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Published on: 25/10/2025
Download CBSE Class 12th Standard CBSE Accountancy question papers, sample papers, important questions, and previous year solved papers in PDF format. Get free study materials, NCERT solutions, and exam preparation resources for Class 12th Standard CBSE Accountancy
Questions + Answers key
Take MCQ Accountancy Test
1.
A company forfeited 800 equity shares of Rs.10 each issued at a discount of 10% for non-payment of first and final calls of Rs.2 each. Calculate the amount forfeited by the company and pass the journal entry for forefeiture of the shares.
2.
From the following information, calculate inventory turnover ratio:
| Particulars | Rs. |
|---|---|
| Revenue from operations | =4,00,000 |
| Average Inventory | =55,000 |
| Gross Profit Ratio | =10% |
3.
Prepare balance sheet of the company as per Schedule III of the Companies Act, 2013.
| Particulars | Amt(Rs.) |
|---|---|
| 10% Debentures of Rs.100 each | 3,80,000 |
| Stock-in-trade (Inventories | 80,000 |
| Goodwill | 40,000 |
| Provision for Tax | 12,000 |
Totalling of balance sheet is not required.
4.
From the following information for the year ended 31st March, 2018, prepare notes to accounts on finance costs.
| Particulars | Amt(Rs.) |
|---|---|
| Interest paid on Cash Credit | 1,10,000 |
| Interest paid on Debentures | 1,75,000 |
| Commitment Charges | 10,000 |
| Bank Charges | 2,250 |
| Interest paid on Public Deposits | 40,000 |
| Comrnisslon p<l.id for Deposit Mobilisation | 8,000 |
5.
A Ltd purchased the business of B Ltd for Rs 90,000. Payment was made by issue of equity shares of Rs 10 each. What journal entries will be made when shares are issued at 20% premium?
6.
From the following statements of Profit nand Loss of Suntrack Ltd., for the years ended 31st March 2011 and 2012, prepare a comparative statement of Profit & loss'.
Particulars |
Note No. | 2011-12 |
2010-11 |
|---|---|---|---|
|
Revenue from Operations |
60,00,000 |
36,00,000 |
|
|
Other Income |
36,00,000 |
27,00,000 |
|
| Expenses | 29,00,000 | 26,00,000 |
7.
Under which major sub-headings the following items will be placed in the Balance Sheet of a company as per Schedule III Part I of the Companies Act 2013:
(i)Long term Borrowings
(ii)Trade Payables
(iii)Provision or Tax
(iv)Securities Premium Reserve
(v)Patents
(vi)Accrued Incomes
8.
A business has a current ratio of 3:1 and quick ratio of 1:2:1. If the working capital is Rs.1,80,000, calculate the total current assets and value of inventory.
9.
J Ltd.purchased machinery of Rs.5,00,000 from K Ltd. J Ltd. paid Rs.40,000 in case and the balance amount by issuing equity shares of Rs.100 each at a premium of Rs.25 per share in favour of K Ltd.
Showing your working notes clearly, pass necessary Journal Entries for the above transactions in the books of J Ltd.
10.
From the following statement of profitand loss of Fenox Ltd for the year ended 31st March, 2013, prepare a comparative statement of profit and loss.
| Particulars | 31st March, 2012-13(Rs.) | 31st March, 2011-12(Rs.) |
| Revenue from Operations | 8,00,000 | 6,00,000 |
| Other Incomes | 1,00,000 | 50,000 |
| Expenses | 5,00,000 | 4,00,000 |
Rate of income tax was 40%
11.
Fim the following information, prepare a comparative statement of profit and loss
| Particulars | 31st March, 2017(Rs.) | 31st March, 2016(Rs.) |
| Revenue from Operations | 24,00,000 | 18,00,000 |
| Other Incomes (% of Revenue from Operations) | 15% | 25% |
| Expenses (% of Revenue from Operations) | 60% | 50% |
| Tax Rate | 40% | 40% |
12.
On April 01, 2019, a limited company was incorporated with an authorised capital of Rs. 40,000 divided into shares of Rs. 10 each. It offered to the public for subscription of 3,000 shares payable as follows:
| On Application | Rs. 3 per share |
| On Allotment | Rs. 2 per share |
| On First Call (One month after allotment) | Rs. 2.50 per share |
| On Second and Final Call | Rs. 2.50 per share |
The shares were fully subscribed for by the public and application money duly received on April 15, 2019. The directors made the allotment on May 1, 2015.
