The difference between the closure of the books of a branch and those of a separate company is that?
There is retained earnings account on the branch books
The revenue and expenses account is closed to branch current account
There is no retained earnings account on the branch
The revenue and expenses account is not closed to the home office current account
Correct answer is A
No explanation has been provided for this answer.
Stock account is debited
Purchases account is debited
Stock account is credited
Mark-up account is debited
Correct answer is B
No explanation has been provided for this answer.
To compute gearing ratio, divide?
Profit by capital employed
Current assets by current liability
Profit by total assets
Long-term debts by equity capital
Correct answer is D
No explanation has been provided for this answer.
The part of equity which is payable on winding up is called?
General reserve
Revenue reserve
Capital reserve
Normal reserve
Correct answer is B
No explanation has been provided for this answer.
i, ii and iii only
i, ii and iv only
i, iii, and iv only
ii, iii and iv only
Correct answer is A
No explanation has been provided for this answer.