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Published on: 06/11/2020
12th Standard Accounts English Medium Free Online Test 1 Mark Questions 2020 - Part Nine
Download Tamil Nadu 12th Standard Accountancy question papers, model tests, one-mark questions, important questions, and public exam papers in PDF format. Free study materials and answer keys for TN State Board students.
Questions + Answers key
Take MCQ Accountancy Test

1.
Retirement / death of a partner will not be dissolution if remaining partners are _________ to continue it.
Dissolution
Optional
Agreed
All of the above
2.
If opening capital is Rs.10,000 & Closing capital is Rs.15,000 then profit or loss _________
Loss of Rs.5,000
Profit of Rs.2,500
Profit of Rs.5,000
None of these
3.
Securities Premium Reserve collected by the company can be used for:
Issue of bonus shares
Payment of dividend
Any business purpose
None of these
4.
A company forfeited 2,000 shares of Rs.10 each (which were issued at par) held by Mr.John for non-payment of allotment money of Rs.4 per share. The called – up value per share was Rs.9. On forfeiture, the amount debited to share capital will be
Rs.10,000
Rs.8,000
Rs.2,000
Rs.18,000
5.
The liability of the share holders are _____ in a company.
limited
unlimited
both 'a' and 'b'
none of these
6.
A technique that is used in comparative analysis of financial statement is ___________
graphical analysis
preference analysis
common size analysis
returning analysis
7.
_____ is a voluntary association of persons.
A company
A business
An organisation
None of these
8.
When the number of shares applied for is more than the number of shares of fered for subscription, it is said to be
under subscription
over subscription
application money
allotment money
9.
___________ intervals refers to withdrawal made monthly, quarterly, half-yearly, once in 2 months and once in 4 months.
Fixed time
Current time
Average time
None of these
10.
The balance of revaluation account shows _______ on revaluation.
Profit
Loss
Profit and loss
None of these
11.
The maximum number of partners in a partnership firm is ________
25
10
30
50
12.
In admission undistributed profit or loss is transferred to _________
New partner's capital A/c only
Old partner's capital A/c only
All the partner's capital accounts
None of these
13.
True financial position cannot be ascertained as _____ is not prepared due to the absence of nominal and real accounts.
Trading accounts
Profit and loss account
Balance sheet
Trail balance
14.
Companies cannot keep books on single entry system because of ________
tax properties
legal provisions
both (a) and (b)
None of these
15.
The company earns a net profit of Rs. 24,000 with a capital of Rs. 1,20,000. The NRR is 10% under capitalisation of super profit goodwill will be ___________
Rs. 70,000
Rs. 24,000
Rs. 12,000
Rs. 1,20,000
16.
The policy amount received from the insurance company is used to settle the amount due to the __________
Increased partner
Deceased partner
Partnership at will
Partnership deed
17.
Subscription received but not yet earned is considered as a /an _____________
Asset
Liability
Income
Expenditure
18.
X, Y and Z were partners sharing profits and losses equally. X died on 1st April 2019. Find out the share of X in the profit of 2019 based on the profit of 2018 which showed Rs. 36,000.
Rs. 1,000
Rs. 3,000
Rs. 12,000
Rs. 36,000
19.
20.
Proportion of share holder's funds to total assets is called
Proprietary ratio
Capital gearing ratio
Debt equity ratio
Current ratio
1.
(c)
Agreed
2.
(c)
Profit of Rs.5,000
3.
(b)
Payment of dividend
4.
(d)
Rs.18,000
5.
(a)
limited
6.
(c)
common size analysis
7.
(a)
A company
8.
(b)
over subscription
9.
(a)
Fixed time
10.
(c)
Profit and loss
11.
(d)
50
12.
(b)
Old partner's capital A/c only
13.
(c)
Balance sheet
14.
(b)
legal provisions
15.
(d)
Rs. 1,20,000
16.
(b)
Deceased partner
17.
(b)
Liability
18.
(b)
Rs. 3,000
19.
(c)
20.
(a)
Proprietary ratio
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Tamilnadu Stateboard 12th Standard Subjects

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Chemistry

Physics

Biology

Computer Science

Business Maths and Statistics

Economics

Commerce

Accountancy

History

Computer Applications

Biology

Computer Technology

Computer Applications

Computer Science

Business Maths and Statistics

Commerce

Economics

Maths

Chemistry

Physics

Computer Technology

History

Accountancy

Tamil

English

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