96. Standards issued by the International Accounting Standards Board (IASB) are known as:
(A) International Accounting Standards (IAS)
(B) International Financial Standards (IFS)
(C) International Financial Reporting Standards (IFRS)
(D) Indian Accounting Standards (Ind-AS)
Answer:
Explanation:
97. This particular type of capital is not reflected on the liabilities side of a company’s balance sheet.
(A) Authorized capital
(B) Reserve capital
(C) Issued capital
(D) Paid-up capital
Answer:
Explanation:
98. Which of the following is also known as consolidation of fully paid-up shares?
(A) Stock
(B) Capital
(C) Preference shares
(D) Reserve
Answer:
Explanation:
99. The correct journal entry for goods purchased on cash from ABC Ltd is:
(A) Purchase A/C (Debit) – To ABC Ltd. A/C (Credit)
(B) ABC Ltd. A/C (Debit) – To Purchase A/C (Credit)
(C) Purchase A/C (Debit) – To Cash A/C (Credit)
(D) Goods A/C (Debit) – To ABC Ltd. A/C (Credit)
Answer:
Explanation:
100. PE ratio indicates which of the following?
(A) Ratio of market price per equity share and earning per equity share
(B) Ratio of book value per equity share and earning per equity share
(C) Ratio of market price per preference share and earning per preference share
(D) Ratio of market price per equity share and earning per preference share
Answer:
Explanation:
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