How will you record the share capital transactions in the books of a company if the amounts due have been duly received, and the company maintains the combined account for application and allotment.
13.
Calculate following ratios from the following information:
(i) Current ratio (ii) Liquid ratio (iii) Operating Ratio (iv) Gross profit ratio
| Current Assets | Rs. 35,000 |
| Current Liabilities | Rs. 17,500 |
| Inventory | Rs. 15,000 |
| Operating Expenses | Rs. 20,000 |
| Revenue from Operations | Rs. 60,000 |
| Cost of Revenue from operation | Rs. 30,000 |
14.
Gross profit ratio of a company was 25%. Its credit revenue from operations was Rs.20,00,000 and its cash revenue from operations was 10% of the total revenue from operations. If the indirect expenses of the company were Rs. 50,000, calculate its net profit ratio.
15.
Show the following items in the balance sheet as per the provisions of the Companies Act, 2013 in Schedule III:
| Particulars | (Rs.) | Particulars | (Rs) |
|---|---|---|---|
| Preliminary Expenses | 2,40,000 | Good will | 30,000 |
| Discount on issue of shares | 20,000 | Loose tools | 12,000 |
| 10% Debentures | 2,00,000 | Motor Vehicles | 4,75,000 |
| Stock in Trade | 1,40,000 | Provision for tax | 16,000 |
| Cash at bank | 1,35,000 | ||
| Bills receivable | 1,20,000 |
16.
Convert the following statement of profit and loss of BCR Co. Ltd. into the comparative statement of profit and loss of BCR Co. Ltd.:
| Particulars | Note No | 2015-16(Rs.) | 2016-17(Rs.) |
|---|---|---|---|
| (i) Revenue from operations | 60,00,000 | 75,00,000 | |
| (ii) Other incomes | 1,50,000 | 1,20,000 | |
| (iii) Expenses | 44,00,000 | 50,60,000 | |
| (iv) Income tax | 35% | 40% |
17.
Cronic Limited issued 10,000 equity shares of Rs. 10 each payable at Rs. 2.50 on application, Rs. 3 on allotment, Rs. 2 on first call, and the balance of Rs. 2.50 on second and final call. All the shares were fully subscribed and paid except of a shareholder having 100 shares who could not pay for second and final call. Give journal entries to record these transactions.
18.
Which of the following statement is/are true?
(i) Authorised Capital < Issued Capital
(ii) Authorised Capital ≥ Issued Capital
(iii) Subscribed Capital ≤ Issued Capital
(iv) Subscribed Capital > Issued Capital
Only (i)
Both (i) and (iv)
Both (ii) and (iii)
Only (ii)
19.
Uncalled capital is that portion of the _____ which has not yet been called up and the portion of such uncalled capital to be called only in the event of winding up of the company is called____.
subscribed capital; reserve capital
issued capital; reserve capital
authorised capital; capital reserve
registered capital; capital reserve
20.
The company has to get minimum subscription within _____ from the date of issue of the prospectus. When minimum subscription has been received, the directors of the company proceed to make ____ which implies a valid contract between the company and the applicants who now become the allottees and assume the status of shareholders or members.
120 days, allotment of shares
130 days, application of shares
14 days, allotment of shares
15 days, allotment of shares
21.
Nominal share capital is
that part of authorised capital which is issued by the company.
the amount of capital which is actually applied for by the prospective shareholders.
the maximum amount of share capital which a company is authorised to issue.
the amount actually paid by the shareholders.
22.
Part of the uncalled share capital that can be called up only at the time of winding up of the company is called
issued capital
paid-up capital
reserve capital
un-issued capital
23.
That portion of the called-up capital which has been actually received from the shareholders is called
paid-up capital
reserve capital
called-up capital
subscribed capital
24.
That part of the authorised capital which is actually issued to the public for subscription is called
subscribed capital
issued capital
authorised capital
reserve capital
25.
Assertion (A) : A company is registered with an authorised capital of ₹5,00,000 equity shares of ₹10 each of which ₹2,00,000 equity shares were issued and subscribed. All the money had been called up except ₹2 per share which was declared as 'reserve capital'. The share capital reflected in balance sheet as 'subscribed and fully paid up' will be zero.
