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51.

What is meant by Grouping or Marshalling a Balance Sheet ? Or, What is meany by Marshalling of Assets and Liabilities ? Or, What is meant by Marshalling ?

Answer» Grouping of Balance Sheet means putting items of similar nature under a common heading. Marshalling of Balance Sheet means arranging the assets and liabilities in a particular order, i.e., in order of permanence or in order of liquidity
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52.

Computers owned by a firm are classified asA. Fixed AssetsB. Current AssetsC. Liquid AssetsD. None of these

Answer» Correct Answer - A
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53.

Curent liabilities are such obligations which are to be satisfiedA. within one yearB. within two yearsC. within three yearsD. None of these

Answer» Correct Answer - A
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54.

Opening Capital is Rs 1,50,000, Closing Capital Rs 2,75,000, Drawings Rs 25,000, Further Capital introduced Rs 45,000. What is Gross Profit ?A. Rs 55,000B. Rs 1,95,000C. Rs 1,05,000D. Rs 1,75,000

Answer» Correct Answer - C
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