71. W, X, Y are partners. They admitted Z into the firm and gave him guarantee that his share in profits will not be less than Rs. 10,000 p.a.. Profits will be shared in 4 : 3 : 3 : 2. If profit for the year is Rs. 48,000 then what is profit share of each partner?
72. After reissue of forfeited shares the balance of Share Forfeited Account will be transferred to:
73. A company was incorporated on 1st May, 1997 for acquiring a business from 1st January 1997. The sales for January, March and September is one and a half times, and the sale of December is twice and that of February is half of the average monthly sale of the year.
The ratio of sale for the period prior to incorporation and after the incorporation will be:
The ratio of sale for the period prior to incorporation and after the incorporation will be:
74. GAAP required to:
75. Match the items given in column-I with the appropriate particulars listed in column-II
Column-I
Column-II
a. Debit balance of the cash book
1. Overdraft
b. Debit balance of the passbook
2. Favourable balance
c. Interest charged by bank
3. Debited in passbook
d. Interest provided by bank
4. Credited in passbook
| Column-I | Column-II |
| a. Debit balance of the cash book | 1. Overdraft |
| b. Debit balance of the passbook | 2. Favourable balance |
| c. Interest charged by bank | 3. Debited in passbook |
| d. Interest provided by bank | 4. Credited in passbook |
76. Capital Profits are earned from:
77. Which of the following should be deducted from the share capital to find out paid-up capital?
78. The accounting concepts which help in ascertaining the profit/loss correctly are:
79. Which of the following is not a source of funds:
80. Which one of the following is not a clerical error?
Read More Section(Accounting)
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 8
- Accounting - Section 9
- Accounting - Section 10
- Accounting - Section 11
- Accounting - Section 12
- Accounting - Section 13
- 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