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ORDER BY `video_id` desc 12th Standard Accountancy English Medium Model 1 Mark Book Back Questions (New Syllabus) 2020 12th Standard
Accountancy Part A Which one of the following statements is not true in relation to incomplete records? It is an unscientific method of recording transactions Records are maintained only for cash and personal accounts It is suitable for all types of organisations Tax authorities do not accept Income and expenditure account is a Nominal A/c Real A/c Personal A/c Representative personal account There are 500 members in a club each paying Rs. 100 as annual subscription. Subscription due but not received for the current year is Rs. 200; Subscription received in advance is Rs. 300.Find out the amount of subscription to be shown in the income and expenditure account Rs. 50,000 Rs. 50,200 Rs. 49,900 Rs. 49,800 When a partner withdraws regularly a fixed sum of money at the middle of every month, period for which interest is to be calculated on the drawings on an average is 5.5 months 6 months 12 months 6.5 months Profit after interest on drawings, interest on capital and remuneration is Rs. 10,500. Geetha, a partner, is entitled to receive commission @ 5% on profits after charging such commission. Find out commission. Rs. 50 Rs. 150 Rs. 550 Rs. 500 Identify the incorrect pair Goodwill under Average profit method - Average profit × Number of years of purchase Goodwill under Super profit method - Super profit × Number of years of purchase Goodwill under Annuity method - Average profit × Present value annuity factor Goodwill under Weighted average profit method - Weighted average profit × Number of years of purchase Book profit of 2017 is Rs. 35,000; non-recurring income included in the profit is Rs. 1,000 and abnormal loss charged in the year 2017 was Rs. 2,000, then the adjusted profit is __________ Rs. 36,000 Rs. 35,000 Rs. 38,000 Rs. 34,000 The profit or loss on revaluation of assets and liabilities is transferred to the capital account of The old partners The new partner All the partners The Sacrificing partners Balaji and Kamalesh are partners sharing profits and losses in the ratio of 2:1. They admit Yogesh into partnership. The new profit sharing ratio between Balaji, Kamalesh and Yogesh is agreed to 3:1:1. Find the sacrificing ratio between Balaji and Kamalesh. 1:3 3:1 2:1 1:2 At the time of retirement of a partner, determination of gaining ratio is required To transfer revaluation profit or loss To distribute accumulated profits and losses To adjust goodwill None of these X, Y and Z were partners sharing profits and losses equally. X died on 1st April 2019. Find out the share of X in the profit of 2019 based on the profit of 2018 which showed Rs. 36,000. Rs. 1,000 Rs. 3,000 Rs. 12,000 Rs. 36,000 Which of the following statement is false? Issued capital can never be more than the authorised capital In case of under subscription, issued capital will be less than the subscribed capital Reserve capital can be called at the time of winding up Paid up capital is part of called up capital Balance sheet provides information about the financial position of a business concern Over a period of time As on a particular date For a period of time For the accounting period The term ‘fund’ refers to Current liabilities Working capital Fixed assets Non-current assets Debt equity ratio is a measure of Short term solvency Long term solvency Profitability Efficiency Current liabilities Rs. 40,000; Current assets Rs. 1,00,000 ; Inventory Rs. 20,000. Quick ratio is 1:1 2.5:1 2:1 1:2 Salary account comes under which of the following head? Direct Incomes Direct Expenses Indirect Incomes Indirect Expenses
12th Standard Accountancy English Medium Model 1 Mark Book Back Questions (New Syllabus) 2020
Question Bank Software Aug-25 , 2020
Model 1 Mark Book Back Questions (New Syllabus) 2020
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