Question

Q1. (A) Do you agree or disagree with the following statements?           (5)

Drawee can transfer the ownership of the bill.

Current ratio measures the liquidity of the business.

In case of Pro-rata allotment the excess application money received must be refunded.

The credit balance of realization account indicates profit.

For increase in value of assets, revaluation account is debited.  ​

Answer 1

Answer:

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