

(D) Gaining Partner's Capital Account is credited

Choose the correct answer from the options given below:

Option 1: (A), (B) and (D) only

Option 2: (A), (B) and (C) only

Option 3: (A), (B), (C) and (D)

Option 4:  (B), (C) and (D) only

Question : On dissolution of a firm, bank overdraft is transferred to :

Option 1: Bank Account

Option 2: Realisation Account

Option 3: Partners’ Capital Account

Option 4: Partners' Loan Account

Question : Window dressing is a practice

Option 1: to manipulate the accounts to show a better picture of the financial position than the actual one.

Option 2: to show excesive depreciaton.

Option 3:  to avoid tax.

Option 4: to reduce tax.