List of top Accountancy Questions

Explain the steps to define ‘Print area’ using Dialog box.
“A value or function or an arithmetic expression is recorded in .........”
Which type of software package is suitable for an organization where the volume of accounting transactions is very low and adaptability is very high?
List the points of nomenclature used in Excel for charts/graphs.
Depreciation is generated from which of the following Accounting information system?
To safeguard assets and optimize the use of resources a business ........
From the following information of Ajanta Ltd., calculate ‘Inventory Turnover Ratio’: \[ {Opening Inventory = Rs.19,000, Closing Inventory = Rs.21,000} \] \[ {Purchases = Rs.80,000, Revenue from Operations = Rs.80,000, Wages = Rs.9,000} \] \[ {Carriage Inwards = Rs.4,000, Carriage Outwards = Rs.2,000, Return Outwards = Rs.1,000, Rent Paid = Rs.5,000} \]
Which of the following is not a limitation of computerized accounting system?
Which chart has depth axis?
Under which major heads and sub-heads will the following items be placed in the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, 2013:
(i) Stores and Spares
(ii) Calls-in-Advance
(iii) Income received in advance
When Current Ratio is 4 : 1, Current Assets are Rs.60,000 and Quick Ratio is 2.5 : 1, the amount of ‘Inventory’ will be:
Shyam Sunder Ltd. is a financing company. Under which of the following activity will the amount of ‘Interest paid on loan’ be shown:
Which of the following is not a tool of Analysis of Financial Statements?
Total Assets — Rs.3,00,000
Non-current Assets — Rs.2,60,000
Non-current Liabilities — Rs.80,000
Shareholders' Funds — Rs.2,00,000
Current ratio calculated on the basis of the above information will be:
Which of the following transaction will result in flow of cash?
Mahi, Ruhi, and Ginni are partners in a firm sharing profits and losses in the ratio of 6 : 4 : 1. Mahi guaranteed a profit of Rs.50,000 to Ginni. Net profit for the year ending 31 superscript{st March, 2023, was Rs.1,10,000. Mahi’s share in the profit of the firm after giving the guaranteed amount to Ginni will be:}
Aditi, Sukriti and Niti were partners sharing profits in the ratio of 2 : 2 : 1. Sukriti died on 30 superscript{th June, 2023. Net profit for the year ended 31 superscript{st} March, 2023 was Rs.4,50,000. If the deceased partner’s share of profit is to be calculated on the basis of previous year’s profit, the amount of profit credited to Sukriti’s Capital Account will be:}
Sarita Ltd. forfeited 100 shares of Rs.10 each, Rs.8 called up issued at a premium of Rs.2 per share to Ramesh for non-payment of allotment money of Rs.5 per share (including premium). The first and final call of Rs.2 per share was not made. Out of these 70 shares were reissued to Ashok as Rs.8 called up for Rs.10 per share. The gain on reissue will be:
Amount of interest to be charged on Hitesh’s drawings will be:
Kriti, Hina and Nidhi were partners sharing profits in the ratio of 3 : 2 : 1. Nidhi retired. On the date of her retirement, Workmen Compensation Fund stood in the Balance Sheet at Rs.1,50,000. Workmen Compensation Claim was Rs.1,20,000. How much amount of Workmen Compensation Fund will be credited to Nidhi’s Capital Account?
Rohit, Udit and Mohit were partners in a firm sharing profits in the ratio of 3 : 2 : 1. Mohit retired. The balance in his capital account after making the necessary adjustments on account of reserves and revaluation of assets and liabilities was Rs.1,80,000. Rohit and Udit agreed to pay him Rs.2,00,000 in full settlement of his claim. Mohit’s share of goodwill in the firm was:
If a share of ₹10 issued at a premium of ₹2 per share, on which ₹8 (including premium) has been called and ₹6 (including premium) has been paid by the shareholder, is forfeited, then Share Capital Account will be debited with:

On 1st April, 2022, Mega Ltd. issued 30,000, 10% Debentures of ₹100 each at a discount of 10%. The total amount of interest due on debentures for the year ending 31st March, 2023 will be:} 
 

Manas and Ranvir are partners in a firm having capital balances of ₹1,20,000 and ₹80,000 respectively. Sanju is admitted as a new partner in the firm for a 1/5 share in future profits. Sanju brought ₹1,00,000 as his capital. The goodwill of the firm on Sanju’s admission will be:

On 1st January, 2023, Abhishek, a partner, advanced a loan of ₹ 3,00,000 to the firm. In the absence of a partnership agreement, the amount of interest on the loan for the year ending 31\textsuperscript{st} March, 2023 will be: