Cash Flow Statement Short Questions Q&A

2. What are the objectives of IAS-7? See answer 4. Give two examples of operating activities. See answer 6. Give two examples of investing activities. See answer 8. Give two examples of financing activities. See answer

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Manufacturing Accounts Q&A

2. Define trading concern. See answer 4. Define direct labor cost. See answer 6. Explain indirect labor. See answer 8. What is prime cost? See answer 10. What is factory cost? See answer

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Admission of New Partner Q&A

2. What kind of accounting treatment is required when a new partner is admitted? See answer 4. What is meant by “new ratio”? See answer 6. Define revaluation. See answer 8. State the usual methods of that are applied to calculate the value of goodwill. See answer 10. What general entry is passed for the transfer of the general reserve? See answer

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Financial Statement Q&A

2. What are the objectives of financial statements? See answer 4. What is a retained earnings statement? See answer

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Dividend and Bonus Q&A

2. What is an interim dividend? See answer 4. What is a scrip dividend? See answer 6. What are the modes of payment for dividends? See answer 8. What journal entries are passed when a dividend paid in cash? See answer

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