Practice Accounts Questions and Answers

• No prospectus shall be valid if it is issued more than ______ days after the date on which a copy thereof is delivered to the Registrar under 26(4) of The ...
• In which year Indian Contract Act was enacted?
• X Ltd. provides you the following information to calculate P/V ratio. Fixed cost = Rs. 40,000, Break-even point = Rs. 1,00,000
• What is the maximum number of companies in which a person can hold directorship?
• Sales book is kept to record:
• A threat to commit suicide may amount to:
• Which one of the following conditions should be fulfilled for an employee to be a specified employee?
• In the proposed budget (2017-2018), MAT credit to be carried forward to:
• Calculate Breakeven point from the following data: Fixed cost = Rs. 1,20,000 Sales = Rs. 2,20,000 Variable cost = Rs. 88,000
• Fixed cost per unit increases when:
• A firm produced goods of Rs. 80,000 and spent Rs. 6,000 on carriage outward. At the end of the year, cost of goods still unsold was Rs. 2,000. Sales during...
• Marginal cost of capital is the cost of:
• Under what heading, "uncalled liability on partly paid up shares" will appear while preparing final accounts of limited liability companies? 
• Which type of prospectus can be used for inviting subscriptions of securities for one or more issues over a certain period of time?
• Which one of the following is not regarded as Indirect material?
• Under the Indian Contract Act, the suggestion as a fact of that which is not true by one who does not believe it to be true and the active concealment of a...
• From the following information calculate interest to be paid: Cash Price: Rs. 1,00,000 Down Payment: Rs. 10,000 Balance in 3 equal installments of Rs. 30,0...
• Holding cash for transaction motive is:
• The average due date technique of payment may be used:
• X acquired a car on hire purchase basis and made a down payment of Rs. 1,00,000. Subsequent payments to be made are Rs. 2,63,000, Rs. 1,85,000, and Rs. 1,1...
• What does ERP stand for?
• According to Companies Act 2013, one person company will always be formed as:
• Salary or wages under bonus act includes:
• Under the Companies Act, 2013, the paid-up capital for a small company is:
• ABC analysis is mainly used for:
• Calculate sales to earn a profit of Rs. 150,000, if fixed cost = Rs. 3,00,000 and P/V ratio is 20%:
• In the Budget proposed on 1st February 2017, what is the maximum limit imposed on cash transactions?
• Which of the following directors is NOT appointed by the Board of Directors?
• The balance in the reconstruction account is utilized for:
• Donation received by Non-Profit Organization for constructing college library is called:
• The policy of "anticipating no profits and providing for all possible losses" arises due to:
• In the proposed budget (2017-18), cash donation to a political party is maximum up to:
• A company's shares with a face value of Rs. 10 each are quoted at Rs. 60 in the stock market. Current rate of dividend is 6% and this is expected to grow a...
• An uncovered cost at the start of a year is Rs. 20,000. Full cash flow during the recovery year is Rs. 40,000, and years prior to full recovery are 3. Then...
• What is the formula for calculating Maximum stock level?
• Under which of the following accounting systems, real & nominal accounts are ignored?
• Provision for Bad & Doubtful Debt is created in anticipation of actual bad debts on the basis of:
• SA 500 refers to:
• The document containing the rules and regulations framed by the company for internal management of the company is called:
• An asset is purchased for Rs. 10,000, on which depreciation is to be provided annually according to the straight-line method. The life of the asset is 4 ye...