What is the main purpose of the Retained Earnings Statement?

1.What is meant by the balance of the Receipts and Payments Account?

2.What is paid to adjust for an increase in the cost of living?

3.A, B and C are three partners. Their profit-sharing ratio is 2 : 2 : 1. For the needs of the business, C provided a loan of Tk. 10,000 on 31 March. What will be the amount of interest receivable by C on the loan?

4.Stock is— i. Current asset ii. Fixed asset iii. Tangible asset Which one is correct?

5.According to Bangladesh Labour Law, the prescribed weekly working time is—

6.Shareholders earn from business in the form of—

7.The excess of issue price over face value of a share is called— i. Share premium ii. Share bonus iii. Capital reserve Which one is correct?

8.Under the average method, for how many months should interest on drawings be calculated?

9.The cost of goods sold of Sonamoni Ltd. is Tk. 6,00,000. If the gross profit rate on sales is 20%, what is the sales value?

10.If the gross profit rate on sales is 20%, what is the percentage rate on cost of goods sold?

11.Quick assets are— i. Cash fund ii. Prepaid expense iii. Accounts receivable Which one is correct?

12.Ratio is the—