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5 questions
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- 1. Multiple Choice
Legacy is a ............ receipt.
Capital
Revenue
None of the Above
- 2. Multiple Choice
Subscription received in advance, is a ......
Asset
Liability
Neither asset nor Liability
- 3. Multiple Choice
Club is an example of...........
Business
Profession
Non-profit Activity
- 4. Multiple Choice
Name the account where transactions related to partner is entered , when Capital Account is fixed.
Current Account
Profit and Loss A/c
Profit and Loss Appropriation A/c
- 5. Multiple Choice
Interest in Drawing is charged @......., When drawings is made during the year.
6%
6.5%
5.5%
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