List of top Accountancy Questions

As per the double entry system. the correct sequence of accounting of financial transaction in the books of owner is :
.A.Profit and loss account and balance sheet.
B. Trial balance
C. Ledger
D. Journal Entry
E. Memorandum book.
Choose the cornet answer from the options given below :
Match List I with List II
List I
(Heads of Transitions)		List II
(Ind. AS)
A.Presentation of financial statementsI.Ind-As 19
B.Event after the Reporting periodsII.Ind-As 10
C.Employee BenefitsIII.Ind-As 1
D.Accounting for Governments grants and disclosure of Govt. AssistanceIV.Ind-As-20
Choose the correct answer from the options given below :
At the time of admission of a new partner general reserve appearing in the old balance sheet is transferred to_______
What are different types of debentures from the view point of registration
A. Convertible
B. Bearer 
C. Redeemable 
D. Secured 
E. Registered
Choose the correct answer from the options given below:
Identify the correct sequence to find out profit after tax while preparing comparative income statement
A. Deduct expenses 
B. Find out total revenue by adding other incomes to revenue from operations 
C. Find out profit after tax 
D. Deduct tax E. Calculate profit before tax 
Choose the correct answer from the options given below:
Calculate the amount of yearly interest payable on 9% debentures (10,000 debentures of ₹100) issued as collateral security.
What is the correct sequence of allotment of shares
A. Allotment money received 
B. Inviting applications from investors 
C. Allotment Due 
D. Application money Received 
E. Share Call Money Due 
Choose the correct answer from the options given below:
The capital accounts of partners will always show a ________ balance under fixed capital account method
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
Choose the correct answer from the options given below:
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
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 
Choose the correct answer from the options given below:
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
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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At the time of admission of partner if goodwill exist in the books of account it will be written off among:
Journal entry to be passed for unrecorded assets for preparing Revaluation A/C at the time of Retirement of a partner will be______
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 :
It is the amount-paid to the person who is not the regular employee of the institution.
Common size analysis is also known as
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 
Choose the correct answer from the options given below:
The term field' as applied to database table means.
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:
How many blank worksheets are shown when a new workbook is created.