Question : Revaluation of assets to present value is a violation of which concept?

Option 1: Consistency

Option 2: Going concern

Option 3: Cost concept

Option 4: Matching concept

Question : Which of the following statements is correct in relation with revaluation account?

Option 1: Revaluation account is prepared to revise the value of assets 

Option 2: Revaluation account is prepared not to revise the value of assets 

Option 3: Revaluation account is prepared to old  the value of assets 

Option 4: All of the above 

Question : All assets of the firm except cash/bank are transferred to Realisation A/c at _________.

Option 1: Book value

Option 2: Market value

Option 3: Present value

Option 4: Future value

Question : Revaluation of  Assets  at the time of admission of a partner shows a gain in its revaluation process. It indicates that their present value is (i) .........from their (ii).......... 

Option 1: (i) Less (ii) Book value.

Option 2: (i) More  (ii) Book Value. 

Option 3: (i) Less (ii) Fixed Asset 

Option 4: (i) More (ii) Current Asset 

Question : In case of dissolution, assets are transferred to Realisation Account:

Option 1: At Book Value

Option 2: At Market Value

Option 3: Cost or Market Value, whichever is lower

Option 4: None of the Above

Question : The cost of 3 cups and 5 plates is INR 1,080 and the cost of 2 cups and 4 plates is INR 840. Find the ratio of the cost of a cup to the cost of a plate.

Option 1: 1 : 3

Option 2: 2 : 3

Option 3: 1 : 1

Option 4: 1 : 2