Reason (R) : Reserve capital can be called up only at the time of winding up of the company.
Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)
Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A)
Assertion (A) is false, but Reason (R) is true
Assertion (A) is true, but Reason (R) is false
26.
'Public Deposits' appear in the company's balance sheet under the head/sub-head
intangible assets
current liabilities
shareholders' funds
non-current liabilities
27.
Assertion (A) : The focus of calculation of working capital revolves around managing the operating cycle of the business.
Reason (R) : It is because the concept of operating cycle is required to ascertain the liquidity of assets and urgency of payments to liabilities.
Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A)
Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)
Both Assertion (A) and Reason (R) are false
Assertion (A) is false, but Reason (R) is true
28.
Match the items given in Column I with the correct heading/sub-heading given in Column II.
| Column I | Column II |
| A. 9% Debenture redeemable during the current year | (i) Intangible assets |
| B. Loose tools | (ii) Current liabilities |
| C. Copyright | (iii) Cash and cash equivalents |
| D. Cash at bank | (iv) Inventories |
| A | B | C | D |
| (i) | (ii) | (iii) | (iv) |
| A | B | C | D |
| (iii) | (ii) | (iv) | (i) |
| A | B | C | D |
| (iv) | (iii) | (ii) | (i) |
| A | B | C | D |
| (ii) | (iv) | (i) | (iii) |
29.
Which of the following are the tools of vertical analysis?
(i) Ratio analysis
(ii) Comparative statements
(iii) Common size statements
Only (iii)
Both (i) and (iii)
Both (i) and (ii)
Only (i)
30.
Which of the following statements are false?
(i) When all the comparative figures in a balance sheet are stated as percentage of the total, it is termed as horizontal analysis.
(ii) When financial statements of several years are analysed, it is termed as vertical analysis.
(iii) Vertical analysis is also termed as time series analysis.
(i) and (ii)
(i) and (iii)
(ii) and (iii)
All of these
31.
The two basic measures of operational effieiency of a company are
Inventory Turnover Ratio and Working Capital Turnover Ratio
Liquid Ratio and Operating Ratio
Liquid Ratio and Current Ratio
Gross Profit Margin and Net Profit Margin
32.
Quick assets do not include
cash in hand
marketable securities
prepaid expenses
trade receivables
33.
If total sales is ₹2,50,000 and credit sales is 25% of cash sales. The amount of credit sales is
₹ 50,000
₹ 2,50,000
₹ 16,000
₹ 3,00,000
34.
From the following information, calculate inventory turnover ratio.
Revenue from operations =₹ 2,00,000; Average inventory = ₹ 20,000 ; Gross profit ratio =10 %
9 times
10 times
12 times
20 times
35.
The________ may indicate that the firm is experiencing stock outs and lost sales.
average payment period
inventroy turnover ratio
average collection period
quick ratio
36.
Equity shareholders are
creditors
owners
customers of the company
None of the above
37.
Singh who was allotted 200 equity share of Rs.20 each by a company, failed to pay Rs. 8 each on final call. Shares were re-issued to Kumar at Rs. 20 each. What will be the journal entry on re-issue?
| Bank A/c | Dr | 4,000 | |
| To Equity Share Capital A/c | 4,000 | ||
| Equity Share Capital A/c | Dr | 4,000 | |
| To Bank A/c | 4,000 |
| Bank A/c | Dr | 4,000 | |
| To Share Forfeiture A/c | 4,000 |
| Share Forfeiture A/c | Dr | 4,000 | |
| To Bank A/c | 4,000 |
1.
| Date | Particulars | LF | Amt. (Dr) | Amt. (Cr) | |
|---|---|---|---|---|---|
| Share Capital A/c (800 x 10) To Calls-in-Arrears A/c (800 x 4) To Discount on Issue A/c (800 x 1) To Share Forfeiture A/c (800 x 5) (Being 800 shares forfeited for non payment of first and final calls of Rs 2 each issued at discount 10%) |
Dr |
8,000 |
3,200 800 4,000 |
2.
