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76. A company has issued a 20-year bond at Rs. 1000 par value with a coupon rate of 10 per cent. The required rate of return on similar bonds is 12 per cent. What is the current value of the bond ?
(A) Rs. 905•33
(B) Rs. 850•45
(C) Rs. 833•33
(D) Rs. 820•20

77. Consider the following statements— Current ratio is increased by 1. issue of redeemable preference shares. 2. selling of old furniture for cash. 3. cash realized from debtors. Which of the statements given above are correct ?
(A) 1 and 2 only
(B) 2 and 3 only
(C) 1 and 3 only
(D) 1, 2 and 3

78. Which one of the following statements is correct ? When creditors' velocity or creditors' turnover is higher as compared to debtors' velocity, it would
(A) improve liquidity
(B) reduce liquidity
(C) have no effect on liquidity
(D) improve financial position

79. Sundry Debtors — Rs.15,000 Bills Receivable (B/R) — Rs.12,500 Cash at Bank — Rs.17,500 Stock — Rs.15,000 Profit — Rs.20,000 Creditors — Rs.25,000 Bills Payable (B/P) — Rs.15,000 Sales — Rs.1,00,000 What is the Acid Test Ratio ?
(A) 1•5 : 1
(B) 1•125 : 1
(C) 16 2/3%
(D) 50%

80. Which one of the following transactions changes the current ratio ?
(A) Purchase of goods for cash
(B) Plant acquired on account
(C) Sold goods on credit
(D) Debentures converted into equity capital