Q681
Open questionWhich of the following items is not taken in profit and loss appropriation account?
Select an option to see the answer and solution.
Commerce · all questionsAccounting
Accounting
practice.
Practice every MCQ with options. Use Show answers when you want the correct option and solution.
2,968
Questions
35/149
Page
Pick an option on a question to see the right answer and solution.
Q682
Open questionIf the current ratio of a company is 2 : 1, which of the following transactions would improve the ratio?
Select an option to see the answer and solution.
Q683
Open questionAn expenditure is capital expenditure because
Select an option to see the answer and solution.
Q684
Open questionWhich of the following acid test ratio can be said to be satisfactory:
Select an option to see the answer and solution.
Q685
Open questionMatch List-I with List-II and choose the correct option:
| List-I | List-II |
| a. Surrender Value | 1. Stock |
| b. Share holder becoming insane | 2. Insurance policy |
| c. Share warrant | 3. Transfer of shares |
| d. Fully-paid shares | 4. Negotiable Document |
Select an option to see the answer and solution.
Q686
Open question'Proposed dividend' is shown under which head in company's balance sheet?
Select an option to see the answer and solution.
Q687
Open questionPaid-up current ratio = 2.8
Acid test ratio = 1.5
Working capital = Rs. 1,62,000
What will be liquid asset?
Acid test ratio = 1.5
Working capital = Rs. 1,62,000
What will be liquid asset?
Select an option to see the answer and solution.
Q688
Open questionUnder which of the following method of depreciation the amount of asset is never reduced to zero?
Select an option to see the answer and solution.
Q689
Open question'Contingent liability' is a liability
Select an option to see the answer and solution.
Q690
Open questionA machine was bought on 1st January, 1994 for Rs. 10,000. Its working life was estimated to be four years. The method of depreciation used is the 'sum of the year digit'. The machine was discarded and sold on 30th June, 1996 for Rs. 1,000. The profit/loss on sale of the discarded machine was:
Select an option to see the answer and solution.
Q691
Open questionWhich of the following transactions affects the flow of funds?
Select an option to see the answer and solution.
Q692
Open questionDebit is equal to credit-
Select an option to see the answer and solution.
Q693
Open questionRedeemable preference shares of Rs. 1,00,000 are redeemed at par for which purpose fresh equity shares of Rs. 80,000 are issued at a discount of 10%. The amount to be transferred to Capital Redemption Reserve Fund will be:
Select an option to see the answer and solution.
Q694
Open questionDirection-The question have two statements.
One is labelled as Assertion (A) and the other as Reason (R). You have to examine both the statements carefully and decide whether Assertion (A) and Reason (R) separately are true and if so then reason is the correct explanation of the assertion. Mark these items on the answer sheet.
Assertion (A): Interest payable on working capital should be treated as an item of operating expenses.
Reason (R): Interest is the cost of capital used in the business.
One is labelled as Assertion (A) and the other as Reason (R). You have to examine both the statements carefully and decide whether Assertion (A) and Reason (R) separately are true and if so then reason is the correct explanation of the assertion. Mark these items on the answer sheet.
Assertion (A): Interest payable on working capital should be treated as an item of operating expenses.
Reason (R): Interest is the cost of capital used in the business.
Select an option to see the answer and solution.
Q695
Open questionA firm had a Capital Balance of Rs. 1,00,000 at the beginning of a year. At the end of the year, the firm has total assets of Rs. 1,50,000 and total liabilities of Rs. 70,000. If the total withdrawals during the period were Rs. 30,000, what was the amount of net profit/net loss for the year:
Select an option to see the answer and solution.
Q696
Open questionA company issued debentures of Rs. 60,000 at discount of Rs. 3,000 on 1st April 1996. they are repayable in 3 equal instalments each on 31st March, every year. The financial year of the company ends on 31st December every year. How much discount will be written off in the second year:
Select an option to see the answer and solution.
Q697
Open questionM. Ltd. forfeited 50 shares of Rs. 100 each issued to X (Rs. 80 called up) on which the allotment money of Rs. 30 and the first call money of Rs. 20 have not been received. The company reissued these shares @ Rs. 90 per share as fully paid up. The amount to be transferred to Capital Reserve Account would be:
Select an option to see the answer and solution.
Q698
Open questionCapital, at the beginning of the accounting year, is ascertained by preparing
Select an option to see the answer and solution.
Q699
Open questionAs per Section 37 of the Indian Partnership Act 1932, the executors of a deceased partner would be entitled at their choice to the interest calculated from the date of death till the date of payment on the final amount due to the partner at . . . . . . . . per annum.
Select an option to see the answer and solution.
Q700
Open questionWhich of the following are the applications of funds?
1. Redemption of preference share capital
2. Payment of dividend
3. Increase in working capital
1. Redemption of preference share capital
2. Payment of dividend
3. Increase in working capital
Select an option to see the answer and solution.