Q7)Rohit carrying on real estate business sold a piece of land for Rs 4,00,00.000 (cost Rs.3,50,00,000) then the type of receipt is nature and profit on sale is a) Capital & transferred to capital reserve b) Revenue & transferred to P & L a/c  c)Capital & transferred to P&L a/c d) Revenue transferred to general reserve   Q8)In income measurement concepts goes together 7 recognisation of assets & liabilities which of the following   a) Periodicity. Accural, Matching   b) Cest, Accural, matching   C) Going concern, eest, Realization   (d) Going concem. Periodicity, Reliability.   Q9) Imerpretation means   (a) Explanation of meaning and significance of the dats in Financial Statements   (b) Concerned with preparation and presentation of classified data   (c) Systematic analysis of recorded data   (d) Methodical classification of data given in Financial Statements.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Q7)Rohit carrying on real estate business sold a piece of land for Rs 4,00,00.000 (cost

Rs.3,50,00,000) then the type of receipt is nature and profit on sale is

a) Capital & transferred to capital reserve

b) Revenue & transferred to P & L a/c

 c)Capital & transferred to P&L a/c

d) Revenue transferred to general reserve

 

Q8)In income measurement

concepts goes together 7

recognisation of assets & liabilities which of the following

 

a) Periodicity. Accural, Matching

 

b) Cest, Accural, matching

 

C) Going concern, eest, Realization

 

(d) Going concem. Periodicity, Reliability.

 

Q9) Imerpretation means

 

(a) Explanation of meaning and significance of the dats in Financial Statements

 

(b) Concerned with preparation and presentation of classified data

 

(c) Systematic analysis of recorded data

 

(d) Methodical classification of data given in Financial Statements.

 

 

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