Matching Questions

Match List-I with List-II regarding the core accounting metrics and concepts across various partnership events:List-I (Accounting Metrics)List-II (Partnership Event)(A) Sacrificing ratio(I) Dissolution of Partnership(B) Gaining Ratio(II) Admission of a New Partner(C) Executors Account(III) Retirement of a Partner(D) Realisation Account(IV) Death of a PartnerChoose the correct answer from the choices given below:

Match List-I with List-II:List-IList-II(A) Meaning of Dissolution(I) Section 49 of the Partnership Act, 1932(B) Application of Assets(II) Section 39 of the Partnership Act, 1932(C) Private Debts Vs Firm's Debts(III) Section 4 of the Partnership Act, 1932(D) Nature of Partnership(IV) Section 48 of the Partnership Act, 1932Choose the correct answer from the options given below:

Match List-I with List-II:List-I (Ratio Category)List-II (Specific Ratio Example)(A) Liquidity Ratio(I) Interest Coverage Ratio(B) Profitability Ratio(II) Acid-Test Ratio(C) Solvency Ratio(III) Fixed Assets Turnover Ratio(D) Activity Ratio(IV) Return on Capital Employed RatioChoose the correct answer from the options given below:

Match List-I with List-II:List-IList-II(A) Statements indicating the relationship of different items of a financial statement with a common item by expressing each item as a percentage of that common item(I) Trend Analysis(B) Technique of studying the operational results and financial position over a series of consecutive years(II) Comparative Statements(C) Statements showing profitability and financial position for different periods of time to give an idea about the changes between two or more periods(III) Ratio Analysis(D) Describes the significant mathematical relationship which exists between various items of a balance sheet and a statement of profit and loss(IV) Common-Size StatementsChoose the correct answer from the options given below:

Match List-I with List-II:List-I(A) The maximum amount of share capital which a company is authorized to issue is known as(B) Shares can be forfeited for(C) The profit on the reissue of forfeited shares is transferred to(D) Balance of share forfeiture account is shown in the balance sheet under the itemList-II(I) Capital reserve(II) Share capital(III) Nominal share capital(IV) Non-payment of call moneyChoose the correct answer from the options given below:

Match List-I with List-II:List-IList-II(A) On dissolution of a firm, creditors is transferred to:(I) Bank account is credited(B) Unrecorded liabilities when paid:(II) Realization Account(C) When realization expenses are paid by the firm on behalf of a partner, such expenses are(III) Bank account is debited.(D) When unrecorded assets are sold(IV) Partner's Capital AccountChoose the correct answer from the options given below: