List of practice Questions

When a company reserve a portion of its uncalled capital to be called in the event of winding up, such uncalled capital is known as:-

The process of receiving minimum subscription of 90% of the entire issue must be completed within _____ days from date of issue of prospectus

Identify that will lead to dissolution of partnership

Arrange the following in the context of dissolution of partnership firm.
A. Payment of loan from Partners
B. Payment of secured outsider's liabilities
C. Realisation of assets into cash
D. Settlement of partner's capital
E. Payment of unsecured outsider's liability
Choose the correct answer from the options given below:

Match List I with List II

LIST I		LIST II
A	Horizontal Analysis	I	Common size statement
B	Vertical Analysis	II	Comparative statement
C	External Analysis	III	Access to all published and unpublished information
D	Internal analysis	IV	Access only to published information

Choose the correct answer from the options given below:

Unrecorded assets when taken over by a partner on dissolution are shown in:

Arrange the following in the context of Cash Flow Statement
A. Calculation of cash flow from Operating Activities
B. Calculation of cash flow from Financing Activities
C. Calculations of net increase/decrease in cash and cash equivalent during the year
D. Calculation of cash flow from Investing Activities
E. Calculation of net profit before tax and extraordinary item
Choose the correct answer from the options given below:

Match List I with List II

LIST I		LIST II
A	Employee benefit expenses	I	Investing activity
B	Dividend received	II	Operating activity
C	Loan raised	III	Extraordinary item
D	Proceeds from earthquake disaster management	IV	Financing activity

Choose the correct answer from the options given below:

Particulars	Amount (₹)
Inventory at the beginning	40,000
Credit Purchase	1,60,000
Inventory at the end	38,000
Trade payable at the beginning	14,000
Trade payable at the end	14,500

Cash paid for inventory is:

Identify the way by which the clauses of partnership deed can be altered.

Which of the following option regarding issue and redemption of debenture is not possible in general?

Calculate the Normal Rate of Return if normal profit is ₹30,000, Assets 5,30,000 and liabilities ₹30,000, while calculating the value of goodwill of the firm at the time of admission of a partner. 1. 5.6% 2.6% 3.5.3% 4.5%

A newly admitted partner has the right to -

In the absence of partnership agreement, mutual relations of partners are governed by the ________

Arrange the following in the context of Accounting for partnership.
A. Preparation for Trading and Profit and Loss Account.
B. Calculation of divisble profit or Loss.
C. Preparation of profit and loss Appropriation Account.
D. Preparation of Balance Sheet.
E. Preparation of partner's capital Account.
Choose the correct answer from the given below :

Which of the following is not a charge against profit ?

Capital employed by a Partnership firm is ₹ 5,00,00. Its average profit is Rs. 60,000. The normal rate of return in similar type of business is 10%. The amount of super profits of the firm will be :-

Match List-I with List-II.

List-I	List-II
(A) Apprenticeship Programmes	(I) Stimulates the work environment
(B) Internship Training	(II) Training is conducted away from actual work floor
(C) Vestibule Training	(III) Acquire practical knowledge and skills along with regular studies
(D) Computer Modelling	(IV) Put the trainee under the guidance of a master worker

Choose the correct answer from the options given below:

Arrange the following needs of an individual as per Maslow's Need Hierarchy theory
(A) Status
(B) Hunger
(C) Friendship
(D) Stability of Income
(E) Self Fulfllment
Choose the correct answer from the options given below:

By which function, managers at all levels can ensure that activities are being performed as per the plans?

Which is not the traditional technique of controlling?

Who can not file a complaint before the appropriate consumer forum?

As per Consumer Protection Act 2019, Under which right, consumer get relief against unfair trade practices :-

As per Consumer Protection Act 2019, Under which right, the consumer has the freedom to access variety of products at competitive prices :-

_______refers to a composite of knowledge, skills and host of psychological attributes in a person that mark his/her effectiveness