__________ If all partners mutually decide for the dissolution, it will be dissolution of the ___________

________ of partner will be paid off, before the settlement of partner’s capital.

All the accounts are settled among partners and creditors at the time of ________ of a business

Partnership is _________ on the retirement or death of a partner

If the value off liabilities decrease, it results in _______ item.

Excess of actual capital over proportionate capital ___________

The proportion in which the continuing partners benefit due to retirement of partner ______________

When a partner dies, firm will receive the __________

Hari, Roy and Prasad are partners in the ratio of 3:5:1 respectively. Roy wants to retire. His share is being purchased by Prasad. What would be the new ratio of Hari and Prasad respectively?

If adjusted closing capital is more than the opening capital, it denotes ____________

Creditors on 1.1.2014 is Rs. 1,21,000 and on 31.12.2014 Rs. 1,30,000. Cash paid to creditors during the year is Rs. 2,09,000. Then the credit purchase during the year is ____________

Trial balance shows machinery of Rs. 2,00,000. Depreciation is provided at 10%. The depreciation on machinery will be____________

Closing capital can be found by preparing a statement of affairs at the __________ of the year

The partnership may came to an end due to the ________

Partner’s equity is affected due to __________

If the remaining partner want to continue the business, after the retirement of a partner, a new partnership agreement is _____________

Balance sheet is prepared under _________

Single entry system is not possible for:

If opening capital is Rs.10,000 & Closing capital is Rs.15,000 then profit or loss _________

Statement of assets & liabilities prepared under Single entry system is called _______

Capital can be obtained by preparing ____________

In single entry system must suited where _________

Single entry system has effect _________

Goodwill is a(n):

A partner who is newly admitted to the firm with the consent of all the parties is called _________

Persons who have entered into partnership with one another are individually called ___________

A,B and C enter into a partnership investing Rs. 35000, Rs. 45000 and 55000. Find the their respective shares in annual profit of 40,500 __________

On which reason(s) for revaluation of assets and liabilities are __________

The reconstitution of the partnership requires a revision of the ___________ of the existing partners.

On admission of a new partner, increase in value of assets is debited to

If new share of the incoming partner is given without mentioning the details of the sacrifice made by the old partners then, the presumption is that old partners sacrifice in the ________.

The new profit sharing ratio will be determined by how the new partner acquires __________ from the old partner.

The partner admitted into partnership firm acquires two rights. i.e.,right to share in the _________ of the partnership and right to share in the _________.

Undistributed loss will appear on the  side of the Balance sheet.

At the time of admission of a new partner, revaluation of ______ and _______should be taken up.

In the revaluation account a decrease in the value of plant and machinery __________

At the time admission of a new partner Goodwill:

At the time admission of a new partner, general reserve is ___________

An incoming parent pays his share of goodwill in cash, and profit sharing ratio of old partner is changed, Goodwill be distributed among old partners.

Goodwill of the firm is valued Rs. 30,000. C an incoming partner purchase ¼ share of total profit Goodwill be raised in the books.

Value of goodwill will agreed upon Rs. 30,000 on C. S admission and allowing him ¼ share of total profit Goodwill is brought is cash, the amount of goodwill will be as __________

At the time of admission an incoming partner contributes as goodwill ______________

Total opening balances of assets and liabilities are Rs. 10,000 and Rs. 5,000 respectively. Find out the opening capital of the business ___________

In which of the following system of recording the financial statements reflect true and fair view of an entity and accounting records are considered to be more accurate?

When a shareholder fails to pay the amount due on allotment or on calls, the amount remaining unpaid is known ________

After getting minimum subscription of shares, the company has to allot shares within ___________ days

Minimum number of members in case of public company is ________________

When shares issued at premium which of the following account is credited?

The profit remaining after issue of forfeited shares, in share forfeiture account will be transferred to ______________

Proposed divided is shown in the balance sheet of a company under the head ______________

Brave Ltd. Issued 60,000 shares of Rs.10 each at a discount of Re.1 per share. The application money was Rs.2, allotment money was Rs.4 and finale call was of Re.1. The amount of final call will be _______________

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

B Ltd. Issued shares of Rs.10 each at a discount of 10%. Mr.C purchased 30 shares and paid Rs.2 on application but did not pay the allotment money of Rs.3. If the company forfeited his entire shares, the forfeiture account will be credited by __________________

Securities premium account is shown on the liabilities side of the balance sheet under the head:

Which ratio is considered as safe margin of solvency?

In the balance sheet amount of total assets is Rs.10 lacks, current liabilities Rs.5 lacks & capital & reserves are Rs.2 lacks . What is the debt equity ratio?

Debt Equity Ratio is 3:1, the amount of total assets Rs.20 lacks, current ratio is 1.5:1 and owned funds Rs.3 lacks. What is the amount of current asset?

