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Accountancy Quiz 16 (20 MCQs)

Quiz Instructions

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1. Following shown in profit and loss appropriation a/c
2. All the direct revenues and direct expenses are transferred to
3. Debenture holders are
4. What shall be the amount of Capital if cash is Rs. 5, 000; Furniture Rs. 12, 000; Stock Rs. 30, 000 and Creditors Rs. 6, 000.
5. Stock ' 80, 000, X took 50% of the stock at cost less 20%. Remaining stock was sold at a profit of 30% on cost. Realisation Account will be credited by (a) ' 32, 000. (b) ' 52, 000. (c) ' 84, 000. (d) None of these.
6. Double entry in Cash Book is completed when:
7. The Need of revaluation of assets and liabilities on admission
8. The relationship of partner with the firm is that of
9. According to Profit & Loss Account, the net profit for the year is ₹ 1, 50, 000. The total interest on partner's capital is ₹ 18, 000 and interest on partner's drawings is ₹ 2, 000. The net profit as per Profit & Loss Appropriation Account will be:
10. WHO IS THE MAKER THE BILL OF EXCHANGE?
11. The difference between assets and liabilities and is the RIGHTS of the company owner is referred to as
12. In the revaluation account an increase in the value of land and building appears on the
13. Sole Proprietor is also known by ..... business
14. A partner cannot transfer his shares to other ..... consent of existing partners.
15. If the debit and credit aspects of a transaction are recorded in the cash Book it is a:
16. While preparing common-size balance sheet each item of balance sheet is expressed as percentage of
17. Personal accounts are related to
18. Simple petty cash book is like a
19. A promissory note is made by .....
20. Which of these best explains fixed assets?
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