AdminHelpdice Team30 May, 2024If the royalty is less than minimum rent , the balance of royalty account at the end of the year has to be transfer toSelect Option & Check AnswerCapital reserve account.Reserve capita accountProfit and loss accountNone of the aboveCheck AnswerIncorrect. ❌Related MCQ's A bundle of rights given by law to the creators of literary, artistic, dramatic, musical work is known as...Thu, 23 AprA unique name of symbol or design given to a product or service for easy identification and distinguishing it from ...Thu, 23 AprThe following statement stands true when intangible assets are compared to the current assets...Thu, 23 AprAn asset which does not have a physical form but has the potential to have a monetary value is known as an --------...Thu, 23 AprAt the time of admission of a new partners general reserve appearning in the old Balance Sheet is transferred to:...Thu, 23 AprWhen there is no Goodwill Account in the books and goodwill is raised,................account will be debited...Thu, 23 AprGoodwill is to be calculated at one and half year’ purchase of average profit of last 5 years. The firm earned prof...Thu, 23 AprGoodwill is nothing more than probability that the old customer will resort to the old place. This definition of go...Thu, 23 AprWhen there is a change in the current partners’ association that results in ending the existing agreement and initi...Thu, 23 AprA firm earns ₹1,00,000. The normal rate of return is 10%. The assets of the company amounted to ₹11,00,000 and liab...Thu, 23 Apr