Which of the following are limitations of Ratio Analysis?
i) Ratio analysis may result in false results if variations in price levels are not considered
ii) Ratio analysis ignored qualitative factors
iii) Ratio analysis ignores quantitative factors
iv) Ratio analysis is historical analysis

Which of the following statements are true about Ratio Analysis?
i) Ratio analysis is useful in financial analysis
ii) Ratio analysis is helpful in communication and coordination
iii) Ratio analysis is not helpful in identifying weak sports of the business
iv) Ratio analysis is helpful in financial planning and forecasting

Prepaid expenses are shown in the ______________

The Opening stock and Closing stock are Rs.72,000 and Rs.48,000 respectively. Then the average stock is ___________

Gross profit ratio established the relationship between ___________

Liquid liabilities means ________________

100% - Operating profit ratio is equal to _______________

______ are final result of accounting work done during the accounting period.

_____ assets means current assets less stock and prepaid expenses.

Bank overdraft is an example of _____ liability

_______ ratio is an indicator of the overall profitability of the business.

_____ ratio is the proportion of gross profit to net revenue from operations.

_____ ratio indicates the numbers of times the trade payable is turned over during the period in relation to net credit purchases.

______ ratio gives the proportion of proprietors funds to total assets.

______ gives the proportion of current assets to current liabilities of a business concern.

Current assets of a business concern is Rs.60,000 and current liabilities are Rs.30,000. Current ratio will be ___________

All profitability ratios are expressed in terms of ___________

Tally has __________ predefined ledgers.

___________ shows the company selected under List of Selected Companies on the left pane

__________ is used by various types of trade and industries.

_______________ collects financial data, processes them and provides information to the various users.

______________ is a system that provides information for decision making at all levels of management.

Accounting reports can be classified into _________ types.

____________ is a compilation of accounting information that are derived from the accounting records of a business concern.

__________ facilitates fast and accurate retrieval of data and information.

_______________ refers to the system of maintaining accounts using computers.

Match List I with List II and Select the Correct Answer using the Codes given below.

Company Restore option is available in _________

Single entry mode is applicable for _________

Which from the following is better in accounting?

Automated accounting is an approach to maintain up-to-date accounting records with the aid of ___________

In payment voucher, cash or bank account is credited and other ledger account is ___________

All transactions related to payments either in cash or through bank are recorded using __________

All transactions related to receipt either in cash or through bank are recorded using ____________

In 2009, Tally Solutions introduced the software ___________

The balance of forfeited share account is ____ in the Balance sheet.

According to Table - A, interest charged on calls in advance is _____ %

When excess application money is adjusted towards allotment it is called as _____ issued capital.

A public issue cannot be kept open for more _____ days.

Nominal capital is the capital mentioned in the _____ of the company.

As per SEBI guidelines, the minimum application money shall not be less than _____ per cent of the issue price.

_______________ analysis helps in assessing the liquidity and solvency of a business concern.

_________ refers to the excess of current assets over current liabilities.

_____________ refers to the tendency of movement

________ is required in analysing the financial statements.

__________ can get information about the ability of the business to repay by the debits from financial statements.

____________ shows the net result of business activities during an accounting period.

__________ concerns prepare income statement and balance sheet at the of an accounting period.

A technique that is used in comparative analysis of financial statement is ___________

Interpretation of accounts is the ____________

Which of the following are techniques, tools or methods of analysis and interpretation of financial statements?

Common size statement can be prepared with ___________

Preparation of common size statements and computation of ratios are examples of __________

When figure relating to several years are considered for the purpose of analysis, the analysis is called ______________

Different tools are used for analysing the _____________

which statements are involve personal judgment in certain cases?

_____ means such capital as is authorised by the memorandum of association.

_____ is an artificial person.

____ has perpetual succession and the liability of the members is limited.

Match List I with List II and Select the Correct Answer using the Codes given below.

The public issue must be kept open for atleast

In the balance sheet, calls in advance should be shown as other

The excess amount paid over the called up value of a share is known as

When a company issues shares at a price more than the face value, the shares are said to be a

When a company issues shares at a price equal to the face value it is known as __________

Equity shares may be issued for cash at ___________

First installment called __________

Issue of equity shares to the public through prospectus by a public company is call ___________

Profits are distributed among the shareholders in the form of ___________

In order to meet them production must be carried on a _________

Interest on partner's capital is allowed, only when the _______________ specifically provides for i

Under fluctuating capital method, profit or loss in a year, will be transferred to the respective _____________ accounts.

Profit and loss appropriation account is _____________ account in nature.

___________ intervals refers to withdrawal made monthly, quarterly, half-yearly, once in 2 months and once in 4 months.

__________ can be computed by direct method or product method.

________________ is the interest allowed on capital of the partners.

__________ method, only capital account is maintained for each partner

Capital account will always show credit balance under ________ method.

___________ is a document in writing that contains the terms of the agreement among the partners.

Amount is drawn regularly at the middle of every month during the year. Interest calculated for ___________

Decrease in provision for bad and doubtful debts will be shown in the _________ side of Revaluation Account

The new partner does not bring in cash for his share of goodwill under _______ method.

