" /> -->

12th Standard Accounts English Medium Free Online Test Creative 1 Mark Questions - Part Two

12th Standard EM

    Reg.No. :
  •  
  •  
  •  
  •  
  •  
  •  

Accountancy

Time : 00:10:00 Hrs
Total Marks : 10

    Answer all the questions

    10 x 1 = 10
  1. Closing capital can be found by preparing a statement affairs at the _____ of the year.

    (a)

    opening

    (b)

    end

    (c)

    centre

    (d)

    none of these

  2. When a fixed amount is withdrawn in the beginning of every month the period calculated for interest on drawings is

    (a)

    \(\frac{11}{24}\)

    (b)

    \(\frac{12}{24}\)

    (c)

    \(\frac{13}{24}\)

    (d)

    \(\frac{10}{24}\)

  3. Average Capital employed Rs. 4,00,000

    Net profit 2011 2,50,000
    2012 1,00,00(Loss)
    2013 4,50,000
    N R R 10%

    Goodwill at 3 years purchase of super profit will be

    (a)

    Rs. 1,80,000

    (b)

    Rs. 90,000

    (c)

    Rs. 1,50,000

    (d)

    Rs. 1,20,000

  4. On admission of a new partner, increase in value of assets is debited to

    (a)

    Asset A/c

    (b)

    Profit & Loss adjustment A/c

    (c)

    Opening Statement of affairs

    (d)

    Cash A/c

  5. Partnership is _________ on the retirement or death of a partner

    (a)

    Dissolved

    (b)

    Agreed

    (c)

    Retired

    (d)

    None of these

  6. The public issue must be kept open for atleast

    (a)

    3 days

    (b)

    5 days

    (c)

    7 days

    (d)

    10 days

  7. _____ needed by the company could be raised by inviting the general public to buy shares and invest in the business.

    (a)

    Money

    (b)

    Cash

    (c)

    Capital

    (d)

    None of these

  8. Interpretation of accounts is the

    (a)

    art and science of translating the figures

    (b)

    to know financial strengths and weakness of a business

    (c)

    to know the causes for the prevailing performance of business

    (d)

    all of the above

  9. All solvency ratios are expressed in term of

    (a)

    Proportion

    (b)

    Time

    (c)

    Money

    (d)

    Percentage

  10. Sales Rs.3,50,000, capital employed Rs.1,75,000. Then the capital turnover ratio is _____________

    (a)

    2 Times

    (b)

    3 Times

    (c)

    5 Times

    (d)

    7 Times

*****************************************

TN 12th Standard EM Accountancy free Online practice tests

Reviews & Comments about 12th Standard Accounts English Medium Free Online Test Creative 1 Mark Questions - Part Two

Write your Comment