Q1621
Open questionZ is admitted in a firm for 14 shares in the profit where he brings Rs. 30,000 for goodwill. It will be taken away by the old partners X and Y in
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
82/149
Page
Pick an option on a question to see the right answer and solution.
Q1622
Open questionOn admission of a new partner increase in the value of an assets is credited to
Select an option to see the answer and solution.
Q1623
Open questionThe accounting concepts related to Balance Sheet are
1. Realisation Concept
2. Cost Concept
3. Matching Concept
4. Accounting Equivalence Concept
Select the correct answer
1. Realisation Concept
2. Cost Concept
3. Matching Concept
4. Accounting Equivalence Concept
Select the correct answer
Select an option to see the answer and solution.
Q1624
Open questionA, B and C are partners. A's capital is Rs. 3,00,000 and B's capital is Rs. 1,00,000. C has not invested any amount as capital but alone manages the whole business. C wants Rs. 30,000 per annum as salary. The firm earned a profit of Rs. 1,50,000. How much will be each partner's share of profit?
Select an option to see the answer and solution.
Q1625
Open questionImprovement of profit-volume ratio can be done by
Select an option to see the answer and solution.
Q1626
Open questionStock turnover is:
Select an option to see the answer and solution.
Q1627
Open questionUnder copyright agreement the amount of royalty is computed on the basis of
Select an option to see the answer and solution.
Q1628
Open questionSchedule III Part II of the Companies Act, 2013 deals with which one of the following?
Select an option to see the answer and solution.
Q1629
Open questionA company issued 50,000 Equity shares of Rs. 10 each, Rs. 8 paid up and 50,000 8% Preference shares of Rs. 100 each. Expected profits are Rs. 10,00,000 Normal rate of dividend on Equity shares is 16%, Provision for taxation 60% and 10% of the profit is transferred to reserves.
The value of equity share will be:
The value of equity share will be:
Select an option to see the answer and solution.
Q1630
Open questionThe installation expenses for a new machinery will be debited to:
Select an option to see the answer and solution.
Q1631
Open questionAssests in the Balance Sheet of a company are arranged in the order of
Select an option to see the answer and solution.
Q1632
Open questionHow many columns are there in trial balance?
Select an option to see the answer and solution.
Q1633
Open questionCost of Depreciation fund is
Select an option to see the answer and solution.
Q1634
Open questionA and B are partners in a firm sharing profits in the ratio of 3 : 2. They admit X as a partner for share in profits of the firm. The new profit sharing ratio of A, B and X is
Select an option to see the answer and solution.
Q1635
Open questionSales of a firm are Rs. 74 lakh, variable costs Rs. 40 lakh, fixed costs Rs. 8 lakh. Operating leverage of the firm will be
Select an option to see the answer and solution.
Q1636
Open questionBreak Even Point (BEP) is a point where
Select an option to see the answer and solution.
Q1637
Open questionTo account profit on sale of investment should be debited to?
Select an option to see the answer and solution.
Q1638
Open questionNet profit before following adjustment is Rs. 3,60,000
Outstanding salary is Rs. 20,000
Prepaid insurance is Rs. 26,000
After adjustment net profit is
Outstanding salary is Rs. 20,000
Prepaid insurance is Rs. 26,000
After adjustment net profit is
Select an option to see the answer and solution.
Q1639
Open questionWhen a firm is dissolved, the profit or loss shared on the realization by the partners is
Select an option to see the answer and solution.
Q1640
Open questionOn dissolution of a firm, the assets of firm are transferred to realization account at their
Select an option to see the answer and solution.