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Which of the following is NOT a characteristic of a partnership?
A and B are partners sharing profits and losses in the ratio of 3:2. C is admitted as a partner with 1/4 share. What is the new profit sharing ratio?
What is the primary purpose of preparing a 'Revaluation Account'?
X Ltd. forfeited 200 shares of ₹10 each, on which ₹8 was called up and ₹5 was paid. What is the maximum amount of discount that can be allowed on reissue of these shares?
Which of the following is a capital reserve?
Debentures can be issued at:
What is the nature of 'Share Capital' account?
On dissolution of a firm, a partner takes over an unrecorded asset at ₹5,000. Which account will be credited?
What is the formula for calculating the 'Super Profit'?
Which of the following is NOT shown in the Receipts and Payments Account?
X and Y are partners sharing profits and losses in the ratio of 3:2. Z is admitted as a partner for 1/5th share. What is the sacrificing ratio, assuming X and Y continue to share in their original ratio?
What is the primary purpose of preparing a 'Revaluation Account' at the time of admission of a partner?
What is the nature of 'Debenture Redemption Reserve'?
A company forfeited 100 shares of ₹10 each, ₹8 called up, on which ₹5 per share has been paid. What is the maximum amount of discount that can be allowed on reissue of these shares?
What is the formula for calculating 'Super Profit'?
If opening stock is ₹20,000, purchases are ₹1,00,000, sales are ₹1,50,000, and gross profit is ₹50,000, then what is the closing stock?
What is the meaning of 'Liquidity' in financial statement analysis?
Calculate the Current Ratio if Current Assets are ₹2,00,000 and Current Liabilities are ₹1,00,000.
Which accounting standard deals with 'Cash Flow Statements'?
A and B are partners sharing profits and losses in the ratio of 3:2. C is admitted as a partner for 1/4th share. The new profit sharing ratio will be:
What is the primary purpose of preparing a 'Revaluation Account' in partnership accounting?
Which of the following is an example of a 'Reserves and Surplus' item on a company's balance sheet?
What is the formula for calculating 'Gross Profit Ratio'?
A company forfeited 200 shares of ₹10 each, ₹8 called up, on which ₹5 per share had been paid. What is the maximum amount of discount at which these shares can be reissued?
What does 'Debenture' represent?
What is the nature of 'Goodwill'?
Which of the following is NOT a method of calculating depreciation?
What is the primary purpose of preparing a 'Receipts and Payments Account'?
X and Y are partners sharing profits and losses in the ratio of 3:2. Z is admitted as a partner with 1/5 share. What will be the new profit-sharing ratio?
What is the effect on the accounting equation (Assets = Liabilities + Equity) when a company purchases equipment on credit?
What is the journal entry to record depreciation on machinery?
If the cost of goods sold is $60,000 and the sales revenue is $100,000, what is the gross profit?
What is the formula to calculate the Debt-Equity Ratio?
A company forfeited 200 shares of $10 each, on which the shareholder had paid $3 application money. What is the share forfeiture account balance?
Which of the following is a source document for recording transactions?
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How many questions are in this Accountancy test?
This Accountancy test for Class 12 State Board contains 35 questions.
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This test is designed for State Board Class 12 students studying Accountancy.
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