Accounting & Auditing Paper 2007 - 2


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1.    Both the accounts for depreciation expense and accumulateddepreciation?




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2.    When a partnership is liquidated?




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3.    In projecting the future profitability of a trading company,investors will be least concerned with changes in?




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4.    Revenue is most commonly recognized at the time when?




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5.    Which of the following list of accounts is used to compute thecost of goods sold?




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6.    which of the following is ascertained by drawing up an incomeand expenditure account




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7.    On April 1, Hassan & Company received and paid a Rs.700 bill for the advertising done in March. In addition to this bill the company paid Rs. 6,100 during April for expenses incurred in that month. Hassan & Company paid Rs.3,600 as salary to employees for work done in April. Based on these facts, total expenses for themonth of April were?





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8.    Which of the following categories of accounts are closed at theend of an accounting period?




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9.    Bond holders would be most interested in which of the following?




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10.    A retail store had current assets of Rs.72,000 and a current ratio of 2 to 1. The amount of working capital must have been?




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