1) who make the bill ?

Ans :- Drawer
2)on who fill was made?
Ans:- Drawee
3) Before acceptance of the bills called
Ans:- Draft
4)The person or whom a bill is drawn?
Ans:-Drawee.
5)When the due date of bill false due on public holiday then payment must
made on
Ans:- proceeding day.
6) Nothing charges are borne by?
Ans:- Drawee
7) Nothing public is
Ans:- Government officer.
8)Three extra days is called
Ans:- Grace days!
9)Fees charged by notary public forgetting the fact of dishonour noted.
Ans:- Noting Charger
10)The officer appointed by government collecting the amount
Ans:- Noting charges.
11)Conversion of bills of exchange into present value is
Ans:- Discounting.
12)An amount Which is not recovered from the debtors’
Ans:-Bad debts.
13)Making payment of the bill before the due date is called .
Ans:- Retirement of Bill
14) A person who draw the bill of exchange is called
Ans:- Drawer
15) The primary document for recording all financial transactions in tally is the
a) Journal b) Trial Sheet c) Voucher d) file
16) fixed Deposit All comes under___________ group
A)Investment b) current liability c)bank a/c d) current assets
17)Gross profit ratio indicates the relationship of gross profit to this_________
a) Net – cash b) Net – sales c) Net – purchases d) Gross – sales
18) current ratio = ______________________
Current liabilities
a) Quick assets b) Quick liabilities c) current assets d) None of these
19) Liquid assets=_________________
a) current assets + stock b) current assets – stock c) current assets- stock +
prepaid d) None of these
20) cost of goods sold
a) sales- gross profit b) sales- net profit c) sales proceeds d) None of these
21) Net- profit ratio is equal to ______
a) operating ratio b) operating net- profit ratio c) gross profit ratio d) current
ratio
22) the common size statement requires
a) common base b) journal entries c) cash flow d) current ratio
23) Bill payable is________
a) long-term loan b)Current liabilities c) Liquid Assets d) Net loss
24) Generally Current Ratio Should be is_________
a)2:1 b) 1:1 c) 1:2 d) 3:1
25) From financial statement analysis the creditor are specially interested to
know
a) Liquidity b) profits c) sales d) share capital
26) The balance of Share Forfeiture A/c is transferred to ...................... account
after re-issue of these shares.
a) Reserve Capital b) Capital Reserve c) Profit & Loss d) Share capital
27) Shareholders get ...................... on shares.
a) Interest b) Commission c) Rent d) Dividend
28) The document inviting to subscribe the shares of a company is
......................
a) Prospectus b) Memorandum of Association c) Articles of Association d) Share
certificate
29) When shares are forfeited the Share Capital Account is ...................... .
a) credited b) debited c) Neither debited nor credited d) None of the above
30) The unpaid amount on allotment and calls may be transferred to
...................... account.
a) calls in advance b) calls c) calls in arrears d) allotment
31) There must be provision in ...................... for forfeiture of shares,
a) Articles of Association b) Memorandum of Association c) Prospectus d)
Balance Sheet
32) There are parties to bill of exchange.
a) five b) four c) three d) two
33) The person on whom a bill is drawn is called a
a) Drawee b) Payee c) Drawer d) Acceptor.
34) Before acceptance the bill is called a .
a) Order b) Request c) Draft d) Instrument.
35) When the due date of bill drawn falls due on a public holiday, the payment
must be made on the day.
a) Same b) preceding c) next d) any.
36) The due date of the bill drawn for 2 months on 23rd Nov. 2019 will be
a) 23rd Jan. 2020 b) 25th Jan. 2019 c) 26th Jan. 2019 d) 25th Jan. 2020
37) Notary Public is .
a) Govt. Officer b) Drawer c) Payee d) Endorsee
38) Nothing charges are borne by .
a) Notary Public b) Drawee c) Drawer d) Endorsee.
39) In case of dissolution, assets and liabilities are transferred to .............
Account.
(a) Bank Account (b) Partner’s Capital Account (c) Realisation Account (d)
Partner’s Current Account
40) In case of dissolution, assets and liabilities are transferred to .............
Account.
(a) Bank Account (b) Partner’s Capital Account
(c) Realisation Account (d) Partner’s Current Account
41) If any asset is taken over by partner from firm his capital account will be
.............
(a) Credited (b) Debited
(c) Added (d) Divided
42) If any unrecorded liability is paid on dissolution of the firm ............. account
is debited.
(a) Cash / Bank Account (b) Realisation Account
(c) Partners capital Account (d) Loan Account
43) Assets and liabilities are transferred to Realisation account at their .............
