Q1201
Open questionIncome and expenditure account of a non-profit organization is a
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Q1202
Open questionWhen accounting standard board of India is constituted?
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Q1203
Open questionFollowing information is given to you:
Calculate Break Even Point (BEP) of sales
| Sales | Rs. 4,00,000 |
| Fixed cost | Rs. 1,80,000 |
| Variable cost | Rs. 2,00,000 |
Calculate Break Even Point (BEP) of sales
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Q1204
Open questionWhich of the following transactions has no effect in the current ratio?
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Q1205
Open questionWhich of the following items will result in flow of funds:
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Q1206
Open questionOn using reducing balance method on an asset of Rs. 20,000 at the rate of 10% per annum, depreciation for third year will be:
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Q1207
Open questionIf the period for writing-off the short working has expired then it is transferred to which account by lessee?
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Q1208
Open questionAssertion (A): Cash flow Statement and Fund Flow Statement disclose same information.
Reason (R): Both are prepared out of the same date
You are to examine these two statements carefully and select the answers:
Reason (R): Both are prepared out of the same date
You are to examine these two statements carefully and select the answers:
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Q1209
Open questionWhich of the following is not an accounting principle?
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Q1210
Open questionCost of Asset = Rs. 21,000
Scrap value = Rs. 1,000
Depreciation rate = 10% p.a.
What will be the depreciation for the second year if depreciation is charged by straight line method?
Scrap value = Rs. 1,000
Depreciation rate = 10% p.a.
What will be the depreciation for the second year if depreciation is charged by straight line method?
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Q1211
Open questionClosing stock appearing in the Trial Balance is shown in:
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Q1212
Open questionABC Ltd., forfeited 20 shares of Rs. 10 each on which Rs. 6 per share were paid. If out of these shares 8 shares were reissued to Hari as fully paid up on payment of Rs. 5.50 per share, the amount that will stand to the credit of Share Forfeited A/c will be
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Q1213
Open questionConsider the following statements:
Assertion (A): If a shareholder fails to pay the amount of one or more calls on his shares, the company may forfeit his shares.
Reason (R): Even after the forfeiture of shares, that shareholder is responsible to pay the amount due from him until the company receives full amount on those shares.
Now select your answer:
Assertion (A): If a shareholder fails to pay the amount of one or more calls on his shares, the company may forfeit his shares.
Reason (R): Even after the forfeiture of shares, that shareholder is responsible to pay the amount due from him until the company receives full amount on those shares.
Now select your answer:
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Q1214
Open questionMatch List-I with List-II and select the correct answer:
| List-I | List-II |
| a. VED Analysis | 1. Sources and uses of funds |
| b. Ratio Analysis | 2. Inventory control |
| c. Funds Flow Analysis | 3. Analysis & Interpretation of Financial Statement |
| d. Income & Expenditure Analysis | 4. Non-Profit organization |
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Q1215
Open questionThe balance of Debenture Sinking Fund is finally transferred to
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Q1216
Open questionMatch List I with List II and select your answer:
| List-I | List-II |
| a. Cash | 1. Equity Share Capital |
| b. Profit | 2. Fixed Assets |
| c. Discount on issue of Shares | 3. Fictitious Assets |
| d. Machinery & Plant | 4. Current Assets |
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Q1217
Open questionThe balance of which of the following items can also show the credit balance?
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Q1218
Open questionNet sales for the whole year is Rs. 2,50,000 and the debtor is Rs. 50,000, the daily average of credit sales will be
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Q1219
Open questionOn dissolution of a firm while transferring the assets to realisation account. The realisation account is:
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Q1220
Open questionIn the absence of a partnership Deed, the allowable rate of interest on a partner's loan account will be:
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