List of top Accountancy Questions

What are the objectives of preparing a Cash Flow Statement?

Name any two solvency ratios.

What is Receipts and Payments Account? How is it different from Income and Expenditure Account?

What is Redeemable Debenture?

State the items which are debited to deceased partner’s Capital Account.

X and Y are partners. They share profits and losses in the ratio of \(2:1\). They admit Z by giving him \(\tfrac{1}{4}\) share in future profits. Calculate the new profit-sharing ratio.

X, Y and Z are partners sharing profits in the ratio \(3:2:2\). Z retires. X and Y decide to share future profits in the ratio \(4:3\). Calculate the \emph{gaining ratio}.

What is Joint Life Policy?

What is called accumulated profit?

What is partnership deed?

Write the formula of calculating gaining ratio.

Distinguish between charge against profit and appropriation of profit (any two points).

How is Capital Fund calculated (for a Not-for-Profit Organisation)?

What is lumpsum payment method of redemption of debenture?

State two objectives of ratio analysis.

What is meant by redemption of debentures?

State the conditions for valuation of goodwill.

Differentiate between shares and debentures on any two points.

What is trend analysis?

What do you understand by common size statement?

Write any two points of difference between sacrificing ratio and gaining ratio.

When and why is realisation account prepared?

What is meant by analysis of financial statements?

Under what circumstances is a partnership firm compulsorily dissolved?

Why are assets and liabilities revalued on the death of a partner?