Cost accounting

a) Goodwill is a fictitious asset. no
(b) Partly paid-up preference shares can be redeemed.no
(c) Dividend can be paid on calls in advance.no us 205
(d) In the final accounts of a joint-stock company, provision for income-tax for the current year is shown as an appropriation of profits. yes
(e) Goodwill arising on an amalgamation in the nature of merger represents a payment made by the acquirer in anticipation of future economic benefits. yes but should be w/o witing 5 years 

(a)

(b) False, As per the companies Act , only fully paid preference shares  can be redeemed.

(c).

(d) True.

(e) True. should be written off over a period of five years

(1) False

Fictitious asset is a kind of deffered revenue expenditure like discount allowed on debenture whereas Goodwill is a kind of fixed assets (which have no physical assets) generated through reputation and performance (in general) so, it is an intangible asset shown above the heading of tangible fixed assests in balance sheet.

(2) False

As per sec. 80 of Indian Co. Act, 1956 partly paid shares should be converted in fully paid up share before redemption. So, partly paid up shares cannot be redeemed.

(3) True

A company can pay dividend on Calls recevied in Advance if so authorised by its AoA as per sec. 93 of Indian Companies Act.

(4) False

Provision for current year taxation will be shown under the head of provisions in Balance Sheet. (Little confused in this answer)

(5) True

As per AS-14 Goodwill  arising  on  amalgamation  represents  a  payment  made  inanticipation of future income.

Hope it will be useful for you.

Thanks & Regards,

Abhi

i agree with all the answers except one:

Provision for Taxation is to be shown in above the line Profit and Loss Account........and thus it is not a appropriation of profit

hello hai can any one post answers for cs cc test paper 5/2008 for accounts

Generally Goodwill will not arise in amalgamation in the nture of  merger. But if the is any Goodwill in the books of amalgamating company the same will be continued in the amalgamated company. But ultimately this  goodwill also reprsents the future anticipated economic benefits.

Hope it is clear