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Published on: 06/11/2020
12th Standard Accounts English Medium Free Online Test Creative One Mark Questions with Answer Key - Part Three
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.
A firm has liabilities is Rs. 50,000 and Capital is Rs. 25,000. Then its assets is ______________
Rs. 1,00,000
Rs. 25,000
Rs. 50,000
Rs. 75,000
2.
Securities premium account is shown on the liabilities side of the balance sheet under the head:
Share capital
Reserves and Surplus
Current liabilities
None of them
3.
Operating ratio is equal to __________
100 - Operating profit ratio
100 + Operating profit ratio
Operating cost
None of these
4.
Second installment called _______
first call money
allotment money
final call money
application money
5.
Product method can be used in all situations as an alternative to ____________
average period
direct method
both 'a' and 'b'
none of these
6.
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
7.
_____ is a statement showing the balances of assets and liabilities on a particular date.
Statement of affairs
Trading account
Profit and loss account
Balance sheet
8.
Rate of interest is 11% and the rate of risk is 9% The normal rate of return is __________
11%
9%
20%
2%
9.
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
10.
The receipts and payments account of a nonprofit organisation is a __________
Nominal account
Real account
Income statement account
Financial statement
1.
(d)
Rs. 75,000
2.
(b)
Reserves and Surplus
3.
(a)
100 - Operating profit ratio
4.
(b)
allotment money
5.
(b)
direct method
6.
(b)
Old partner's capital A/c only
7.
(a)
Statement of affairs
8.
(c)
20%
9.
(b)
Deceased partner
10.
(b)
Real account
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Tamilnadu Stateboard 12th Standard Subjects

Maths

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

French
Tamilnadu Stateboard Standards