Classical

Financial and Management Accounting - Financial and Management Accounting Practice Questions

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

 
 

Option: D

Explanation :


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

 
 

Option: C

Explanation :


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

 
 

Option: A

Explanation :


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

 
 

Option: B

Explanation :


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%

 
 

Option: C

Explanation :




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