In a consignment transaction, the consignor’s share of profit is determined by:
उत्तर देखें
सही उत्तर: (C) Total sales proceeds less consignee’s commission and other expenses
1 अंक · 2024 · सेट E
प्रश्न 105
In a joint venture, the co-venturers share:
उत्तर देखें
सही उत्तर: (D) More than one of the above
1 अंक · 2024 · सेट E
प्रश्न 106
Which financial statement summarizes the revenue and expenses of a business for a specific period?
उत्तर देखें
सही उत्तर: (B) Profit & Loss Account
1 अंक · 2024 · सेट E
प्रश्न 107
Which of the following items is not included in a Trading Account?
उत्तर देखें
सही उत्तर: (E) None of the above
1 अंक · 2024 · सेट E
प्रश्न 108
Which financial statement represents the financial position of a business at a specific point in time?
उत्तर देखें
सही उत्तर: (C) Balance Sheet
1 अंक · 2024 · सेट E
प्रश्न 109
Which of the following is not a component of a Balance Sheet?
उत्तर देखें
सही उत्तर: (C) Revenues
1 अंक · 2024 · सेट E
प्रश्न 110
An accounting information system processes the financial transactions and events based on:
उत्तर देखें
सही उत्तर: (C) Generally Accepted Accounting Principles
1 अंक · 2024 · सेट E
प्रश्न 111
What are the types of a computerized accounting system?
उत्तर देखें
सही उत्तर: (D) More than one of the above
1 अंक · 2024 · सेट E
प्रश्न 112
Who is the developer of Tally?
उत्तर देखें
सही उत्तर: (C) Shyam Sunder Goenka
1 अंक · 2024 · सेट E
प्रश्न 113
According to Garner vs. Murray, in the absence of any contract to the contrary, deficiency arising on account of a partner becoming insolvent shall be borne by solvent partners in their:
उत्तर देखें
सही उत्तर: (C) Capital ratio before the dissolution of firm
1 अंक · 2024 · सेट E
प्रश्न 114
Outstanding Subscription is classified as a/an:
उत्तर देखें
सही उत्तर: (C) Asset
1 अंक · 2024 · सेट E
प्रश्न 115
An Income and Expenditure Account reveals:
उत्तर देखें
सही उत्तर: (B) Surplus or Deficit
1 अंक · 2024 · सेट E
प्रश्न 116
Which of the following is not a characteristic of a partnership firm?
उत्तर देखें
सही उत्तर: (B) Separate legal entity
1 अंक · 2024 · सेट E
प्रश्न 117
Which of the following accounts is not maintained in the books of a partnership firm?
उत्तर देखें
सही उत्तर: (C) Share Capital Account
1 अंक · 2024 · सेट E
प्रश्न 118
Which of the following is not a method of calculating the value of goodwill in a partnership firm?
उत्तर देखें
सही उत्तर: (E) None of the above
1 अंक · 2024 · सेट E
प्रश्न 119
Which is not included in quick assets?
उत्तर देखें
सही उत्तर: (A) Inventory
1 अंक · 2024 · सेट E
प्रश्न 120
Which of the following is not a method of valuing the share of a partner in a partnership firm?
उत्तर देखें
सही उत्तर: (B) Revaluation Method
1 अंक · 2024 · सेट E
प्रश्न 121
When the profit-sharing ratio among existing partners is changed, which of the following accounts is not affected?
उत्तर देखें
सही उत्तर: (C) Cash Accounts
1 अंक · 2024 · सेट E
प्रश्न 122
Which of the following is not a step in the process of changing the profit-sharing ratio among existing partners?
उत्तर देखें
सही उत्तर: (E) None of the above
1 अंक · 2024 · सेट E
प्रश्न 123
Sale of trade investment indicates:
उत्तर देखें
सही उत्तर: (C) Sources of Funds
1 अंक · 2024 · सेट E
प्रश्न 124
Which of the following is not a cash inflow?
उत्तर देखें
सही उत्तर: (C) Decrease in Trade payables
1 अंक · 2024 · सेट E
प्रश्न 125
If the total reserves and accumulated profits/losses are transferred to the partners’ Capital Accounts, which account is closed?
उत्तर देखें
सही उत्तर: (D) More than one of the above
1 अंक · 2024 · सेट E
प्रश्न 126
Which of the following statements is true regarding the Income and Expenditure Account?
उत्तर देखें
सही उत्तर: (B) It includes only items of revenue nature of the current accounting period.
1 अंक · 2024 · सेट E
प्रश्न 127
As per the provisions of the Companies Act, 2013, the minimum application amount to apply for shares must be at least ____% of the face value of the share.