Revenue from operations = Rs. 4,00,000
Gross Profit = 10% of Rs. 4,00,000 = Rs. 40,000
Cost of Revenue from operations = Revenue from operations – Gross Profit
= Rs. 4,00,000 – Rs. 40,000 = Rs. 3,60,000
\(\text { Inventory Turnover Ratio }=\frac{\text { Cost of Revenue from Operations }}{\text { Average Inventory }}\)
\(=\frac{\text { Rs. } 3,60,000}{\text { Rs. } 55,000}=6.55 \text { times }\)
3.
Long-term borr,pwings (10% Debentures) = Rs.3,80,000, Short-term provisions (Provisions for tax)
= Rs.12,000; Fixed assets: Intangible assets (Goodwill) = Rs.40,000; Current assets (Inventories) = Rs.80,000
4.
Finance costs = Rs.3,43,000 (Interest exp)
= Rs.3,25,000, Plus other borrowingcosts
= Rs.18,000)
5.
Number of shares issued = 7,500 shares
6.
Percentage : Revenue from Operations 66.67%, Other Income 33.33% Expenses 11.54%,Profit Tax before 81.08%.
7.
(i)Non-current Liabilities
(ii)Current Liabilities
(iii)Current Liabilities
(iv)Shareholders' fund
(v)Non-current Assets
(vi)Current Assets
8.
Current Assets Rs.2,70,000 (i.e., Rs.90,000); Value of inventiry Rs.1,62,000 (i.e., 2,70,000 - Rs.1,08,000)
Hints: (i) Current Liabilities = Rs.90,000 (i.e. Rs. \(1,80,000\div 2\) )
(ii) Liquid Assets Rs.1,08,000 (i.e. Rs.90,000X 1.2)
9.
(i) Dr. Machinery, Cr.K Ltd. by Rs.5,00,000
(ii) Dr.K Ltd., Cr. Cash by Rs.40, 000
(iii) Dr. K Ltd. Rs.4,60,000, Cr.Equity Share Capital Rs.3,68,000 and Securities Premium Reserve Rs.92.000.
[Hint: No.of shares issued =Rs.4,60,000\(\div \)Rs.125=3,680 shares].
10.
Comparative Statement of Profit and Loss for the year ended 31st March,2013
| Particulars | 2011-12 (Rs.) | 2012-13(Rs.) | Absolute Change (lncrease or Decrease)(Rs) | Percentage Change(lncrease or Decrease) (%) |
| I.Revenue from Operations | 6,00,000 | 8,00,000 | 2,00,000 | 33.33% |
| II. Other Incomes | 50,000 | 1,00,000 | 50,000 | 100% |
| III. Total Revenue (I + II) | 6,50,000 | 9,00,000 | 2,50,000 | 38.46% |
| IV. Expenses | 4,00,000 | 5,00,000 | 1,00,000 | 25% |
| V. Profit before Tax (lII –IV) | 2,50,000 | 4,00,000 | 1,50,000 | 60% |
| (–) Tax @ 40% | (1,00,000) | (1,60,000) | (60,000) | (60%) |
| V. Profit after Tax | 1,50,000 | 2,40,000 | 90,000 | 60% |
11.
Comparative Statement of Profit and Loss for the year ending 31st March, 2016 and 2017
| Particulars | 31st March 2016(Rs.) | 31st March 2017 (Rs.) | Absolute Increase/ Decrease (Rs) | Percentage Increase/ Decrease (%) |
| I.Revenue from Operations | 18,00,000 | 24,00,000 | 6,00,000 | 33.33 |
| II.Other Income | 4,50,000 | 3,60,000 | (90,000) | (20) |
| III. Total Revenue (l + Il) | 22,50,000 | 27,60,000 | 5,10,000 | 22.67 |
| IV. Expenses | (9,00,000) | (14,40,000) | (5,40,000) | 60 |
| V. Profit before Tax | 13,50,000 | 13,20,000 | (30,000) | (2.22) |
| (-) Tax (40%) | (5,40,000) | (5,28,000) | (12,000) | (2.22) |
| VI. Profit after Tax | 8,10,000 | 7,92,000 | (18,000) | (2.22) |
12.
