Match List - I with List - II and select the correct answer using the codes given below the lists :
List - I List - II
(a) Goodwill of company (i) Current a liability
(b) Overdraft (ii) Fixed Assets
(c) Preliminary Expenses (iii) Reserves and Surplus
(d) Premium on Issue of Shares (iv) Fictitious Assets
| A. | Codes : (a) (b) (c) (d) (ii) (i) (iv) (iii) |
| B. | Codes : (a) (b) (c) (d) (i) (ii) (iv) (iii) |
| C. | Codes : (a) (b) (c) (d) (i) (ii) (iii) (iv) |
| D. | Codes : (a) (b) (c) (d) (ii) (i) (iii) (iv) |
|
Option: A Explanation : Click on Discuss to view users comments. |
The degree of financial leverage reflects the responsiveness of
| A. | Operating income to changes in total revenue |
| B. | EPS to changes in EBIT |
| C. | EPS to changes in total revenue |
| D. | None of the above |
|
Option: B Explanation : Click on Discuss to view users comments. |
Mr. James, a citizen of U.S., arrived in India for the first time on 1st July, 2010 and left for Nepal on 15th December 2010. He arrived to India again on 1st January 2011 and stayed till the end of the financial year 2010-11. His residential status for the assessment year 2011-12 is
| A. | Resident (ordinarily resident) |
| B. | Not ordinarily resident |
| C. | Non-resident |
| D. | None of the above |
|
Option: B Explanation : Click on Discuss to view users comments. |
Which one of the following statements is true?
| A. | Capital expenditure does not affect the profitability of a concern but revenue expenditure does. |
| B. | Capital expenditure affects the profitability of a concern directly but revenue expenditure does not. |
| C. | Capital expenditure affects the profitability of a concern indirectly but revenue expenditure affects directly. |
| D. | Both capital expenditure and revenue expenditure affect the profitability of a concern directly. |
|
Option: C Explanation : Click on Discuss to view users comments. |
