Combination can be best described as?

• A. Restructuring of capital of a company
• B. Reduction of capital of a company
• C. Amalgamation of two different type of businesses
• D. Joint venture

Sources of funds can be increased by?

• A. Describing selling prices
• B. Increasing expenditure
• C. By opting efficient process
• D. None of above

Books of original entry are called?

• A. Ledger
• B. Work sheets
• C. Journal
• D. None of these

For preparing balance sheets prepaid expenses are shown as part of?

• A. Liability
• B. Equalities
• C. Assets
• D. None of these

Unpaid and unrecorded expenses are called?

• A. Prepaid expense
• B. Accrued expense
• C. Additional expense
• D. None of these

Amount, cash, or other assets removed from business by owner is?

• A. Capital
• B. Drawing
• C. Assets
• D. None of these

Under the diminishing balance method depreciation amount is?

• A. Payment
• B. Receipt
• C. Expenditure
• D. None of these

Returned on investment is computed?

• A. Invest / profit * 100
• B. (profit / investment) * 100
• C. (profit – dividend) / investment * 100
• D. None of these

Sugar used in a sugarcane company is?

• A. Variable cost
• B. Semi variable cost
• C. Fixed cost
• D. Step fixed cost

An auditor is liable under the following circumstances?

• A. Third party liabilities
• B. Fraud perpetrated in highly sophisticated circumstances
• C. Both of above
• D. None of these