| Date | Particulars | L.F. | Amount Dr. (Rs) | Amount Cr. (Rs) | |
|---|---|---|---|---|---|
| 2019 April 15 | Bank A/c | Dr. | 9,000 | - | |
| To Share application and allotment A/c | - | 9,000 | |||
| (Being application money received on shares) | |||||
| April 15 | Share application and allotment A/c | Dr. | 15,000 | - | |
| To Share capital A/c | - | 15,000 | |||
| (Being money transferred to share capital) | |||||
| May 1 | Share application add allotment A/c | Dr. | 60,000 | - | |
| To Share Capital A/c | - | 60,000 | |||
| (Being allotment money due) | |||||
| May 1 | Bank A/c | Dr. | 6,000 | - | |
| To Share application and allotment A/c | - | 6,000 | |||
| (Being allotment money received) | |||||
| June 1 | Share first call A/c | Dr. | 7,500 | - | |
| To Share capital A/c | - | 7,500 | |||
| (Being share first call money due) | |||||
| June 1 | Bank A/c | Dr. | 7,500 | - | |
| To Share first call A/c | - | 7,500 | |||
| (Being first call money received) | |||||
| June 1 | Share second call A/c | Dr. | 7,500 | ||
| To Share capital A/c | - | 7,500 | |||
| (Being second call money due) | |||||
| June 1 | Bank A/c | Dr. | 7,500 | - | |
| To Share second call A/c | - | 7,500 | |||
| (Being second call money received) |
13.
(i) \(\text { Current Ratio }=\frac{\text { Current Assets }}{\text { Current Liabilities }}\)
\(\text { Current Ratio }=\frac{35,000}{17,500}=2: 1\)
(ii) \(\text { Acid Test Ratio }=\frac{\text { Liquid Assets }}{\text { Current Liabilities }}\)
Liquid Assets = Current Assets - Inventory
= 35,000-15,000
= 20,000
\(\text { Acid Test Ratio }=\frac{20,000}{17,500}=\frac{1.143}{1}=1.143: 1\)
(iii)
\(\text { Operating Ratio }=\frac{\text { (Cost of Goods Sold }+\text { Operating Expenses) }}{\text { Net Revenue from Operations }} \times 100\)
\(=\frac{(30,000+20,000)}{60,000} \times 100\)
= \(\frac{50,000}{60,000} \times 100=83.33 \%\)
(iv)
\(\text { Gross Profit Ratio }=\frac{\text { Gross Profit }}{\text { Net Revenue from Operations }} \times 100\)
Gross Profit = Net Revenue from Operations - Cost of Goods sold
= 60,000 - 30,000
\(\text { Gross Profit Ratio }=\frac{30,000}{60,000} \times 100=50 \%\)
14.
Cash Revenue from Operations = Rs.20,00,000 × 10/90
= Rs.2,22,222
= Rs.22,22,222
= Rs. 5,55,555
Net profit = Rs.5,55,555 – 50,000
= Rs.5,05,555
Net profit ratio = Net profit/Revenue from Operations× 100
= Rs.5,05,555/Rs.22,22,222 × 100
= 22.75%.
15.
| Particulars | Note No. | Amount (Rs.) |
|---|---|---|
| I. Equity and Liabilities | ||
| 1. Shareholders’ Funds | ||
| a. Share Capital | ||
| b. Reserves and Surplus | ||
| 2. Non-Current Liabilities | ||
| a.Long-term Borrowings | 1 | 2,00,000 |
| 3. Current Liabilities | ||
| a.Other Current Liabilities | ||
| b. Short-term Provisions | 2 | 16,000 |
| II. Assets | ||
| 1. Non-Current Assets | ||
| a.Fixed Assets | ||
| i. Tangible Assets | 3 | 4,75,000 |
| ii. Intangible Assets | 4 | 30,000 |
| b. Non-Current Investments | ||
| 2. Current Assets | ||
| a.Inventories | 5 | 1,52,000 |
| b. Trade Receivables | 6 | 1,20,000 |
| c.Cash and Cash Equivalents | 7 | 1,35,000 |
| d. Other Current Assets | 8 | 2,60,000 |
Notes to Accounts
| Particulars | Amount (Rs.) |
|
|---|---|---|
| 1. Long Term Borrowings | ||
| 10% Debentures | 2,00,000 | |
| 2. Short Term Provisions | ||
| Provision for Tax | 16,000 | |
| 3. Tangible Assets | ||
| Motor Vehicles | 4,75,000 | |
| 4. Intangible Assets | ||
| Goodwill | 30,000 | |
| 5. Inventory | ||
| Loose Tools | 12,000 | |
| Stock | 1,40,000 | 1,52,000 |
| 6. Trade Receivables | ||
| Bill Receivable | 1,20,000 | |
| 7. Cash and Cash equivalents | ||
| Cash at Bank | 1,35,000 | |
| 8. Other Current Assets | ||
| Preliminary Expenses | 2,40,000 | |
| Discount on Issue of Shares | 20,000 | 2,60,000 |
| 2,60,000 | ||
16.
