List of practice Questions

What is meant by issue of debentures for consideration other than cash?
What is Comparative Balance Sheet? Mention any three objectives of it.
What do you mean by Revaluation Account? Write reasons for the preparation of 'Revaluation Account' on the admission of a partner.
Give any two examples of non-current assets.
State any two objectives of a cash flow statement.
State any five important points which must be incorporated in a partnership deed.
What is hidden goodwill? How is it adjusted on the admission of a partner?
Clarify the difference between disSolutions of a firm and disSolutions of a partnership.
What is meant by listed company?
What do you mean by participating preference shares?
Classify debentures from the point of view of security.
State any two occasions when reconstitution of a partnership firm takes place.
Write two main rights acquired by the new partner.
State any two items of deduction that may have to be made from the amount payable to a retiring partner.
Write two circumstances under which a partnership firm is dissolved.
Current ratio is used to find:
Which accounting standard is related to cash flow statement?
What is meant by "Unlimited liability of a partner"?
Who are the real owners of a company?
A debenture holder is entitled to:
Which statement provides information about the profitability of the company?
A new partner may be admitted into a partnership:
On retirement of a partner, goodwill will be credited to the capital account of:
On disSolutions of a partnership firm, profit or loss on realization is distributed among the partners:
Which is not an essential element of a partnership firm?