41. The debtors are Rs. 30,000 (before bad debts of Rs. 1,000 and provision of bad debts at 5%). A provision for discount on debtors @ 2% would be-
42. Current ratio can be increased-
43. When there is no agreement between partners for sharing profits and losses then it should be shared among partners in what ratio.
44. If minimum subscription is not received, application money should be refunded within how many days?
45. A, B and C were partners with a capital of Rs. 50,000; Rs. 40,000 and Rs. 30,000, respectively, carrying on business in partnership. The firm's reported profit for the year was Rs. 80,000. As per the provision of the Indian Partnership Act, 1932, find the share of each partner in the above amount, taking into consideration that interest has not been provided on an advance of Rs. 20,000 by A in addition to his capital contribution.
46. Accounting in modern age is regarded as:
47. A company redeemed its 2,00,000/- preference shares. For this it issued equity share capital of Rs. 1,50,000/- and Rs. 1,00,000/- bonus shares were also issued. What will be the net effect of these transactions on fund flow
48. When goods distributed as free samples and charity purpose, one of the following journal entry mentioned below is correct.
49. X and Y are partners who share profit and loss in the ratio of 2 : 1, and who have capital balances (credit) of Rs. 40,000 and Rs. 30,000 respectively. If Z, with the consent of Y, acquired one-half of X's interest for Rs. 25,000, for what amount would Z's Capital Account be credited:
50. The main source of working capital is-
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Each Section contains maximum 100 MCQs question on Accounting. To get more questions visit other sections.
- Accounting - Section 1
- Accounting - Section 2
- Accounting - Section 3
- Accounting - Section 4
- Accounting - Section 5
- Accounting - Section 6
- Accounting - Section 7
- Accounting - Section 8
- Accounting - Section 9
- Accounting - Section 10
- Accounting - Section 11
- Accounting - Section 12
- Accounting - Section 14
- Accounting - Section 15
- Accounting - Section 16
- Accounting - Section 17
- Accounting - Section 18
- Accounting - Section 19
- Accounting - Section 20
- Accounting - Section 21
- Accounting - Section 22
- Accounting - Section 23
- Accounting - Section 24
- Accounting - Section 25