Financial and Management Accounting - Financial and Management Accounting Practice Questions

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26:  

Assets and liabilities are revalued at the time of admission of a new partner because

A.	The new partner should not be benefitted from any appreciation in the value of assets.
B.	The new partner should not suffer because of any depreciation in the value of assets.
C.	The new partner should not benefit from any diminution in liabilities or suffer from any appreciation in liabilities.
D.	All of the above
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	Option: D Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

27:  

According to section  ---- of the Indian Partnership Act, 1932, dissolution of partnership between all the partners of a firm is called the 'dissolution of the firm'.

A.	37
B.	38
C.	39
D.	40
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	Option: C Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

28:  

All the fully paid up shares of a company may be converted into stock if so authorised by the ----- of a company.

A.	Articles of Association
B.	Memorandum of Association
C.	Registrar of Companies
D.	Company Law Board
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	Option: A Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

29:  

As per SEBI's guidelines, an existing company is free to price its issue, if it has a

A.	Five years track record of consistent profitability
B.	Three years track record of consistent profitability
C.	Four years track record of consistent profitability
D.	Six years track record of consistent profitability
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	Option: B Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

30:  

The listed companies are allowed to pay brokerage on private placement of capital at the maximum rate of

A.	1%
B.	0.5%
C.	1.5%
D.	2%
	Answer Report Discuss
	Option: C Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

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