Multiple Choice
If the rate of G.P on sale is 20% and cost of goods, sold is Rs. 100,000, then amount of G.P will be equal to:
A) Rs. 20,000
B) Rs.25,000
C) Rs.35,000
D) Rs.15,000
Correct Answer:
Verified
Correct Answer:
Verified
Q14: In single entry system profit is calculated
Q15: A Single entry system is usually adopted
Q16: Company has ……………<br>A)Separate Legal Entity<br>B)Perpetual Existence<br>C)Limited Liability<br>D)All
Q17: Capital can be obtained by preparing:<br>A)Cash book<br>B)Statement
Q18: A Statement of assets and liabilities prepared
Q19: Bad -debts written off always affect the:<br>A)Debtors
Q21: Shareholders are :<br>A)Customers of the Company<br>B)Owners of
Q22: Credit Purchase can be calculated by preparing:<br>A)Cash
Q23: A Company is created by :<br>A)Special act
Q24: The shares on which there is no