Which of the following is a source of revenue to the federation account?
Market fees
Bicycle licences
Tarrifs
Property rates
Correct answer is C
Tariff is a tax or duty to be paid on a particular class of imports or exports. It is a source of revenue to the government because these taxes are paid to the government of the importing country.
1
2
3
4
Correct answer is B
Turnover ratio is the cost of goods sold divided by the average stock for the same period
Cost of goods sold = opening stock + purchases - closing stock
25,120 + 44,880 - 27,840 = 42,160
Average stock = opening stock + closing stock / 2
25,120 + 27,840 = 52960 / 2 = 26,480
Turn over = 42,160 / 26,480 = 1.59 times Approximately 2 times
1:94:1
1:96:1
1:1:94
1:1:96
Correct answer is B
Acid test ratio = cash + cash equivalents + marketable securities + current accounts receivables / Total current liabilities
Investment at cost of a company is to be disclosed under
Trading accounts
Profit and loss account
Balance sheet
Source and application of fund
Correct answer is C
A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity. The balance sheet is one of the three (income statement and statement of cash flows being the other two) core financial statements used to evaluate a business.
Application and allotment account and credit unsubscribed shares
Application and allotment account and credit cash
Oversubscribed shares and credit allotment account
Oversubscribed shares and credit allotment account
Correct answer is B
You will debit application and allotment account and credit cash because monies that have been collected from the public wil have to be returned