Legacy donation is generally treated as: MCQ with Answer and Explanation
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Question #1
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In the absence of an agreement, what is the profit-sharing ratio among partners?
Correct Answer: Option B
Explanation:
Under the Indian Partnership Act, 1932, if the deed is silent, all partners share profits and losses equally.
Under the Indian Partnership Act, 1932, if the deed is silent, all partners share profits and losses equally.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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Which of the following ratios is a measure of long-term solvency?
Correct Answer: Option D
Explanation:
Debt-equity ratio indicates financial leverage and long-term solvency.
Debt-equity ratio indicates financial leverage and long-term solvency.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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A: The Consolidated Fund of India includes all revenues received by the Government. R: The government can withdraw money from the Consolidated Fund without parliamentary approval. Choose the correct option.
Correct Answer: Option C
Explanation:
The Consolidated Fund of India includes all revenues, loans, and repayments. However, no money can be withdrawn from it without the authorization of Parliament through an Appropriation Bill. A is true, R is false.
The Consolidated Fund of India includes all revenues, loans, and repayments. However, no money can be withdrawn from it without the authorization of Parliament through an Appropriation Bill. A is true, R is false.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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