List of top Accountancy Questions

Calculate the amount of yearly interest payable on 9% debentures (10,000 debentures of ₹100) issued as collateral security.
If the net profit earned during the year is ₹ 1,00,000 and the amount of Bills receivables in the beginning and the end of the year is ₹ 20,000 and ₹ 40,000 respectively, then cash flow from operating activities will be:
Sale of copy rights are considered as a part of
Romi Ltd. purchased building worth ₹1,50,000 machinery worth ₹1,40,000 and furniture worth ₹10,000 from xyz co. and took over its liabilities of ₹20,000 for a purchase consideration of ₹3.15,000. They paid the purchase consideration by issuing 12% debentures of ₹100 each at a premium of 5%. What will be the number of debentures issued by Romi Ltd.
What are different types of debentures from the view point of registration
A. Convertible
B. Bearer 
C. Redeemable 
D. Secured 
E. Registered
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Identify the steps in preparation of final accounts of not for profit organization (NPO)
A. Prepare Balance Sheet of NPO 
B. Prepare Income and Expenditure Account from Receipts and payment Account 
C. Prepare Receipts and payment Account 
D. Adjust outstanding/prepaid expenditure/Income and determine surplus/ Deficit E. Prepare cash book 
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Match List I with List II in context g cashflow statement
LIST I: Major Head  LIST II: Sub Head 
(A)Sale of fixed asset(I)Outflow in operating Activities.
(B)Purchase of Goodwill(II)Inflow in Investing Activities
(C)Tax Paid(III)Outflow in Investing Activities
(D)Dividend Paid(IV)Outflow in Financing Activities
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Identify the limitations of financial statements:
A. Can be biased 
B. Report on stewardship function 
C. Aggregate information 
D. Only interim reports 
E. Basis of fiscal policies 
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What are the different types of liquidity ratios
A. Interest coverage ratio 
B. Current ratio 
C. Inventory turnover ratio 
D. Gross profit ratio 
E. Acid test ratio 
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Identify the components of equity:
A. Money received against share warrants 
B. Working capital 
C. Share capital 
D. Reserves & surplus 
E. Cash Revenue from operations 
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At the time of admission of partner if goodwill exist in the books of account it will be written off among:
What are the internal controls designed to do?
While preparing common-size Balance sheet, each item of Balance sheet is expressed as % of
On retirement of a partner, the retiring partner's capital account will be credited with ______
Rani, Sandhya and Kangana are partners sharing profits in the ratio of 4:3:2 Rani retires. Sandhya and Kangana decided to share profits in future in the ratio of 5:3. Gaining ratio of Sandhya and Kangana will be
When the total amount withdrawn is given but the date of withdrawal is not given then interest on drawings is charged for a period of:
Which of the following arguments in a financial function represents the total number of payments
It is the amount-paid to the person who is not the regular employee of the institution.
How many blank worksheets are shown when a new workbook is created.
The term field' as applied to database table means.
Securities premium Reserve can be utilised
A. to return excess money received on application
B. to write off preliminary expenses 
C. to issue partly paid bonus shares 
D. for premium paid on Redemption of Debentures or preference shares 
E. for buy back of shares 
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When debentures are issued at premium with the term of redeeming them at par. The amount of premium received at the time of issue will be:
Reeha, Meenu, and Sara were partners in a partnership firm sharing profits and losses in the ratio of 2:2:1. With effect from 1\textsuperscript{st April, 2023, they agreed to share profits and losses equally. On that date, there was a General Reserve of \rupee50,000 in the books of the firm. It was agreed that:} Goodwill of the firm be valued at \rupee3,00,000. Profit on revaluation of assets and re-assessment of liabilities amounted to \rupee30,000. Pass necessary journal entries for the above transactions in the books of the firm.
Atul and Gita were partners in a firm sharing profits and losses in the ratio of 3:2. Their fixed capitals were \rupee4,00,000 and \rupee2,00,000, respectively. After the accounts for the year were prepared, it was noticed that interest on capital @ 6\% p.a., as provided in the partnership deed, was not credited to the capital accounts of partners before distribution of profits. Pass the necessary adjusting Journal Entry. Show your workings clearly.
Kanha, Resham, and Nisha were partners in a firm. Nisha had given a loan of \rupee 1,00,000 to the firm @ 10\% p.a. The accountant of the firm is emphasizing that interest on loan will be paid @ 6\% p.a. At what rate the interest on loan will be paid to Nisha?