Interim dividend paid in a year is
Debited to the Income Surplus Account/ Profit and Loss Appropriation Account
Credited to the Income Surplus Account Profit and Loss Appropriation Account
Debited to the Profit and Loss Account
Credited to the Profit and Loss Account
Correct answer is A
No explanation has been provided for this answer.
Uncredited cheques refer to cheques not yet credited
In the cash book
By the bank
By the drawer
In the ledger
Correct answer is A
No explanation has been provided for this answer.
An effect of increase in the provision for depreciation is
Decrease in gross profit
Increase in net profit
Increase in gross profit
Decrease in net profit
Correct answer is C
No explanation has been provided for this answer.
The partner whose liability goes beyond his capital is a
Nominal partner
General partner
Limited partner
Dormant partner
Correct answer is B
No explanation has been provided for this answer.
i only
ii only
i and ii only
i and iii only
Correct answer is D
No explanation has been provided for this answer.