List of top Accountancy Questions

What is ‘data formatting’? What tools are used to format a given data?

Write the steps to create ‘If’ function using formula tab and dialogue box on a given spreadsheet where the total income less expenses if greater than ₹ 10,000 then 10% savings and if income is less than ₹ 10,000 then 5% savings. Also write the syntax of the result.

From the following, identify a ‘Data label’ as a chart element:

How many logical values can be entered into a logical function?

‘Data, people \_\_\_\_\_\_\_, \_\_\_\_\_\_\_ and software’ are five pillars of a Computerised Accounting System (CAS). Which of the pillars of CAS are missing from the statement?

‘Sales and Accounts Receivable Sub-system’ of Accounting Information System deals with which of the following?

A Null value is a special value which represents:

Which of the following is not an objective of ‘Analysis of Financial Statements’?

The process of comparing input data with some unknown data is called:

'Paid ₹ 5,00,000 to acquire shares in Neligare Industries and received a dividend of ₹ 30,000 after acquisition.' This transaction will result in:

Statement I: Issue of Debentures will result in inflow of cash.
Statement II: Issue of Debentures to the vendors for purchase of machinery will result in outflow of cash.
Choose the correct option from the following:

What will be the effect of ‘Purchase of Marketable Securities for Cash’ on Cash Flow Statement?

Current Ratio of Super Ltd. is 2:1. Which of the following transactions will result in a decrease in this ratio?

The amount of interest on drawings of Nisha would be:

Misha Ltd. issued 6,000, 8% Debentures of ₹100 each at ₹96 per debenture. 8% Debentures Account will be credited by:

If a share of ₹100 on which ₹70 has been paid is forfeited, then at which minimum price can it be re-issued?

Which of the following items cannot be recorded in the capital account of partners if the capital accounts of partners are fixed?

Assertion (A): In a partnership firm, at the time of admission, the new partner brings in an agreed amount of capital either in cash or in kind.
Reason (R): In a partnership firm, at the time of admission, the new partner acquires the right to share the assets and the profits of the partnership firm.
Choose the correct option from the following:

Nominal/Authorised share capital is:

The debentures which do not have a specific charge on the assets of the company are called:

Kishore and Bimal are partners in a firm sharing profits and losses in the ratio of 4:3. Nand is admitted as a new partner in the firm for $\frac{1{4}$ share in the profits. Kishore and Bimal decide to share profits and losses equally in the future. The sacrificing ratio of Kishore and Bimal will be:}

Maharaja Ltd. took over assets of ₹15,00,000 and liabilities of ₹2,00,000 of Dolphin Ltd. for an agreed purchase consideration of ₹12,60,000. It was agreed that the purchase consideration will be paid by issuing 11% Debentures of ₹100 each at 10% discount. The number of debentures issued will be:

Neeru and Meetu are partners in a firm with capitals of ₹ 2,00,000 and ₹ 1,50,000 respectively. If the firm earned a profit of ₹ 17,500 for the year ended 31st March 2023, then interest on capital @ 10% p.a. would be:

At the time of dissolution of a firm, the total assets were ₹ 6,00,000 and outside liabilities were ₹ 2,40,000. If assets realised ₹ 7,20,000 and realisation expenses of ₹ 8,000 were paid, the profit or loss on realisation will be:

Assertion (A): The court does not intervene when dissolution of partnership takes place. Reason (R): Dissolution of partnership takes place by mutual agreement between the partners. Choose the correct option from the following: