New ! Accountancy MCQ Practise Tests

Sample 3 Mark Creative Questions (New Syllabus) 2020

12th Standard

    Reg.No. :


Time : 00:30:00 Hrs
Total Marks : 21

    Part A

    7 x 3 = 21
  1. Radhika started a small bakery for providing healthy and good quality bakery product at reasonable prices on 1st January, 2019 with a capital of Rs.1,80,000. She appointed a ten year old boy as a sweeper. She withdrew Rs.60,000 for household expenses. She introduced Rs.20,000as fresh capital. Her position of assets and liabilities as at 31st December, 2019 stood as follows.

    Cash in hand 70,000
    Stock 80,000
    Bills receivable 1,00,000
    Debtors 1,50,000
    Creditors 60,000
    Bills payable 10,000
  2. Youth of India sports club decided to donate ~ 50,000 and spread awareness among the people of nearby societies about cleanliness in the country under the programme "Bharat Abhiyan". Identify the values highlighted.

  3. What is Fluctuating capital method?

  4. How is goodwill calculated under the weighted average profit method?

  5. Explains the divisions of share capital.

  6. Briefly explain any three limitations of financial statement analysis. S. A

  7. Write a short note on
    (i) Proprietary ratio
    (ii) Capital gearing ratio


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