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12th Standard Accounts English Medium Free Online Test Book Back 1 Mark Questions with Answer Key - Part Three

Published on: 06/11/2020

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

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Std: 12th Standard - Accountancy

chapter: - Model Question paper

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Questions:

Multiple Choice Question

10 x 1 = 10

Select the odd one out

(a)

Revaluation profit

(b)

Accumulated loss

(c)

Goodwill brought by new partner

(d)

Investment fluctuation fund

A, B and C are partners sharing profits in the ratio of 2:2:1. On retirement of B, goodwill of the firm was valued as Rs. 30,000. Find the contribution of A and C to compensate B:

(a)

Rs. 20,000 and Rs. 10,000

(b)

Rs. 8,000 and Rs. 4,000

(c)

Rs. 10,000 and Rs. 20,000

(d)

Rs. 15,000 and Rs. 15,000

The term ‘fund’ refers to

(a)

Current liabilities

(b)

Working capital

(c)

Fixed assets

(d)

Non-current assets

Match the pair and identify the correct option

(1) Under subscription	(i) Amount prepaid for calls
(2) Over subscription	(ii) Subscription above the offered shares
(3) Calls in arrear	(iii) Subscription below the offered shares
(4) Calls in advance	(iv) Amount unpaid on calls

(a)

(1)	(2)	(3)	(4)
(i)	(ii)	(iv)	(iv)

(b)

(1)	(2)	(3)	(4)
(iv)	(iii)	(ii)	(i)

(c)

(1)	(2)	(3)	(4)
(iii)	(ii)	(iv)	(i)

(d)

(1)	(2)	(3)	(4)
(iii)	(iv)	(i)	(ii)

In which voucher type credit purchase of furniture is recorded in Tally

(a)

Receipt voucher

(b)

Journal voucher

(c)

Purchase voucher

(d)

Payment voucher

Which is not the default group in Tally?

(a)

Suspense account

(b)

Outstanding expense

(c)

Sales account

(d)

Investments

When the average profit is Rs. 25,000 and the normal profit is Rs. 15,000, super profit is __________

(a)

Rs. 25,000

(b)

Rs. 5,000

(c)

Rs. 10,000

(d)

Rs. 15,000

When a partner withdraws regularly a fixed sum of money at the middle of every month, period for which interest is to be calculated on the drawings on an average is

(a)

5.5 months

(b)

6 months

(c)

12 months

(d)

6.5 months

Which of the following should not be recorded in the income and expenditure account?

(a)

Sale of old news papers

(b)