Description : Share Allotment Account is _______________ A. Real A/c B. Personal A/c C. Nominal A/c D. Fictitious A/c
Last Answer : B. Personal A/c
Description : Share application Account is _______________ A. Real A/c B. Personal A/c C. Nominal A/c D. Fictitious A/c
Description : Share allotment account is a ------------------. A. personal account B. Real account C. Nominal account D. Impersonal accoun
Last Answer : A. personal account
Description : The rule debit all expenses and losses and credit all income and gains relates to A] Personal account B] Real account C] Nominal accounts D] All
Last Answer : C] Nominal accounts
Description : Debit the receiver & credit the giver is _____ account a) Personal b) Real c) Nominal d) All the above
Last Answer : a) Personal
Description : Which of the following is wrong? (a) All real and personal accounts are transferred to balance sheet (b) Nominal accounts are transferred to P &L account (c) Each account is opened separately in ledger (d) Rent is a personal account, outstanding rent is nominal account
Last Answer : d) Rent is a personal account, outstanding rent is nominal accoun
Description : The principle ―Debit the receiver and credit the giver‖ is related to_____ a) Personal a/c b) Real a/c c) Nominal a/c d) None
Last Answer : a) Personal a/c
Description : Cash A/c is a ________ A/c. a) Personal b) Real c) Nominal d) None
Last Answer : b) Real
Description : Capital A/c is a _______ A/c. a) Personal b) Real c) Nominal d) None
Description : Cash a/c is a ______ a) Real a/c b) Nominal c) Personal d) None
Last Answer : a) Real a/c
Description : Which of the following is not a nominal Account? A] Outstanding salaries Account B] Salaries account C] Interest paid D] Commission received
Last Answer : A] Outstanding salaries Account
Description : When shares issued at premium which of the following account is credited? A. Share premium account B. Share first call account C. Share allotment account D. Share forfeited account
Last Answer : A. Share premium account
Description : The share capital, to the extent already held by the purchasing company, is closed by the vendor company by crediting it to: A. Share capital account B. Purchasing company's account C. Realisation account. D. Business purchase account
Last Answer : C. Realisation account.
Description : Under purchase method the difference between the purchase consideration and share capital of the transferee company should be adjusted to: A. General reserve B. Amalgamation adjustment account C. Goodwill or capital reserve D. None of the above
Last Answer : C. Goodwill or capital reserve
Description : Under pooling of interest method the difference between the purchase consideration and share capital of the transferee company should be adjusted to: A. General reserve B. Amalgamation adjustment account C. Goodwill or capital reserve D. None of the above
Last Answer : A. General reserve
Description : The original amount of preference share capital should be transferred to ............ account in the time of amalgamation in the books of vendor co. (A) Preference shareholders Account (B) Capital Reserve Account (C) Equity share capital Account (D) Equity share capital Account
Last Answer : (A) Preference shareholders Account
Description : Which of the following is not a Real Account? a) Cash A/c b) Investments A/c c) Out standing rent A/c d) Purchases A/c
Last Answer : c) Out standing rent A/c
Description : Gross assets are Rs.1,01,000, fictitious assets Rs.350 are included in the gross assets. External liabilities are Rs.7,500. 6% prefer share capital is Rs.45,000. Equity capital is 4,500 equity shares of Rs.10 each fully ... . The Net Asset Value Per share is A Rs.11 B Rs.10.70 C Rs.15 D Rs.20
Last Answer : Rs.10.70
Description : Equity includes -------------- a) Equity share capital b) Equity share capital+Preference share capital+-fictitious asset c) Equity capital+Prefernce share capital+reserves snd surplus-fictious asset d) Equity capital+Preference share capital
Last Answer : c) Equity capital+Prefernce share capital+reserves snd surplus-fictious asset
Description : On the admission of a partner, fictitious assets are– (A) Transferred to Revaluation Account (B) Transferred to Capital Account (C) Transferred to Reserves (D) Shown in the new Balance Sheet
Last Answer : Answer: Transferred to Revaluation Account
Description : Value of goods withdrawn by the proprietor for his personal use should be credited to ____ a) Capital A/c b) Sales A/c c) Drawings A/c d) Purchases A/c
Last Answer : d) Purchases A/c
Description : The first firm to mass-market a microcomputer as a personal computer was a. IBM b. Super UNIVAC c. Radio Shaks d. Data General Corporation
Last Answer : c. Radio Shaks
Description : Most of the inexpensive personal computer does not have any disk or diskette drive. What is the name of such computes? a. Home computers b. Diskless computers c. Dedicated computer d. General computer
Last Answer : a. Home computers
Description : Multi user systems provided cost savings for small business because they use a single processing unit to link several a. Personal computers b. Workstations c. Dumb terminals d. Mainframes
Last Answer : c. Dumb terminals
Description : A typical personal computer used for business purposes would have… of RAM. a. 4 KB b. 16 K c. 64 K d. 256 K
Last Answer : d. 256 K
Description : The use of spooler programs and/or …. Hardware allows personal computer operators to do the processing work at the same time a printing operation is in progress a. Registered mails b. Memory c. CPU d. Buffer
