Financial Statements 1 Test 13

Result

Financial Statements 1 Test 13

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Weekly Quiz Competition

Question 1
1 / -0

What is new profit sharing ratio in Q. No. 37

A
2:6:5

B
6:4:5

C
4:6:5

D
5:6:4
Question 2
1 / -0

Accumulated losses are shown on the

A
Assets side

B
Liability side

C
Profit and loss appropriation A/c

D
Deducted from share capital
Question 3
1 / -0

Divisible profits includes the following except.

A
Dividend equalization reserve A/c

B
Capital reserve A/c

C
Profit and loss A/c

D
General reserve A/c
Question 4
1 / -0

Which of these expense are part of profit and loss A/c

A
Power and fuel

B
Wages and salary

C
Carriage inward

D
Salesmen's salary
Question 5
1 / -0

Which of these expenses are shown in trading A/c

A
Carriage inward

B
Carriage outward

C
Postage and telegram expenses

D
Salary
Question 6
1 / -0

On $$31$$st December $$2013$$. A of Ahmedabad consigned $$1000$$ Boxes of SET TOP Box to D of Delhi (Cost price $$1,60,000$$) at a Proforma invoice price of $$25\%$$ profit in cost. Consignment accounted would be credited for stock loading by.

A
Rs. $$40,000$$

B
Rs. $$45,000$$

C
Rs. $$50,000$$

D
Rs. $$33,000$$
Question 7
1 / -0

Loss of stock to fire would lead to ___________.

A
no charge in total assets

B
total assets to decrease

C
total assets to increase

D
total assets and owners equity to decrease
Question 8
1 / -0

From the following details calculate the commission payable to the Manager if the commission to be paid is $$11\%$$ of the net profit after charging such commission.
Profit before charging commission Rs. $$66,750$$
Rate of Commission $$11\%$$ of net profit after charging commission.

A
Rs. $$6,521$$

B
Rs. $$6,013$$

C
Rs. $$6,400$$

D
Rs. $$6,675$$
Question 9
1 / -0

What are the consequences of debiting freight and transport charges incurred on a fixed assets to Freight and Transport A/c

A
Under statement of profit

B
Over statement of loss

C
Under valuation of fixed assets

D
All the three
Question 10
1 / -0

Wages and salary is shown in...........

A
Trading A/c

B
Profit and loss A/c

C
Profit and loss appropriation A/c

D
Profit and loss adjustment A/c

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Re-Attempt Weekly Quiz Competition

Financial Statements 1 Test 13

Result

Financial Statements 1 Test 13

Score

-

Rank

-

SHARING IS CARING

Question 1

2:6:5

6:4:5

4:6:5

5:6:4

Question 2

Assets side

Liability side

Profit and loss appropriation A/c

Deducted from share capital

Question 3

Dividend equalization reserve A/c

Capital reserve A/c

Profit and loss A/c

General reserve A/c

Question 4

Power and fuel

Wages and salary

Carriage inward

Salesmen's salary

Question 5

Carriage inward

Carriage outward

Postage and telegram expenses

Salary

Question 6

Rs. $$40,000$$

Rs. $$45,000$$

Rs. $$50,000$$

Rs. $$33,000$$

Question 7

no charge in total assets

total assets to decrease

total assets to increase

total assets and owners equity to decrease

Question 8

Rs. $$6,521$$

Rs. $$6,013$$

Rs. $$6,400$$

Rs. $$6,675$$

Question 9

Under statement of profit

Over statement of loss

Under valuation of fixed assets

All the three

Question 10

Trading A/c

Profit and loss A/c

Profit and loss appropriation A/c

Profit and loss adjustment A/c

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