Under fixed capital method salary payable to a partner is recorded ____________

X and Yare partners sharing the profits and losses in the ratio of 2:3 with capitals of Rs. 1,20,000 and Rs. 60,000 respectively. Profits for the year are Rs. 9,000. If the partnership deed is silent as to interest on capital. Show how profit is shared among X and Y ____________

Current accounts for partners will be opened under, ____________

In a partnership business, agreement is ___________

The persons who entered into partnership are collectively known as _____________

Product method can be used in all situations as an alternative to ____________

________ratio is calculated by taking out the difference between new profit sharing ratio and old profit sharing ratio

______is calculated to determine the amount of compensation to be paid by each of the continuing partners to the outgoing partners

The amount due to the________partner is either paid off immediately or is paid in instalments.

Under revaluation method goodwill account is raised by crediting the old partner's _________ accounts in the old profit sharing ratio.

Undistributed profits will appear on the _______ side of the balance sheet

The difference between old profit sharing ratio and new profit sharing ratio at time of admission is _________ ratio.

At the time of admission of a new partner, revaluation of ________ and ________ should be taken up.

The revaluation profits and losses are recorded in the _________ account

________ ratio is the proportion of the profit which is sacrificed or foregone by the old partners in favour of the new partner.

The net result of revaluation is adjusted through the ___________ accounts of the partners

Revaluation account is a___________account

Period of interest refers to the period from the date of drawings to the closing date of the __________

Interest on capital is to be calculated on the capitals at the beginning for the ____________

All the transactions between the partner and the firm are recorded in the _________

Which of the following method, the capital of the partners is not altered and it remains generally fixed?

Capital account balance of the sole proprietor alone as shown in the balance sheet of ________

The balance in the appropriation account is transferred to the partner's capital account in the ________

In sole proprietorship, the profit or loss in the profit and loss account is transferred directly to the sole proprietor's ___________

The maximum number of partners in a partnership firm is ________

The name under which the business of a firm is carried on is called the ____________

Old ratio of profit minus sacrifice ratio will be __________

On admission of a partner if goodwill account is to be raised this should be debited to __________

The revaluation profit or loss is transferred to the old partner's capital accounts, in their __________

When an unrecorded liabilities is brought into books, is results in

If it is desired to calculate profit by preparing trading and profit and loss account under single entry then it is called ______ method.

True financial position cannot be ascertained as _____ is not prepared due to the absence of nominal and real accounts.

Single entry system keeps one cash book which mixes up business as well as ____ transactions.

_____ is suitable only for sole traders and partnership firms.

Statement of affairs method is also called as _____ method.

Incomplete records are those records which are not kept under ____ system

Match List I with List II and Select the Correct Answer using the Codes given below.

Companies cannot keep books on single entry system because of ________

A firm has assets worth Rs. 47,500 and liabilities Rs. 17,700. Then its capital is _____________

Credit purchase is obtained from _______

A firm has assets worth Rs. 60,000 and capital Rs. 45,000.Then it's liabilities is _________

The different between the total of assets and total of liabilities is taken as __________

Net asset value method is based on the assumption that the company is__________.

Goodwill is not a ________ asset

Goodwill has _________Value

Capital employed at the end the year is Rs. 74,20,000 profit earned Rs. 20,000. Average capital employed is__________.

While calculating capital employed _________.

__________ is the excess of average profit over the normal profit of a business.

__________ method, goodwill is calculated as certain years of purchase of average profits of the past few years.

___________ method, goodwill is calculated by multiplying the average profits by a certain number of years of purchase.

_________ Cannot be seen or touched.

________  is the good name or reputation of the business which brings benefit to the business

Goodwill is paid for obtaining ____________

The total capitalised value of the business is calculated by capitalising the average profits on the basis of __________

Goodwill helps in earning more profit and attracts more _________

Goodwill is shown under fixed assets in the ___________

Which is the present value of a firm's future excess earnings?

In both types of policies, the insurance premium is paid by the _____________

The settlement is to be done in the manner prescribed in the ___________

The profit or loss arising therefrom is transferred to the capital accounts of all the partners in the _____________

The firm is reconstituted and other partners continue the partnership firm with a new __________

When a partner leaves from a partnership firm, it is known as __________

________is a revenue expenditure

A gift made to a not-for-profit organization by a will, is called________

_______are the amounts received by not for- profit organisations as a gift

_______items will be recorded in income and expenditure account

Receipts and Payment accounts is a_________ account in nature.

Rent expenses of a non-profit organization paid in advance. Which of the following is the correct classification of rent _________

The receipts and payments account of a nonprofit organisation is a __________

Some organisations are established for the purpose of rending services to the public without __________

On what basis the receipts and payments account is prepared?

Subscription received but not yet earned is considered as a /an _____________

Which of the following is to be recorded in an income and expenditure account?

Income and Expenditure account is based on _________

An advance receipt of subscription from a member of the non - profit organization is considered as alan __________

Balaji and Kamalesh are partners sharing profits and losses in the ratio of 2:1. They admit Yogesh into partnership. The new profit sharing ratio between Balaji, Kamalesh and Yogesh is agreed to 3:1:1. Find the sacrificing ratio between Balaji and Kamalesh.

Match List I with List II and select the correct answer using the codes given below:

Which of the following statements is not true in relation to admission of a part _________.

If the old profit sharing ratio is more than the new profit sharing ratio of a partner, the difference is called