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Q. While putting the value or price of an entity in financial records the lowest price is recorded not the current price or current market value. This is known as

Q. A person who declares by word of mouth as partner of the firm is called:

Q. Right share are not offered to the existing equity shareholders if:

Q. Goodwill is valued as two years purchase of the average profits of three previous years are Rs. 15000, the value of goodwill be:

Q. The accounting procedure at the retirement of partner is valued:

Q. Opening balance of debtors a/c is Rs 1,40,000. Credit sales is Rs 10,74,000 and closing balance of Debtors a/c is Rs 1,90,000. What is the amount of cash collection from the debtors?

Q. In final account system, Branch Trading and Profit & Loss A/c is prepared at ________

Q. Retirement or death of a partner.

Q. Capital A/c is a _______ A/c.

Q. In profit and loss account, if credit is more than the debit, the difference is