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4

A part of the profit distributed to the shareholders is known as

A. Reserve & Surplus

B. Retained Earnings

C. Dividend

D. Net Profit

Correct Answer :

C. Dividend


Related Questions

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4

Expenditure, which result in acquisition of permanent assets, is a capital expenditure.

A. True

B. False

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4

All events are transactions but all transactions are not events.

A. True

B. False

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4

An expense incurred to keep the machine in working condition is a capital expenditure.

A. True

B. False

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4

The account which can never have a credit balance is

A. Bank

B. Cash

C. Debtor

D. Creditor

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4

Transfer to General Reserve is a charge against

A. Trading Account

B. Profit and Loss Account

C. Profit and Loss Appropriation Account

D. Balance Sheet

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4

Copyright is an example of

A. Real Account

B. Asset

C. Intangible Asset

D. All of the above

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4

Capital of the business is an example of external liability.

A. True

B. False

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4

Fixed Assets are stated in the balance sheet at their market value.

A. True

B. False

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4

WIP stands for

A. Working Progress

B. What-in-Progress

C. Work-in-Progress

D. Works-in-Progress

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4

A part of the profit distributed to the shareholders is known as

A. Reserve & Surplus

B. Retained Earnings

C. Dividend

D. Net Profit

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4

E. & O.E.

A. Errors & Omissions Expected

B. Error & Omission Expected

C. Errors & Omissions Entered

D. Errors & Omissions Excepted

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4

An expenditure intended to benefit the current period is revenue expenditure.

A. True

B. False

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4

If the totals of debit and credit columns of a Trial Balance are equal, it implies correctness of books of accounts.

A. True

B. False

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4

According to the Concept of Conservatism, an accountant should

A. Recognize all losses and anticipate no gains

B. Recognize all gains and anticipate no losses

C. Recognize and anticipate both gains and losses

D. Both (b) and (c)

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4

Wages and Salaries is a charge against

A. Trading Account

B. Profit and Loss Account

C. Profit and Loss Appropriation Account

D. Balance Sheet

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4

All indirect expenses are charged against

A. Trading Account

B. Profit and Loss Account

C. Manufacturing Account

D. None of the above

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4

The life span of a company is dependent on the life span of the

A. Owner(s) of the company

B. Promoter of the company

C. Managing Director of the company

D. None of the above

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4

Depreciation cannot be provided in case of loss, in a financial year.

A. True

B. False

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4

In Double Entry System of Book Keeping, the total of Debit balances may not be equal to the total of Credit balances, in certain situations, even if transactions are recorded correctly.

A. True

B. False

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4

The aggregate of direct material, direct labour and direct expenses is known as

A. Product Cost

B. Manufacturing Cost

C. Prime Cost

D. Production Cost

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4

The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and useful life is 10 years. The depreciation amount under Straight Line Method is

A. Rs.57,000

B. Rs.59,500

C. Rs.54,500

D. Rs.50,000

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4

Cash is an example of

A. Personal Account

B. Real Account

C. Nominal Account

D. Both (a) and (b)

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4

HUF stands for

A. Hindu United Family

B. HIndi Undivided Family

C. Hindu Undivided Family

D. Hindu Uniform Family

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4

The balance in the Cash Book represents net income.

A. True

B. False

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4

Cash payments are recorded on the _______________ of the Cash Book.

A. Debit side

B. Credit side

C. Both sides

D. Any one side

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4

Capital + Long-term liabilities = Fixed Assets + Current Assets + Cash - Current Liabilities.

A. True

B. False

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4

Depreciation is not charged on _______________.

A. New assets

B. Land

C. Building

D. None of the above

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4

Choose the odd one out

A. Wages

B. Stationery

C. Sales

D. Furniture

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4

The first step of accountancy is

A. Journal Entry

B. Ledger Posting

C. Balancing of Accounts

D. Trial Balance

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4

Which of the following events is not a transaction?

A. Mr. Employer paid salary of Rs.9,000 to Mr. Employee.

B. Rahul sold his bicycle to Rohan for Rs.600.

C. Abhijeet gifted a book, priced at Rs.800, to Amit.

D. None of the above.