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Accounting Practice MCQs Competitive Exams Set 1
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(a) F.W.Taylor
Answer: (c)
(2) Funds Flow Statement and sources and application statement are:
(a) Synonymous
(b) Antagonistic
Answer: (a)
(a) Depletion
(b) Amortization
(c) Depression.
Answer: (b)
Answer: (b)
(5) In Insurance, the following Profit and Loss Accounts are prepared:
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Answer: (b)
(a) 20
(b) 50
(c) 75.
Answer: (a)
Answer: (a)
(b) FC I- VC TR
Answer: (b)
Answer: (c)
(10) In straight line method of depreciation, the written down value of a fixed asset will be at
the end of the life of the asset as under:
Answer: (b)
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(a) Independently
Answer: (c)
(12) Consolidation of subsidiary accounts in the balance sheet of an unlisted Holding company
is at present in Pakistan:
(a) Compulsory
(b) Voluntary
(c) Required.
Answer: (c)
Answer: (a)
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