Shaba Company has: Cash 20,000; Inventory 40,000; Bills Payable 20,000; Bank Overdraft 60,000; Accounts Receivable 20,000. What is the Current Ratio?

1.In the absence of a partnership deed, what is the rate of interest on a loan provided by a partner?

2.In the absence of a partnership deed, how is the business profit distributed among partners?

3.If a partner withdraws 2,000 Taka on the first day of every month, what will be the amount of interest at 10%?

4.What is Polash's share of the profit?

5.If a company has no goodwill, at what price does it usually issue shares?

6.Which of the following is a characteristic of a company organization?

7.Total authorized shares are 20,000 at a face value of 10 Taka each. If the company issues 16,000 shares at a premium of 2 Taka per share, what is the Paid-up Capital?

8.What do you call the portion of authorized capital that is advertised for sale?

9.What is the journal entry for returning excess share application money?

10.Which of the following is a long-term liability?

11.According to which principle is inventory valued?

12.At what maximum rate can a company issue shares at a discount?