Accountancy

Quiz
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Education
•
12th Grade
•
Hard
dhanya vk
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26 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Number of partners in a partnership firm may be
Maximum two
Maximum ten
Maximum one hundred
Maximum fifty
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A & B are partners in a partnership firm without any agreement. A has given a loan of 50,000 to the firm. At the end of year loss was incurred in the business. Following interest may be paid to A by the firm :
5%p.a
6%p.a
6% p.m
As there is a loss in the business, interest can't be paid
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
According to Profit & Loss Account, the net profit for the year is ₹ 1,50,000. The total interest on partner's capital is ₹18,000 and interest on partner's drawings is ₹2,000. The net profit as per Profit & Loss Appropriation Account will be:
₹1,66,000
₹1,70,000
₹1,30,000
₹1,34,000
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A& B are partners in a firm. A's Caoital is ₹70,000 & B's Capital is ₹50,000. Firm's profit is ₹60,000. A's share in profit will be:
₹25,000
₹30,000
₹35,000
₹20,000
5.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Net Profit of a firm is ₹49,500. Manager is entitled to a commission of 10% on profits before charging his commission. Manager's commission will be:
₹4,500
₹4,950
₹5,500
₹495
6.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
A, B & C are partners in the ratio of 5:3:2. Before B's salary of ₹17,000, firm's profit is ₹ 97,000. How much in total B will receive from the firm?
₹17,000
₹ 40,000
₹ 24,000
₹ 41,000
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which accounts are opened when the capitals are fixed?
Only Capital Accounts
Only Current Accounts
Capital Accounts as well as Current Accounts
Either Capital Accounts or Current Accounts
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