21) A company cannot issue redeemable preference shares for a period exceeding
22) The following error will affect the Trial Balance
Error of partial omission![]()
Error of principle![]()
Error of complete omission![]()
All of the above![]()
Answer : A Discuss
23) Income includes
24) Cash Account is
25) Heavy amount spent for the advertisement of new company product is
Revenue expenditure![]()
Deferred Revenue expenditure![]()
Capital expenditure![]()
Either 'a' or 'c'![]()
Answer : B Discuss
26) Liability for bill discounted is a
27) Interest on debentures is calculated on
Purchase value of debentures![]()
`Market value of debentures![]()
Face value of debentures![]()
All of the above![]()
Answer : C Discuss
28) The parties to joint venture are called
29) Under diminishing balance method, depreciation
Is constant every year![]()
Increases every year![]()
Decreases every year![]()
None of the above![]()
Answer : C Discuss
30) Legal expenses incurred on a suit for breach of contract to supply goods is a
Capital expenditure![]()
Deferred Revenue expenditure![]()
Revenue expenditure![]()
Both 'b' and 'c'![]()
Answer : C Discuss