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ORDER BY `video_id` desc 12th Standard Accounts English Medium Free Online Test One Mark Questions with Answer Key 2020 - Part Six 12th Standard
Accountancy Answer all the questions When capital in the beginning is Rs. 10,000, drawings during the year is Rs. 6,000, profit made during the year is Rs. 2,000 and the additional capital introduced is 3,000, find out the amount of capital at the end Rs. 9,000 Rs. 11,000 Rs. 21,000 Rs. 3,000 Closing capital can be found by preparing a statement affairs at the _____ of the year. opening end centre none of these Receipts and payments account records receipts and payments of Revenue nature only Capital nature only Both revenue and capital nature None of the above Which of the following is shown in Profit and loss appropriation account? Office expenses Salary of staff Partners’ salary Interest on bank loan Amount invested by partners in the partnership business is called __________ Owner's capital Partner's capital Profit and loss appropriation None of these The total capitalised value of a business is Rs. 1,00,000; assets are Rs. 1,50,000 and liabilities are Rs. 80,000. The value of goodwill as per the capitalisation method will be Rs. 40,000 Rs. 70,000 Rs. 1,00,000 Rs. 30,000 At the time of admission of a new partner, revaluation of ________ and ________ should be taken up. capital, assets capital, liabilities assets, liabilities none of these On admission of a new partner, increase in value of assets is debited to Asset A/c Profit & Loss adjustment A/c Opening Statement of affairs Cash A/c On retirement of a partner from a partnership firm, accumulated profits and losses are distributed to the partners in the New profit sharing ratio Old profit sharing ratio Gaining ratio Sacrificing ratio The firm is reconstituted and other partners continue the partnership firm with a new __________ Contract agreement start business none of these _____account which is otherwise called profit and loss adjustment account Capital General reserve fund Revaluation Goodwill Debit balance of revaluation account is ________ Loss Profit Gain Income 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 Profits are distributed among the shareholders in the form of ___________ shares dividends both none of these The public issue must be kept open for atleast 3 days 5 days 7 days 10 days The amount of one call should not be more than _____ of the face value of the share. 25% 50% 75% 100% According to companies (Amendment) Act 2000, a company limited by shares can issue _____ kinds of shares. 1 2 3 4 Debt equity ratio is a measure of Short term solvency Long term solvency Profitability Efficiency Contra voucher is used for Master entry Withdrawal of cash from bank for office use Reports Credit purchase of assets ___________ is one of the most widely used financial accounting softwares Tally Excel Word Spread sheet Answers Rs. 9,000 end Both revenue and capital nature Partners’ salary Partner's capital Rs. 30,000 assets, liabilities Asset A/c Old profit sharing ratio agreement Revaluation Loss In case of under subscription, issued capital will be less than the subscribed capital dividends 3 days 25% 2 Long term solvency Withdrawal of cash from bank for office use Tally
12th Standard Accounts English Medium Free Online Test One Mark Questions with Answer Key 2020 - Part Six
Question Bank Software Nov-06 , 2020
12th Standard Accounts English Medium Free Online Test One Mark Questions with Answer Key 2020 - Part Six
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