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Accountancy Quiz 10 (30 MCQs)

Quiz Instructions

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1. Which analysis is considered as dynamic
2. Promoters of company may be issued shares for the services rendered by them. the entry will be:
3. Net profit of a firm is ₹ 49, 500. Manager is entitled to a commission of 10% on profits before charging his commission. Manager's Commission will be:
4. From the following information, how much amount will be shown as Cash Flow from Financing Activities? Equity Share Capital cr. yr:20, 00, 000 pr. yr:18, 00, 000 10% Debentures cr. yr.:2, 00, 000 2nd pr.:3, 00, 000 Securities Premium Reserve cr yr:1, 00, 000 pr.yr:80, 000 Additional Information:Debentures were redeemed on 31st March, 2020
5. Journal entries goodwill already appears in the books
6. Cash sales to Ahmed Raza will be posted to debit side of:(2016)
7. Trade discount means
8. The process of accounting starts with ..... and ends with .....
9. Accounting is also known as the language of business
10. Each partner carrying on the business is the principal as well as agent for all the other partners.
11. Which one of the following is representative personal account?
12. The information regarding the rate of dividend is a material information for the investors since it provides a basis for forecasting future dividends.The qualitative characteristics of accounting information highlighted here is:
13. Is a partnership firm examined as an individual a legal entity?
14. The payment of a ..... cheque cannot be made direct to the party on the counter
15. The Shareholders' gets dividends, Debenture holders will get.....
16. Amount paid or payable against purchase of goods is
17. Land & Building Account is ..... Account
18. In case of absence of Partnership Deed, Interest on loan is given to the partners @
19. Amount which the firm owes to outsiders is known as .....
20. Following amounts were payable on issue of shares by a Abtech Ltd. Rs.20 on application, Rs. 40 on allotment. Rs. 20 on first call and Rs. 20 on final call. Raj holding 1, 000 shares paid only application and allotment money whereas James holding 800 shares did not payfinal call. Amount of calls in arrears will be .....
21. 10 Main objective of preparing ledger account is to
22. A transaction is an exchange in which participant's ..... or ..... value.
23. Profit earn throught normal activities of business
24. X and Y are partners. Z is admitted as partner for 1/7thshare. New Profit-sharing Ratio will be
25. WHEN AN UNRECORDED ASSET IS SOLD ON DISSOLUTION, IT IS CREDITED
26. In India, the accounting standard board was set up in the year-
27. Following shown in profit and loss appropriation a/c
28. All the direct revenues and direct expenses are transferred to
29. Debenture holders are
30. 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.
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