List of top Accountancy Questions

Why does a company forfeit shares?
What is partnership deed?
What is Joint Life Policy?
How is Capital Fund calculated (for a Not-for-Profit Organisation)?
Distinguish between charge against profit and appropriation of profit (any two points).
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}.
State the items which are debited to deceased partner’s Capital Account.
Write the formula of calculating gaining ratio.
What is called accumulated profit?
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.
Differentiate between shares and debentures on any two points.
What do you understand by common size statement?
State two objectives of ratio analysis.
State the conditions for valuation of goodwill.
What is meant by redemption of debentures?
Write any two points of difference between sacrificing ratio and gaining ratio.
What is lumpsum payment method of redemption of debenture?
What is trend analysis?
Premium on redemption of debentures is a:
When and why is realisation account prepared?
Mention two objectives of financial statements.
What is meant by analysis of financial statements?
Why are assets and liabilities revalued on the death of a partner?
Under what circumstances is a partnership firm compulsorily dissolved?
State two objectives of common size statement.