Last Answer : d. Buffer
Description : The personal computer industry was started by a. IBM b. Apple c. Compaq d. HCL
Last Answer : a. IBM
Description : The system unit of a personal computer typically contains all of the following except: a. Microprocessor b. Disk controller c. Serial interface d. Modem
Last Answer : d. Modem
Description : Personal computers use a number of chips mounted on a main circuit board. What is the common name for such boards? a. Daughter board b. Motherboard c. Father board d. Breadboard
Last Answer : b. Motherboard
Description : IMB launched its first personal computer called IBM-PC in 1981. It had chips from Intel, disk drives from Tandon, operating system from Microsoft, the printer from Epson and the application software from ... country which contributed the video display? a. India b. China c. Germany d. Taiwan
Last Answer : d. Taiwan
Description : Goods withdrawn by the proprietor for his personal use are A. Shown as a deduction from the purchases B. Shown as a deduction from the sales C. Treated as sales at cost price D. Added to the purchases
Last Answer : A. Shown as a deduction from the purchases
Description : Which one is not an element of internal environment? A. Marketing capabilities B. Operational Capabilities C. Money and capital market D. Personal Capabilities
Last Answer : C. Money and capital market
Description : A newly established company cannot be successful in obtaining finance by way of A. issue of equity capital B. issue of preference share C. issue of debenture D. None of the above
Last Answer : C. issue of debenture
Description : Unpaid calls are shown in the balance sheet of a company A. By adding it to the share capital B. By deducting it from the called-up share capital C. Under the head 'current assets' D. Under the head 'curent liabilities'
Last Answer : B. By deducting it from the called-up share capital
Description : Bonus shares can be issued by a company A. Out of the Reserves created by revaluation of fixed assets B. Out of share premium not collected in cash C. Without any provision for it in the Articles of Association of the company D. Out of free reserves built out of genuine profit
Last Answer : D. Out of free reserves built out of genuine profit
Description : Which one of the following is an example of sources of funds? A. Decrease in share capital B. Increase in long-term liabilities C. Decrease in long-term liabilities D. Increase in fixed assets
Last Answer : B. Increase in long-term liabilities
Description : The profit on the reissue of forfeited share are transferred to A. Capital A/ c B. Capital Reserve C. Profit & Loss A/c D. General Issues
Last Answer : B. Capital Reserve
Description : Suppliers and creditors of a firm are interested in A. Profitability position B. Liquidity position C. Market share position D. Debt position
Last Answer : B. Liquidity position
Description : Assertion (A) :The liability of share holders in a private limited company is limited to the amount. Reason (R) :The number of share holders of a private limited company is limited to fifty. A. Both A and R are ... correct explanation of A C. A is true but R is false D. A is false but R is true
Last Answer : D. A is false but R is true
Description : Share holder are____________ A. Creditor Of Company B. Debtor of Company C. Owner of Company D. Members of Company
Last Answer : C. Owner of Company
Description : Dividend is paid on _______ A. On Issued Share Capital B. On Subscribed Share Capital C. On Called up Share Capital D. On Paid up Share Capital
Last Answer : D. On Paid up Share Capital
Description : Corporate dividend tax is _______ A. Computed on Net profit B. Computed on Share Capital C. Computed on Goss Profit D. Computed on Dividend paid
Last Answer : D. Computed on Dividend paid
Description : Which can be a method of privatisation ? i. Disinvestment ii. Denationalisation iii. Purchasing Share iv. Takeover v. Merger
Last Answer : i. Disinvestment
Description : Privatisation of ownership through sale of equity share is called A. Denationalisation B. Disinvestment C. Contracting D. None of these
Last Answer : B. Disinvestment
Description : What are the decisions taken by government of India pertaining to Industrial Sector in the new industrial policy of 1991? A. VRS to shed the excess load of workers B. Disinvestment of public sector share holding C. Referring sick units to BIFR D. All of the above
Last Answer : D. All of the above
Description : If the intrinsic values of shares exchanged are not equal, the difference is paid in ........... (A)Cash (B)Debenture (C)Pref. share (D)Assets
Last Answer : (A)Cash
Description : The minimum share Application money is -----------. A. 5% of the face value of shares B. 10% of the issue price of shares C. Re. 1 per share D. 15% of the face value of shares
Last Answer : A. 5% of the face value of shares
Description : Cash discount allowed to a debtor should be credited to a) Discount account b)Customer’s account c) Sales account d) Cash account
Last Answer : b)Customer’s account
Description : Rent paid to landlord should be credited to a) Landlords account b) Rent account c)Cash account d) Expense account
Last Answer : c)Cash account
Description : Sales made to Mahesh for cash should be debited to________________ a) Cash account b) Mahesh Account c) Sales account d) Purchase account
Last Answer : a) Cash account