Question

Max. Marks:
Answer all sub-questions. Tick (v) the correct answer. Each question carries
Section A
ONE mark.
1. For the year 2008,2009,2010, if the rate of gross profit were 15%,20% and 18%
6x
respectively, then the rate of average gross profit for the year 2011 will be
a) 15% b) 18%
c) 17.67%
d) 20%
2. Fire insurance provides cover for
a) Tangible Assets
b) Intangible Assets
c) Current Assets
d) Liquid Assets
3. Stock and debtors system is generally used when goods are sent to the branch at
a) Cost Price
b) Invoice Price
c) Both
d) Cost less invoice price
4. Average clause discourages
a) Over Insurance b) Insurance c) Both d) Under Insurance
5. Head office sends goods to branch at invoice price after adding 25% on cost price, so
the profit would be
% of invoice price
a) 33.33% b) 40%
c) 20%
d) 25%
. Which of the following is correct?
a) Dependent branch prepares complete set of books of accounts
b) Dependent branch prepares its own balance sheet​

Answer 1

Answer:

2.c) current assets

3. c) both

Answer 2

Answer:

c current assets..............

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