Financial Statements 1 Test 14

Result

Financial Statements 1 Test 14

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

In which of the following circumstances an offer lapse?

A
When there is change in the law

B
On the offer becoming illegal subsequently

C
Non-acceptance of the offer within the prescribed time

D
All the three
Question 2
1 / -0

When a person selling goods on credit he becomes a _________ in the books of the buyer.

A
Creditor

B
Debtor

C
Defaulter

D
Offender
Question 3
1 / -0

Which of these account will appear in Manufacturing account?

A
Salary

B
Power and fuel expenses

C
Telephone expenses

D
Sales return
Question 4
1 / -0

Profit and loss a/c is also known as a/an ...........

A
Positional statement

B
Income statement

C
Fund flow statement

D
Cash flow statement
Question 5
1 / -0

A, B and C are three partners in a partnership firm dealing in building materials. A on his own without knowledge and consent of remaining partners signed a export order on which he made substantial profit. A is liable to ___________.

A
Retain the profit with him

B
Render the true account of profit to the firm

C
Share the profit with other partners

D
Give some part of profit to other partners also
Question 6
1 / -0

Which of these is an example of extraordinary items?

A
loss due to major fire

B
profit on sale of raw materials

C
arrears of wage revision paid in the current year

D
all the three
Question 7
1 / -0

Purchase of office equipment on 30 days credit will be recorded in ..

A
Purchase day book

B
Purchase a/c

C
General journal

D
Cash book
Question 8
1 / -0

How would you treat Rs. 5250 spent on the over haul of a second hand machine purchased

A
Revenue expenditure

B
Loss in profit and loss A/c

C
Capital expenditure

D
Depreciation
Question 9
1 / -0

Which of these A/c can have debit/credit balance.

A
Wages A/c

B
Interest A/c

C
Dividend paid A/c

D
Cash in hand A/c
Question 10
1 / -0

From the following details, how much should be charged to profit and loss a/c as bad debts during the current year.
Provisions for bad debts a/c as on $$1-1-14$$ Rs. $$20,000$$
Actual bad debts a/c as on $$31-12-14$$ Rs. $$18,000$$
Debtors balance as on $$31-12-14$$ Rs. $$100,000$$
Provisions for bad debts to be made @$$5\%$$ of total debtors.

A
Rs. $$3,000$$

B
Rs. $$4,000$$

C
Rs. $$3,500$$

D
Rs. $$4,500$$

User

Question Analysis

Correct -
Wrong -
Skipped -

My Perfomance

Score
-
out of -
Rank
-
out of -

Re-Attempt Weekly Quiz Competition

Financial Statements 1 Test 14

Result

Financial Statements 1 Test 14

Score

-

Rank

-

SHARING IS CARING

Question 1

When there is change in the law

On the offer becoming illegal subsequently

Non-acceptance of the offer within the prescribed time

All the three

Question 2

Creditor

Debtor

Defaulter

Offender

Question 3

Salary

Power and fuel expenses

Telephone expenses

Sales return

Question 4

Positional statement

Income statement

Fund flow statement

Cash flow statement

Question 5

Retain the profit with him

Render the true account of profit to the firm

Share the profit with other partners

Give some part of profit to other partners also

Question 6

loss due to major fire

profit on sale of raw materials

arrears of wage revision paid in the current year

all the three

Question 7

Purchase day book

Purchase a/c

General journal

Cash book

Question 8

Revenue expenditure

Loss in profit and loss A/c

Capital expenditure

Depreciation

Question 9

Wages A/c

Interest A/c

Dividend paid A/c

Cash in hand A/c

Question 10

Rs. $$3,000$$

Rs. $$4,000$$

Rs. $$3,500$$

Rs. $$4,500$$

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.