CLD BHOPAL ACCOUNTS MOCK TEST MODULE B

CLD BHOPAL ACCOUNTS MOCK TEST MODULE B

100 Qs

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CLD BHOPAL ACCOUNTS MOCK TEST MODULE B

CLD BHOPAL ACCOUNTS MOCK TEST MODULE B

Assessment

Quiz

Practice Problem

Hard

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100 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Choose the correct options for Net worth of a business: I) The liability of the business towards the owners. II) The assets of the business. III) Sum of Capital and Balance of reserves and surplus IV) sum of assets and capital

I and III
II and IV
I and IV
I , III and IV

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Coversion of loan into equity results in I) Change in total assets only. II) Change in both assets and liabilities. III) Change in assets but total assets remain the same. IV) Change in liabilities but total liabilities remain the same.

I
II
III
IV

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Calculate Outside liabilities for the following firm: Total Assets = 500 Capital = 200 Creditors = 50

700
300
150
350

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What will be the change in below balance sheet, if a firm purchases Raw material worth Rs.5 on credit: Original Balance Sheet: Capital = 20 Cash = 20 Creditors = 10 Stock = 10

Capital = 20 Cash = 10 Creditors = 5 Stock = 15
Capital = 25 Cash = 20 Creditors = 10 Stock = 15
Capital = 20 Cash = 15 Creditors = 10 Stock = 15
Capital = 20 Cash = 20 Creditors = 15 Stock = 15

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What will be the change in below balance sheet, if a firm solds good cost of which is Rs.5 on credit for Rs.10 Original Balance Sheet: Capital = 15 Cash = 10 Creditors =5 Stock = 10

Capital = 20 Cash = 20 Creditors =15 Stock =0 Debtors = 15
Capital = 15 Cash = 10 Creditors =5 Stock = 5 Debtors = 5
Capital = 20 Cash = 10 Creditors =5 Stock = 5 Debtors = 10
Capital = 15 Cash = 15 Creditors =10 Stock = 0 Debtors = 10

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A borrower repaid loan installment of Rs.1000/- Choose the correct effect on Balance sheet.

Liabilities decrease by Rs.1000/- only
Liabilities increase by Rs.1000/- Assets decrease by Rs.1000/-
Liabilities decrease by Rs.1000/- Assets decrease by Rs.1000/-
Liabilities increase by Rs.1000/- Assets increase by Rs.1000/-

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If Unsecured loan worth Rs.100 lakhs is converted to quasi capital by the company, what all will be the effect on Balance Sheet: I) Total Liabilities will decrease by Rs.100 lakhs II) Total Liabilities will remain same. III) Total Assets and total liabilities will increase by Rs.100 lakhs IV) TOL/TNW will change.

Only II is correct
III and IV are correct
I and IV are correct
II and IV are correct

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