List of top Accountancy Questions

The capital accounts of partners will always show a ________ balance under fixed capital account method
If net profit made during the year are ₹ 50,000 and the bills receivables have decreased by ₹10,000 during the year then the cash flow from operating activities will be:
Which of the following arguments in a financial function represents the total number of payments
What are the different types of liquidity ratios
A. Interest coverage ratio 
B. Current ratio 
C. Inventory turnover ratio 
D. Gross profit ratio 
E. Acid test ratio 
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Aman and Mohan, partners of a firm decided to dissolve the business on 31-03-22. The firm decided to pay realisation expenses of ₹ 1,000 on behalf of Mohan. ₹1000 will be debited to
Match List-I with List-II
LIST I: Basis of Debenture LIST II: Types of Debenture
(A)Tenure(I)Zero coupon rate
(B)Interest rate point of view(II)Irreedemable
(C)Security(III)Registration
(D)Bearer(IV)Secured
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Journal entry to be passed for unrecorded assets for preparing Revaluation A/C at the time of Retirement of a partner will be______
At the time of admission of partner if goodwill exist in the books of account it will be written off among:
Securities premium Reserve can be utilised
A. to return excess money received on application
B. to write off preliminary expenses 
C. to issue partly paid bonus shares 
D. for premium paid on Redemption of Debentures or preference shares 
E. for buy back of shares 
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Identify the steps in preparation of final accounts of not for profit organization (NPO)
A. Prepare Balance Sheet of NPO 
B. Prepare Income and Expenditure Account from Receipts and payment Account 
C. Prepare Receipts and payment Account 
D. Adjust outstanding/prepaid expenditure/Income and determine surplus/ Deficit E. Prepare cash book 
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What are the internal controls designed to do?
If debentures are converted into equity shares, it is a/an :
Identify the limitations of financial statements:
A. Can be biased 
B. Report on stewardship function 
C. Aggregate information 
D. Only interim reports 
E. Basis of fiscal policies 
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Common size analysis is also known as
When the total amount withdrawn is given but the date of withdrawal is not given then interest on drawings is charged for a period of:
It is the amount-paid to the person who is not the regular employee of the institution.
The term field' as applied to database table means.
While preparing common-size Balance sheet, each item of Balance sheet is expressed as % of
Match List-I with List-II in context of not having partnership deed.
LIST I  LIST II
(A)Interest on loan (I)Equal
(B)Interest on drawings(II)Will not be charged
(C)Salary(III)@ 6% p.a. 
(D)Profit sharing ratio (IV)Will not be allowed/provided 
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How many blank worksheets are shown when a new workbook is created.
If a partner retires in the middle of the year his/her share of profit from the date of last balance sheet till the date of retirement will be transferred to :
Sale of copy rights are considered as a part of
Identify the components of equity:
A. Money received against share warrants 
B. Working capital 
C. Share capital 
D. Reserves & surplus 
E. Cash Revenue from operations 
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Match List-I with List-II
LIST I: Major Head  LIST II: Sub Head 
(A)Fixed assets(I)Short term provisions
(B)Current Assets  (II)Money received against share warrants
(C)Current Liabilities(III)Non current investment
(D)Shareholder's Funds(IV)Inventories 
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What is the correct sequence of types of capital in company's Balance sheet while preparing notes to accounts.
A. Issued Capital 
B. Subscribed and fully paid up capital 
C. Share forfeited Balance 
D. Authorised Capital 
E. Subscribed but not fully paid up capital 
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