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1. In the hire hire purchase purchase system system the the buyer become the the owner of goods goods on _____  _____  a. Signing the agreement  b. The payment of first installment installment c. The payment of last installment 2. All the the expenses expenses of branches branches are paid paid directly directly by ______  ______  a.Head of ranch b.Head office c.Stoc! reser"e account #. ______is ______is the property property in goods passes passes to the purchases purchases immedia immediately tely on signing signing the contract contract a. Installment $urchase system  b. Hire purchase c. Accounting Treatment Treatment %. Statem Statement entof of affai affairs rs is also also calle called d as ______  ______   a.Single entry b. &on"ersion &on" ersion c. 'et worth (. The amount amount payable payable to the retiri retiring ng partner partner may be paid paid ______  a. )umpsum payment  b. $ayment in installments with interest c. All of these *. Sacrifi Sacrificin cing g ratio ratio can be calcul calculate ated d by______  by______  a. 'et ratio less old ratio  b. +ld ratio less new ratio c. +ld ratio less gaining ratio ,. -pon dissolut dissolution ion of a firm firm liability liability ta!en ta!en o"er by a partner partner is is to be ____  ____  a. /ebited to partner0s capital  b. &redited to partner0s capital c. &redited to realiation account . Head office office send sendss goods goods to to branch branch at _____  _____  a. &ost price b. In"oice price c. 3ar!et price 4. 5e"alua 5e"aluatio tion n accou account nt is a ______ ________  __  a.$ersonal account  b. 5eal account c. 'ominal account 16. The amount payable to the retiring partner partner may be paid ______ a. )umpsum payment

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 b. $ayment in installments with interest c. All of these

S,/i+ 5B ((32(4 A+$r %77 /# 8$/i+$! 11. %4 %4 7xplain the features of the consignement. 8b9 State the difference between hire purchase and installment:

OR4

12. 8a9;rom the following following details prepare the account sales < &onsignor < A=antha cycles )td. Haryana. &onsignee < Sri 5am cycles &hennai. &onsignment < 166 cycles > 5s. 1266 each. Sales

< (6 cycles > 5s. 1%66 each.

26 cycles > 5s. 1(66 each. C+$i+$ 9:+$$  <

;reight and cartage ? @odown rent +ther expenses

?

5s. (666

5s. 2666 ?

5s. 1666

&onsignees commission ? 16 

OR4

8b9 A company company sends #66 bales of cotton to its consignee consignee costing 5s *66 $er bale. The following expenses were were incurred in the connection 8a9 5s 466 paid by the consignor for dispatching the goods 8b9 5s 2666 paid by the consignee by the way of freight duty and clearing charges 8c9 5s 1666 paid by the consignee by the way of godown rent and salaries of

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1#. 8a9The following information information relates to 3adurai ranch 5s Stoc! on 1.1.261( ranch debtors on 1.1.261( @oods sent to branch &ash sent to branch for    5e 5ent 1(66   Sa S alaries #666 $etty cash (66 Sales at branch   &a &ash 2(666   &r &reddit #6666 &ash recei"ed from debtors Stoc! on #1.12.261(

5s 11266 *#66 (1666

(666

*%666 %1266 1#*66

8+59 8b93r. D purchased a machine on hire?purchase system 5s. #666 being paid on deli"ery and the balance in fi"e instalments of 5s. *666 each payable annually on #1st /ecember. The cash price of the machine was 5s. #6666.&ompute the amount of interest for each year. 1%. 8a9;rom the following details details find out the net credit sales for the year< year< 5s. +pening balance of sundry debtors8/r9 26666 &heCue collection during the year 16666 &ash collection during the year 2(666 E5 recei"ed during the year (666 &losing balance of sundry debtors8/r9 2%666 ad debts written of 2(66 /iscount allowed 1666 @oods returned by customers 2(66 &heCue dishonoured (66 8+59 8b9A firm earned net profits during the last # years as follows< 5s. I year F #*666  II year F %6666

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1(. 8a9/eepa and !asthuri shares profits profits and losses in the ratio of (