Comparative statement of profit and loss of BCR Co. Ltd. for the year ended March 31, 2016 and 2017:
| Particulars | 2015-16 | 2016-17 | Absolute Increase (+) or Decrease (–) |
Percentage Increase (+) or Decrease (–) |
|---|---|---|---|---|
| (Rs.) | (Rs.) | (Rs.) | % | |
| I. Revenue from operations | 60,00,000 | 75,00,000 | 15,00,000 | 25.00 |
| II. Add: Other incomes | 1,50,000 | 1,20,000 | 30,000 | 20.00 |
| III. Total Revenue I+II | 61,50,000 | 76,20,000 | 14,70,000 | 23.90 |
| IV. Less: Expenses | 44,00,00 | 50,60,000 | 6,60,000 | 15.00 |
| Profit before tax | 17,50,000 | 25,60,000 | 8,10,000 | 46.29 |
| V. Less: Tax | 6,12,50 | 10,24,000 | 4,11,500 | 67.18 |
| Profit after tax | 11,37,500 | 15,36,000 | 3,98,500 | 35.03 |
17.
Books of Cronic Limited
Journal
| Date | Particulars | LF | Amt(Dr) | Amt(Cr) | |
|---|---|---|---|---|---|
| Bank A/c | Dr | 25,000 | |||
| To Equity Share Application A/c | 25,000 | ||||
| (Being money received on application for 10,000 shares @ Rs 2.50 per share) | |||||
| Equity Share Application A/c | Dr | 25,000 | |||
| To Equity Share Capital A/c | 25,000 | ||||
| (Being transfer of application money on 10,000 shares to share capital) | |||||
| Equity Share Allotment A/c | Dr | 30,000 | |||
| To Equity Share Capital A/c | 30,000 | ||||
| (Being amount due on the allotment of 10,000 shares @ Rs 3 per share) | |||||
| Bakn A/c | Dr | 30,000 | |||
| To Equity Share Allotmant A/c | 30,000 | ||||
| (Being allotment money received) | |||||
| Equity Share First Call A/c | Dr | 20,000 | |||
| To Equity Share Capital A/c | 20,000 | ||||
| (Being first call money due on 10,000 shares @ Rs 2 per share) | |||||
| Bank A/c | Dr | 20,000 | |||
| To Equity Share First Call A/c | 20,000 | ||||
| (Being first call money received) | |||||
| Equity Share Second Capital A/c | Dr | 25,000 | |||
| To Equity Share Second Capital A/c | 25,000 | ||||
| (Being final call money due) | |||||
| Bank A/c | Dr | 24,750 | |||
| Calls-in-arrears A/c | Dr | 250 | |||
| To Equity Share Second and Final Call A/c | 25,000 | ||||
| (Being final call money received except that of shares) | |||||
18.
(c)
Both (ii) and (iii)
19.
(a)
subscribed capital; reserve capital
20.
(a)
120 days, allotment of shares
21.
(c)
the maximum amount of share capital which a company is authorised to issue.
22.
(c)
reserve capital
23.
(a)
paid-up capital
24.
(b)
issued capital
25.
(a)
Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)
26.
(d)
non-current liabilities
27.
(b)
Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)
28.
(d)
| A | B | C | D |
| (ii) | (iv) | (i) | (iii) |
29.
(b)
Both (i) and (iii)
30.
(d)
All of these
31.
(a)
Inventory Turnover Ratio and Working Capital Turnover Ratio
32.
(c)
prepaid expenses
33.
(a)
₹ 50,000
34.
(a)
9 times
35.
(c)
average collection period
36.
(b)
owners
37.
(a)
| Bank A/c | Dr | 4,000 | |
| To Equity Share Capital A/c | 4,000 | ||
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Assertion and Reason
Important Questions And Answers
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