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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 Two
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.
Calculate the amount of net income or loss if the capital has been increased by Rs. 1,000 during this accounting period drawings Rs. 5,000 and Rs. 1,000 fresh capital was introduced in the business _______
Rs. 5,000 net loss
Rs. 5,000 net profit
Rs. 6,000 net loss
Rs. 6,000 net profit
3.
Undistributed loss will appear on the side of the Balance sheet.
Assets
Liabilities
Both (a) & (b)
None of these
4.
_____ does not form part of the company's share capital and no dividend is payable on such amount.
Under subscription
Over subscription
Calls in advance
None of these
5.
Under fixed capital method salary payable to a partner is recorded ____________
in current account
in capital account
either in current account or capital account
none of these
6.
The amount due to the________partner is either paid off immediately or is paid in instalments.
Admitting
Retiring
Death
All of the above
7.
The old partners share all the accumulated profits and reserve in their ___________
new profit sharing ratio
old profit sharing ratio
capital ratio
sacrificing ratio
8.
Match List I with List II and Select the Correct Answer using the Codes given below.
| List I | List II | ||
| (i) | Incomplete records | 1. | Net worth method |
| (ii) | Single entry system | 2. | Double entry |
| (iii) | Statement of affairs method | 3. | Small traders |
| (iv) | Nominal account | 4. | Incomplete double system |
| (i) | (ii) | (iii) | (iv) |
| 1 | 2 | 3 | 4 |
| (i) | (ii) | (iii) | (iv) |
| 4 | 3 | 1 | 2 |
| (i) | (ii) | (iii) | (iv) |
| 2 | 3 | 1 | 4 |
| (i) | (ii) | (iii) | (iv) |
| 3 | 4 | 1 | 2 |
9.
Super profit is ___________
excess of average profit over normal profit
extra profit earned
average profit earned by similar companies
none of the above
10.
Some organisations are established for the purpose of rending services to the public without __________
any profit motive
any service motive
both
none of these
1.
(c)
Agreed
2.
(b)
Rs. 5,000 net profit
3.
(a)
Assets
4.
(c)
Calls in advance
5.
(a)
in current account
6.
(b)
Retiring
7.
(b)
old profit sharing ratio
8.
(d)
| (i) | (ii) | (iii) | (iv) |
| 3 | 4 | 1 | 2 |
9.
(a)
excess of average profit over normal profit
10.
(a)
any profit motive
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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
