Question : ______________is transferred of the Capital Reserve.

Option 1: Profit from sale of fixed assets

Option 2: Premium on issue of shares

Option 3: Profit on forfeiture of shares

Option 4: All of the above

Question : Which should be considered as capital receipt of a club :-

Option 1: Donation 

Option 2: Sale of Newspaers 

Option 3: Sale of Bar items 

Option 4: Sale of Furniture 

Question : ----------------- is a fund earmarked for investment in fixed assets or already invested in fixed assets. An example of a Fixed Assets Fund is a Building Fund & Amount invested in fixed assets during the year is transferred to a Capital Fund.

Option 1: Capital fund

Option 2: Fixed assets fund

Option 3: Endowment Fund

Option 4: None  of the above

Question : ----------------- is a fund earmarked for investment in fixed assets or already invested in fixed assets. An example of a Fixed Assets Fund is a Building Fund & Amount invested in fixed assets during the year is transferred to a Capital Fund.

Option 1: Capital fund

Option 2: Fixed assets fund

Option 3: Endowment Fund

Option 4: None  of the above

Question : Which of the following statement is incorrect?

Option 1: Loss on sale of fixed assets is added back and profit on sale of fixed assets is deducted from net profit while arriving at the cash flow from operating activities

Option 2: Depreciation is added back to net profit while calculating cash flows from operating activities

Option 3: Depreciation increase the value of net profit without reducing the cash balance as it is a non- cash item

Option 4: None of the above