Financial Statements 1 Test 12

Result

Financial Statements 1 Test 12

Score
-
out of -
Rank
-
out of -

TIME Taken - -

SHARING IS CARING

If our Website helped you a little, then kindly spread our voice using Social Networks. Spread our word to your readers, friends, teachers, students & all those close ones who deserve to know what you know now.

Weekly Quiz Competition

Question 1
1 / -0

From $$2006-2009$$ the cost of living index has gone from $$110$$ to $$200$$ and at the same time the minimum wages of unskilled workers has gone up from Rs. $$3250$$ to Rs. $$5000$$ pm. Find the loss or gain to the workers in real terms.

A
loss Rs. $$454$$ pm

B
gain Rs. $$454$$ pm

C
gain Rs. $$1750$$ pm

D
loss Rs. $$1750$$ pm
Question 2
1 / -0

Which of these is not a monetary items?

A
Cash

B
Accounts receivables

C
Accounts payable

D
Stock in trade
Question 3
1 / -0

Tick the false statement

A
Trading A/c shows cost of goods manufactured

B
Profit and Loss A/c is prepared on Mercantile basis of Accounting

C
Unexpired Insurance is a personal account

D
Consistency concept facilitate inter firm comparison
Question 4
1 / -0

Cash discount allowed A/c is shown in....

A
Profit and loss A/c

B
Trading A/c

C
Sales day book

D
Sales A/c
Question 5
1 / -0

Sales day book is opened to record __________.

A
All trading sales

B
All trading sales other than on cash basis

C
All trading sales other than on credit basis

D
All sales of value less than Rs. $$5,000$$ per invoice
Question 6
1 / -0

Which of the following method of inventory valuation is generally accepted by tax authorities.

A
FIFO

B
LIFO

C
Standard cost

D
Base stock price
Question 7
1 / -0

There are three partners in a firm A, B and C, D is admitted into the firm with 1/4 share of profit with a guaranteed profit of Rs. 15,000 p.a. given by A. The firm's total profit is Its. 56,000. What would be share of profit of A

A
Rs. 20,000

B
Rs. 13,000

C
Rs. 12,500

D
Rs. 17,500
Question 8
1 / -0

Goods distributed as free sample are treated as.....

A
Sales

B
Consumption

C
Sales promotion expenses

D
Dead loss
Question 9
1 / -0

Trading A/c shows ......

A
Gross profits only

B
Gross loss only

C
Gross profit or loss

D
Net profit
Question 10
1 / -0

ABC Ltd. purchased a plant for Rs.60,000 payable Rs.15,000 in cash and balance by issue of $$16\%$$ debentures of Rs.100 each. How many debentures would be required to be issued to the vendor

A
455 debentures of Rs.100 each

B
450 debentures of Rs.100 each

C
435 debentures of Rs.100 each

D
460 debentures of Rs.100 each

User

Question Analysis

Correct -
Wrong -
Skipped -

My Perfomance

Score
-
out of -
Rank
-
out of -

Re-Attempt Weekly Quiz Competition

Financial Statements 1 Test 12

Result

Financial Statements 1 Test 12

Score

-

Rank

-

SHARING IS CARING

Question 1

loss Rs. $$454$$ pm

gain Rs. $$454$$ pm

gain Rs. $$1750$$ pm

loss Rs. $$1750$$ pm

Question 2

Cash

Accounts receivables

Accounts payable

Stock in trade

Question 3

Trading A/c shows cost of goods manufactured

Profit and Loss A/c is prepared on Mercantile basis of Accounting

Unexpired Insurance is a personal account

Consistency concept facilitate inter firm comparison

Question 4

Profit and loss A/c

Trading A/c

Sales day book

Sales A/c

Question 5

All trading sales

All trading sales other than on cash basis

All trading sales other than on credit basis

All sales of value less than Rs. $$5,000$$ per invoice

Question 6

FIFO

LIFO

Standard cost

Base stock price

Question 7

Rs. 20,000

Rs. 13,000

Rs. 12,500

Rs. 17,500

Question 8

Sales

Consumption

Sales promotion expenses

Dead loss

Question 9

Gross profits only

Gross loss only

Gross profit or loss

Net profit

Question 10

455 debentures of Rs.100 each

450 debentures of Rs.100 each

435 debentures of Rs.100 each

460 debentures of Rs.100 each

User

Question Analysis

My Perfomance

Score

-

Rank

-

Results Announcement on: coming Monday

Stay Tuned: We’ll update you on your result via email or SMS.