43
A document which acknowledge that a company owes a person a stated sum of money with an agreement to pay a fixed rate of interest periodically is
- A. share certificate
- B. allotment certificate
- C. preference certificate
- D. debenture certifate
44
Rent is apportioned each department on the basis of
- A. area or space occupied
- B. equuality
- C. turnover
- D. purchases
45
Which of the following is not part of the cost of production
- A. wages of operators
- B. factory power
- C. advertising
- D. cost of raw materials
46
The reduction in value of an intangible asset is
- A. depletion
- B. depression
- C. amortization
- D. appreciation
47
Subscription prepared by members is recorded in the balance sheet of a club as a
- A. current liability
- B. current asset
- C. fixed asset
- D. long term liability
48
In the absence of an agreement, partners share profits
- A. based on activeness of a partner
- B. based on capital contribution
- C. on patronage basis
- D. on equal basis
49
As a basis for assessing future usage, fixed assets are shown at
- A. selling price
- B. cost price
- C. cost plus residual value
- D. net book value
50
Which of the following books of original entry is used to record all payments and receipt by cash or cheque?
- A. sales day book
- B. cash book
- C. purchase day book
- D. general journal