values.
(a) Market (b) Purchases
(c) Sale (d) Book
44) If the number of partners in a firm falls below two, the firm stands .............
(a) Dissolved (b) Established
(c) Realisation (d) Restructured
45) All activities of partnership firm cease on ............. of firm.
(a) Dissolution (b) Admission
(c) Retirement (d) Death
46) Death is a compulsory
a) Dissolution b) Admission c) Retirement d) Winding up
47) The ratio by which is existing partners are benefited .............................. .
a) Gain Ratio b) Sacrifice Ratio c) Profit Ratio d) Capital Ratio
48) The balance on the capital account of a partners, on his death is transferred
to
.............................. account.
a) Relatives b) Legal Heir’s loan / Executors’ loan
c) Partner’s capital d) Partners Loan
49) Decrease in the value of assets should be ................. to Profit and Loss
Adjustment
Account.
a) Debited b) Credited c) Added d) Equal
50) The balance of the capital account of retired partner is transferred to his
................. account
if it is not paid.
a) Loan b) Personal c) Current d) Son’s
A, B and C are sharing 1/2, 3/10, and 1/5 if A retire their new ratio will be
.................
a) 5:2 b) 3:2 c) 5:3 d) 2:5
51) A and b are two partners sharing profits and losses in the ratio of 3:2. They
de-
decided to admit c for 1/5th share, the new profit-sharing ratio will be
.......................
(a) 12:8:5 (b) 4:3:1 (c) 12:8:1 (d) 12:3:1
52) When goodwill is withdrawn by the partner .......................account is
credited.
(a)Revaluation (b) Cash / Bank (c) Current (d) Profit and Loss Adjustment
53) If asset is taken over by the partner .......................account is debited.
(a) Revaluation (b) Capital (c) Asset (d) Balance Sheet
54) Not for Profit Concern renders ............. services to public at large.
a) Commercial b) Social c) Individual d) Group
55) Donation for Scholarship Fund is .............
a) Capital Receipt b) Revenue Receipt
c) Capital Expenditure d) Revenue Expenditure
56) Income and Expenditure Account is a ........... Account
a) Capital b) Real c) Personal d) Nominal
57) Excess of Income over Expenditure is termed as ............
a) Deficit b) Profit c) Surplus d) Loss
8) Excess of expenditure over income is termed as ............
a) Deficit b) Profit c) Surplus d) Loss
59) The closing balance of Receipts and Payments account usually represent
.......
a) Closing stock b) Cash and Bank balance c) Surplus d) Deficit
60) Not for Profit Organization is also called ............. organization.
a) Service b) Trading c) Profit in making d) Commercial
61) Expenditure on Purchase of Building is a ........... Expenditure.
a) Capital b) Revenue c) General d) Recurring
62) To find out Net Profit or Net Loss of the business ..................... account is
prepared.
a) Trading b) Capital
c) Current d) Profit & Loss
63) A ..................... is an Intangible Asset.
a) Goodwill b) Stock
c) Cash d) Furniture
64) In the absence of an agreement, interest on loan advanced by the partner
to the firm is
allowed at the rate of .....................
a) 5% b) 6% c) 10% d) 9%
65) Liability of partners in a partnership business is ..................... .
a) Limited b) Unlimited
c) Limited and Unlimited d) None of the above
66) The Indian Partnership act is in force since .....................
a) 1932 b) 1881
c) 1956 d) 1984
67) Maximum number of Partners in a firm are ..................... according to
Companies Act
2013.
a) 10 b) 25
c) 20 d) 50

Find odd one

1. Wages, Salary, Royalty, Import Duty. .
2. Postage, Stationery Advertising, Purchases.
3. Capital, Bills Receivable, Resave SFund, Bank overdraft
4. Building, Machinery, Furniture, Bills payable.
5. Discount received, Dividend received, Interest received, Depreciation.
6. Trading Account, Profit and Loss Account, Receipts and Payments
Account, Balance Sheet.
7. Machinery, Furniture, Computers, Salaries.
8. Subscription, Stationery, Interest Received, Locker Rent received,
9. Reliance Industries, Venna Vidya Mandir, Laxmi Hospital, Manoj Sports
club.
10.Surplus, Deficit, Net Profit, Capital fund,
11.General reserve, Creditors, Machinery, Capital
12.Decrease in Furniture, Patents written off, Increase in Bills Payable, RDD
written off.
13.Super profit method, Valuation method, Average profit method,
Fluctuating capital method.
14. Retaining ,Noting , Discounting, Endorsing
15.Trade bill ,Accommodation bill
16. After date bill, Demand bill
17.Notary Public ,Drawer ,Drawee, Payee.
18.Discounting charges, Rebate, Bank charges ,Noting charges.
19.Stamp, Acceptance, Draft, Amount.