Class 12 Accountancy MCQs
Accounting for Partnership — Fundamentals MCQs
Accounting for Partnership — Fundamentals — MCQs 1. In the absence of a deed, partners share profits: A. in capital ratio B. equally C. in time ratio D. as the manager decides Ans…
Reconstitution — Admission of a Partner MCQs
Reconstitution — Admission of a Partner — MCQs 1. The sacrificing ratio is calculated as: A. new ratio minus old ratio B. old ratio minus new ratio C. old ratio plus new ratio D.…
Reconstitution — Retirement and Death MCQs
Reconstitution — Retirement and Death — MCQs 1. The gaining ratio is calculated as: A. old ratio minus new ratio B. new ratio minus old ratio C. old ratio plus new ratio D. sacrif…
Dissolution of a Partnership Firm MCQs
Dissolution of a Partnership Firm — MCQs 1. On dissolution of a firm, the books are closed through the: A. revaluation account B. realisation account C. appropriation account D. c…
Accounting for Share Capital MCQs
Accounting for Share Capital — MCQs 1. The amount received over the face value of a share is credited to: A. capital reserve B. securities premium C. general reserve D. profit and…
Issue and Redemption of Debentures MCQs
Issue and Redemption of Debentures — MCQs 1. Debenture holders are the company's: A. owners B. creditors C. directors D. promoters Answer: B 2. Interest on debentures is: A. an ap…
Analysis of Financial Statements MCQs
Analysis of Financial Statements — MCQs 1. A statement showing each item as a percentage of a common base is a: A. comparative statement B. common size statement C. cash flow stat…
Cash Flow Statement MCQs
Cash Flow Statement — MCQs 1. Purchase of a fixed asset is shown under: A. operating activities B. investing activities C. financing activities D. none of these Answer: B 2. Issue…