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WorksheetsAccountancy
Total questions: 13
Worksheet time: 7mins
on the admission of a new partner,increase in the value of assetsis debited to
p n l adjustment a/c
assets a/c
old partners capital a/c
none of these
which of the following is not a revenue receipt
donations for tournament
government grants
subscriptions
entrance fees
which of the following transactions will not result into flow of cash
issue of equity shares
purchase of machinery
redemption of 9% debentures
cash deposited into bank
pick the odd one out
rent to partner
manager commission
interest on partner loan
interest on partners capital
At the time of dissolution of firm, journal entry for the settlement of loan advanced by the firm to a partner would be
(a)
Retirement or death of a partner would create a situation for continuing partners which is known as
dissolution of partnership
dissolution of partnership firm
winding up of business
none of the above
Proposed dividend is a (a) liability
on dissolution of a partnership firm,goodwill if appearing in the balance sheet, is transferred to
revaluation a/c
realisation a/c
partners capital a/c
balance sheet
trade payables consists of ........... and ...........
(a)
Is trail balance is an accounts?
Yes
No
Don’t know
None of these
Double entry system means
Twice recorded
Once in ledger once in journal
Recording of both aspects of transaction
None of these
Gross Profit ratio is also termed as
Gross Profit Margin
Gross Margin to net sales
Net Profit ratio
Ratio Analysis
A voucher is prepared for
a) Cash and credit purchases
b) Cash and credit sales
c) Cash received and paid
d) All of these
