This paper consists 100 objective type questions for 2 hrs duration on commerce
| Sr. No. | Question |
| 1 | The first stage of double energy system is (a) original records (b) posting (c) classification (d) Trial balance |
| 2 | A and B share profits and losses in the ratio of 3 : 1. C is admitted into partnership for ¼ share. The sacrificing ratio of A and B is
(a) Equal (b) 3 : 1 (c) 2 : 1 (d) 3 : 2 |
| 3 | In the case of retirement of a partner, full goodwill is credited to the account of –
(a) All partners (b) Remaining partners (c) Any one partners A/c (d) None of these |
| 4 | X, Y and Z share profits in the ratio of ½ : 1/3 : 1/6. Z dies. New ratio of X and Y will be
(a) 3 : 2 (b) 2 : 3 (c) 2 : 1 (d) 10 : 11 |
| 5 | When a partner becomes insolvent, loss on realization is distributed among partners in following ratio
(a) Equal (b) Profit sharing (c) Capital (d) Goodwill |
| 6 | The discount on issue of shares account is a loss of
(a) Capital nature (b) Revenue nature (c) Capital reserve (d) None of these |
| 7 | In comparision to face value, the valuation of shares are usually
(a) Less (b) More (c) Equal (d) Less or More |
| 8 | In dividend on preference shares has been declared but not paid, on liquidation dividend is paid as
(a) Arrears of dividend (b) Debt (c) Preferential creditor (d) None of the above |
| 9 | When the following company purchases the shares of subsidiary company, which of the following account will be debited to
(a) Bank A/c (b) Goodwill A/c (c) Investment A/c (d) Share Capital A/c |
| 10 | Which of the following is not factory overhead
(a) Factory insurance (b) Depreciation of plant (c) Drawing officer salary (d) Salary |
| 11 | Where a contract is 35% complete, any profit on same is transferred
(a) Wholly to profit & loss account (b) Wholly to work in progress account (c) Partly to profit & loss account and partly to work-in-progress account (d) None of these |
| 12 | Input to a process is 460 units normal loss is 15% of input. If out put is 400 units, processing has resulted in
(a) Normal loss (b) Abnormal loss (c) Abnormal gain (d) None of these |
| 13 | A truck carries 4 tonnes of goods. It unloads one tonne after 7 kms. And the balance after travelling 5 kms. It runs empty on the return trip. Calculate absolute tonne-kilometer.
(a) 50 (b) 45 (c) 47 (d) 43 |
| 14 | Ideal level and current ratio is
(a) 4 : 1 (b) 2 : 1 (c) 1 : 1 (d) 0.5 : 1 |
| 15 | Which of the following is not treated as uses of find
(a) Loss from operation (b) Payment of dividend in cash (c) Redemption of capital in cash (d) Sale of fixed assets for cash |
| Published on 9th Oct 2021 | |
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