Which of the following is not a capital receipt? MCQ with Answer and Explanation
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Question #1
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The term 'Amalgamation' in partnership refers to:
Correct Answer: Option A
Explanation:
Amalgamation occurs when two or more existing partnership firms decide to merge their businesses into a new partnership firm.
Amalgamation occurs when two or more existing partnership firms decide to merge their businesses into a new partnership firm.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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Which of the following is an example of an internal source document?
Correct Answer: Option C
Explanation:
A material requisition slip is generated internally within the organization to authorize the transfer of materials.
A material requisition slip is generated internally within the organization to authorize the transfer of materials.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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Under the Straight Line Method of depreciation, the amount of depreciation:
Correct Answer: Option B
Explanation:
SLM calculates depreciation on the original cost, resulting in the same amount being charged each year.
SLM calculates depreciation on the original cost, resulting in the same amount being charged each year.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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