Target Exam

CUET

Subject

Accountancy Part A

Chapter

Accounting for Shares

Question:

Arrange the following in the sequence when shares are issued for consideration other than cash in the books of purchaser:

(A) Shares capital is credited for shares issued to vendor

(B) Assets aquired are debited

(C) Vendor’s Account credited with purchase price

(D) Vendor’s Account debited with issue of shares

Choose the correct answer from the options given below:

Options:

(B), (C), (D), (A)

(A), (D), (B), (C)

(C), (A), (B), (D)

(D), (A), (B), (C)

Correct Answer:

(B), (C), (D), (A)

Explanation:

The correct answer is Option (1) → 

(B), (C), (D), (A)