उत्तर देखें
सही उत्तर: (A) 5%
1 अंक · 2024 · सेट E
प्रश्न 128
Vertical analysis is also known as:
उत्तर देखें
सही उत्तर: (B) Static analysis
1 अंक · 2024 · सेट E
प्रश्न 129
Which of the following is not a method used to calculate the value of goodwill for a new partner?
उत्तर देखें
सही उत्तर: (E) None of the above
1 अंक · 2024 · सेट E
प्रश्न 130
If the new partner brings in cash for their share of capital and premium for goodwill, which account is credited?
उत्तर देखें
सही उत्तर: (D) More than one of the above
1 अंक · 2024 · सेट E
प्रश्न 131
Which of the following accounts is not affected when a partner retires?
उत्तर देखें
सही उत्तर: (E) None of the above
1 अंक · 2024 · सेट E
प्रश्न 132
The provision for discount on debtors is calculated on the amount of debtor:
उत्तर देखें
सही उत्तर: (A) After deducting the provision for doubtful debts
1 अंक · 2024 · सेट E
प्रश्न 133
Which type of codes are usually assigned to source documents for facilitating document search?
उत्तर देखें
सही उत्तर: (C) Sequential Codes
1 अंक · 2024 · सेट E
प्रश्न 134
When the time of withdrawals is not mentioned, interest on drawings is charged:
उत्तर देखें
सही उत्तर: (B) For 6 months
1 अंक · 2024 · सेट E
प्रश्न 135
If the retiring partner’s dues are paid in cash, which account is debited?
उत्तर देखें
सही उत्तर: (C) Capital Account
1 अंक · 2024 · सेट E
प्रश्न 136
The gross profit ratio is calculated by:
उत्तर देखें
सही उत्तर: (A) (Revenue − Cost of goods sold) / Revenue
1 अंक · 2024 · सेट E
प्रश्न 137
Which of the following is not a reason for the dissolution of a partnership firm?
उत्तर देखें
सही उत्तर: (A) Retirement of a partner
1 अंक · 2024 · सेट E
प्रश्न 138
Which of the following accounts is not prepared during the dissolution of a partnership firm?
उत्तर देखें
सही उत्तर: (C) Partners’ Current Accounts
1 अंक · 2024 · सेट E
प्रश्न 139
Which account is credited with the sale proceeds of assets during the dissolution process?
उत्तर देखें
सही उत्तर: (A) Realization Account
1 अंक · 2024 · सेट E
प्रश्न 140
Which of the following is not a step in the dissolution process of a partnership firm?
उत्तर देखें
सही उत्तर: (A) Revaluation of assets and liabilities
1 अंक · 2024 · सेट E
प्रश्न 141
If the partners’ Capital Accounts have a debit balance after the dissolution process, it indicates:
उत्तर देखें
सही उत्तर: (B) A loss to be borne by partners
1 अंक · 2024 · सेट E
प्रश्न 142
Which account is credited when a company issues shares at par?
उत्तर देखें
सही उत्तर: (A) Share Capital Account
1 अंक · 2024 · सेट E
प्रश्न 143
Which of the following statements is not correct?
उत्तर देखें
सही उत्तर: (C) The profit on re-issue of forfeited shares is transferred to the General Reserve Account.
1 अंक · 2024 · सेट E
प्रश्न 144
Which of the following is not a type of share issue?
उत्तर देखें
सही उत्तर: (E) None of the above
1 अंक · 2024 · सेट E
प्रश्न 145
From what is the amount transferred every year to the sinking fund for redemption of debenture account?
उत्तर देखें
सही उत्तर: (B) From profit and loss account
1 अंक · 2024 · सेट E
प्रश्न 146
Which of the following is a correct journal entry for recording goodwill on acquisition?
उत्तर देखें
सही उत्तर: (A) Debit Goodwill, Credit Cash
1 अंक · 2024 · सेट E
प्रश्न 147
Which account is credited when a company issues redeemable preference shares?
उत्तर देखें
सही उत्तर: (B) Preference Share Capital Account
1 अंक · 2024 · सेट E
प्रश्न 148
Partnership deed is also called ________.
उत्तर देखें
सही उत्तर: (B) Articles of Partnership
1 अंक · 2024 · सेट E
प्रश्न 149
Which of the following is a source of funds for the redemption of preference shares?
उत्तर देखें
सही उत्तर: (D) More than one of the above
1 अंक · 2024 · सेट E
प्रश्न 150
Which of the following is not a condition for the redemption of preference shares?