Question

If the whole of the issue of shares or Dcbcntures is underwritten it is known as:
(a) Partial underwriting
(b) Incomplete underwriting
(c) Complete underwriting (d) None of the above
Gain on sale of fixed assets is shown in the statement of profit and loss as
(a) Other income
(b) Revenue from operations
(c) Any of the above
(d) None of the above
46.
Profil prior to incorporation should be credited to:
(a) Goodwill a/c
(b) Revenue Reserve a/c
(c) Capital Reserve a/c
(d) None of the above
Social Responsibility accounting is
(a) Statutory requirement (b) Legal requirement
(c) Voluntary disclosures (d) None of these
Assets which are acquired for own use and not for resale are knows as:
(a) Fixed assets (b) Wasting assets (c) Current assets (d) Fictitious assets
47
48.
Errors of omission are
a) Technical errors
(c) Compensating errors
(b) Error of principle
d) None of the above​

Answer 1

Compensating errors.