Outstanding subscription of the previous year is also outstanding in the current year. The correct treatment is— i. Add to subscription in the Income and Expenditure Account ii. Show as an asset in the Capital Fund iii. Show as an asset in the Statement of Financial Position Which one is correct?

1.In a partnership business, through which account are omitted matters and errors adjusted?

2.Which of the following is an example of cash flow from financing activities?

3.Which of the following is an example of cash flow from investing activities?

4.What is the amount of gross profit?

5.Which of the following is not a liability?

6.Ratio analysis is used to examine— i. Efficiency ii. Solvency iii. Profit-earning capacity Which one is correct?

7.Ratio is—

8.What is the ideal quick ratio?

9.The objectives of cost accounting are— i. Determination ii. Recording iii. Control Which one is correct?

10.Which of the following is a factory overhead?

11.According to factory rules, what is the standard time?

12.Under which inventory system is the quantity of closing stock determined at the \end{of}the accounting period?