Question
6. The account which is prepared in order to show how profits are distributed amongst the partners is called; a. Profit & Loss Appropriation A/c
6. The account which is prepared in order to show how profits are distributed amongst the partners is called;
a. Profit & Loss Appropriation A/c
b. None of the above
c. Income statement
d. Profit & Loss A/c
.
7. When the firms operating in the same line of business combine together, it is called;
a. Conglomeration
b. Vertical integration
c. Horizontal integration
d. Merger
.
8. When the firms operating in different lines of unrelated businesses combine, it is called;
a. Merger
b. Conglomeration
c. Vertical integration
d. Horizontal integration
.
9. When the firms operating in the same line of business but at different stages come together, it is called;
a. Horizontal integration
b. Vertical integration
c. Conglomeration
d. Merger
.
10. Goodwill is..
a. Intangible Assets
b. Assets
c. Tangible Assets
d. Current Assets
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