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Published on: 06/11/2020
12th Standard Accounts English Medium Free Online Test One Mark Questions with Answer Key 2020 - Part Five
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.
Interest on calls in advance is ________________
4% p.a.
5% p.a.
6% p.a.
7% p.a.
2.
Penalty for delay in refunding application money ___________________
6%
5%
15%
20%
3.
When the concept of ratio is defined in respected to the items shown in the financial statements, it is termed as _____________
Accounting Ratio
Financial Ratio
Costing Ratio
None of these
4.
The relationship between sales and capital employed is known as ______________
Capital Turnover Ratio
Current Ratio
Stock Turnover Ratio
Solvency Ratio
5.
Absolute liquid asset mean ________________
Cash, Bank, and Short term investments
Cash, Bank and Stock
Cash, Bank, Stock, and Prepaid Expenses
None of these
6.
Total sales of a business is Rs. 8,75,0000. If cash sales is Rs.3,75,000, then credit sales will be _____________
Rs.12,25,000
Rs.5,00,000
Rs.12,00,000
Rs.12,10,000
7.
When total sales is Rs.2,00,000, cash sales is Rs.65,000, then credit sales will be Rs _______________
Rs.1,35,000
Rs.2,65,000
Rs.35,000
Rs.65,000
8.
_____ ratios show how efficiently assets or other items have been used to generate revenue from operations.
Liquidity
Long term solvency
Turnover
Profitability
9.
_____ help to assess the ability of a business concern to meet its short term financial obligations.
Long term debts ratio
Liquidity ratios
Profitability ratios
Turnover ratios
10.
All profitability ratios are expressed in terms of ___________
Proportion
Percentage
Times
Money
11.
___________ is one of the most widely used financial accounting softwares
Tally
Excel
Word
Spread sheet
12.
__________ facilitates fast and accurate retrieval of data and information.
Computer accounting system
Accounting software
Both
None of the above
13.
Suspense account group is defined under _________
Assets
Income
Expenditure
Liabilities
14.
All transactions related to receipt either in cash or through bank are recorded using ____________
payment voucher
contra voucher
receipt voucher
sales voucher
15.
Capital Reserve represents _____ profit.
Revenue
both 'a' and 'b'
Deferred revenue
Capital
16.
_____ is returned to the applicants for rejected applications.
Application money
Allotment money
Under subscription
Over subscription
17.
_________ refers to the excess of current assets over current liabilities.
Income
Profit and loss account
Balance sheet
Working capital
18.
Interpretation of accounts is the ____________
art and science of translating the figures
to know financial strengths and weakness of a business
to know the causes for the prevailing performance of business
all of the above
19.
_____ towards the repayment of capital on winding up of the company.
Equity share
Preference
Debenture
Dividend
20.
Which one of the following statements is not true in relation to incomplete records?
It is an unscientific method of recording transactions
Records are maintained only for cash and personal accounts
It is suitable for all types of organisations
Tax authorities do not accept
1.
(c)
6% p.a.
2.
(c)
15%
3.
(a)
Accounting Ratio
4.
(a)
Capital Turnover Ratio
5.
(a)
Cash, Bank, and Short term investments
6.
(b)
Rs.5,00,000
7.
(a)
Rs.1,35,000
8.
(c)
Turnover
9.
(b)
Liquidity ratios
10.
(b)
Percentage
11.
(a)
Tally
12.
(a)
Computer accounting system
13.
(d)
Liabilities
14.
(c)
receipt voucher
15.
(d)
Capital
16.
(a)
Application money
17.
(d)
Working capital
18.
(d)
all of the above
19.
(b)
Preference
20.
(c)
It is suitable for all types of organisations
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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