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Q2101

Cash selling of stock to current ratio-

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Q2102

Assertion (A): Sinking fund is a charge against profit and loss account.
Reason (R): Sinking fund is created for repayment of a long-term liability.
Which of the following statements is correct?

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Q2103

Sale of long term investment indicates:

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Q2104

Which of the following is a non operating expense?

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Q2105

In the case of dissolution of a firm, which one of the following statements is correct?

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Q2106

Indicate the item that appears in the surplus account

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Q2107

Consider the following statements.
1. Inventory includes raw material, finished goods and goods in process.
2. Inventory is the part of working capital.
3. Inventory includes goods likely to be purchased in the coming months.
Which of the statements given above are correct?

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Q2108

Which of the following is not incorporated in the Partnership Act?

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Q2109

A and B are partners sharing profits in the ratio of 2 : 1 They admit C who agrees that his share of goodwill Rs. 15,000 be debited to his capital he is required to bring in. The future profit sharing ratio of A, B and C will be 2 : 3 : 3 respectively.
A's Capital account in lieu of goodwill will be credited by:

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Q2110

The primary function of the book-keeping is to

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Q2111

Choose the odd one out. The court has the option to order dissolution of a firm, where
1. a partner is of sound mind.
2. a partner do not suffer from permanent in capacity.
3. a partner is not guilty of misconduct of the business.
4. a partner transfers his interest or share to a third party.
Select the correct answer:

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Q2112

If a share of Rs. 10 each on which Rs. 8 has been called and Rs. 6 is paid is forfeited then, the share capital account should be debited with

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Q2113

Balance of share forfeiture after re-issue of forfeited share is transferred to which account?

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Q2114

When goodwill is brought by the incoming partner in the form of cash. The goodwill amount is credited to the old partners in:

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Q2115

Charulata is a partner in a firm. She withdrew Rs. 10,000 in each quarter during the year ending on 31^st March 2019. The interest on her drawings @ 9%per annum will be

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Q2116

Income received in advance is a

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Q2117

Which method is legally accepted for redemption of preference share?

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Q2118

Window dressing is prohibited because of

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Q2119

Arrange the steps of adjustment of partner's capital on the admission of a new partner in sequence.
1. Calculate the adjusted capital of old partners.
2. Calculate the proportionate capital of a new partner.
3. All adjustments should be made.
4. Calculate the total capital of new firm.
Select the correct answer:

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Q2120

Which of the following is not the purpose of admission of a partner?

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