Bihar Board 12th Accountancy VVI Objective Questions Model Set 6 in English

Bihar Board 12th Accountancy Objective Questions and Answers

Bihar Board 12th Accountancy VVI Objective Questions Model Set 6 in English

Question 1.
Which of the following is not a source of cash ?
(a) purchase of fixed assets
(b) fund from operations
(c) issue of debentures
(d) sale of fixed assets
Answer:
(a) purchase of fixed assets

Question 2.
The ideal current ratio is
(a) 2:1
(b) 1 : 2
(c) 3 : 2
(d) 3 : 4
Answer:
(a) 2:1

Question 3.
The ideal debt equity ratio is
(a) 1 : 1
(b) 1 : 2
(c) 2 : 1
(d) 3:4
Answer:
(a) 1 : 1

Question 4.
Interpretation of financial statement includes
(a) criticism and analysis
(b) comparison and trend study
(c) drawing conclusion
(d) all of these
Answer:
(d) all of these

Question 5.
Dividends for the shareholders are
(a) payable tax amount
(b) tax free amount
(c) interest
(d) none of these
Answer:
(d) none of these

Question 6.
Debenture holder receives
(a) dividend
(b) profit
(c) interest
(d) none of these
Answer:
(c) interest

Question 7.
Profit of cancellation of ‘Own debenture’ is transferred to
(a) profit & loss appropriation A/c
(b) debenture redemption A/c
(c) capital reserve A/c
(d) none of these
Answer:
(c) capital reserve A/c

Question 8.
Debenture is the part of
(a) share capital
(b) loan
(c) owned capital
(d) creditor
Answer:
(b) loan

Question 9.
Debenture carries interest at
(a)12%p.a.
(b) 20%p.a.
(c) fixed rate
(d) 6%p.a.
Answer:
(c) fixed rate

Question 10.
A company isssues its shares at premium under which Section of Indian Companies Act, 1956 ?
(a) 78
(b) 79
(c) 80
(d) 81
Answer:
(a) 78

Question 11.
Interest on calls in arrears is charged according to’Table A’ at .
(a) 5%p.a.
(b) 6%p.a.
(c) 8%p.a.
(d) 11%p.a.
Answer:
(a) 5%p.a.

Question 12.
Realisation Account is a
(a) Personal A/c
(b) Nominal A/c
(c) Real A/c
(d) None of these
Answer:
(c) Real A/c

Question 13.
Expenses on dissolution of firm is called
(a) Realisation expenses
(b) Legal expenses
(c) loss expenses
(d) none of these
Answer:
(a) Realisation expenses

Question 14.
X,Y and Z share profits in the ratio of Vi: 1/3 : 1/6 . Z dies .New ratio of X and Y will be
(a) 3 : 2
(b) 2:3
(c) 2 : 1
(d) None of these
Answer:
(a) 3 : 2

Question 15.
The executors of deceased partner will be partner will be paid interest on the amount’due from the date of death of the partner at
(a) 5%p.a.
(b) 6% p.a.
(c) 7%p.a.
(d) 8%p.a.
Answer:
(b) 6% p.a.

Question 16.
A and B share profits and losses in the ratio of 3:1.C is admitted into partnership for ‘U share. The sacrificing ratio of A and B is
(a) equal
(b) 3 : 1
(c) 2 : 1
(d) 3 : 2
Answer:
(b) 3 : 1

Question 17.
A,B and C are equal partners in the firm. B retires and the remaining partners decide to share profits of the new firm in
the ratio of 5:4.Gaining ratio will be
(a) 2 : 1
(b) 1 : 2
(c) 4 : 5
(d) 5 : 4
Answer:
(a) 2 : 1

Question 18.
A, B and C are sharing profits in the ratio of 1/2 : 1/3 : 1/6. C retired.Gaining ratio will be
(a) 2 : 1
(b) 2 : 3
(c) 3 : 2
(d) 1 : 2
Answer:
(c) 3 : 2

Question 19.
Decrease in the value of fixed assets is termed as
(a) Depreciation
(b) loss
(c) profit
(d) expense
Answer:
(a) Depreciation

Question 20.
The excess of average profits over the normal profits are called
(a) Super profits
(b) fixed profits
(c) abnormal profits
(d) normal profits
Answer:
(a) Super profits

Question 21.
The ideal liquid ratio is
(a) 2 : 1
(b) 1 : 1
(c) 3 : 1
(d) 4 : 1
Answer:
(b) 1 : 1

Question 22.
In the absence of partnership deed, the partners will allowed interest on the merest on the advance amount paid to the firm at
(a) 5% p.a.
(b) 6% p.a.
(c) 7% p.a.
(d) 8% p.a.
Answer:
(b) 6% p.a.

Question 23.
In the absence of partnership deed,interest on capital will be given to the partners at
(a) 8% p.a
(b) 6% p.a
(c) 9% p.a.
(d) none of these
Answer:
(d) none of these

Question 24.
Outstanding subscription is a/an –
(a) income
(b) asset
(c) liability
(d) prepaid expense
Answer:
(b) asset

Question 25.
Payment of honorarium to secretary is treated as
(a) capital expenditure
(b) revenue expenditure
(c) cash expenses
(d) none of these
Answer:
(b) revenue expenditure

Question 26.
Realisation account is:
(a) Personal A/c
(b) Nominal A/c
(c) Real A/c
(d) None of these
Answer:
(c) Real A/c

Question 27.
Expences at the time of firm’s end is called
(a) Realisation A/c
(b) Legal expenses
(c) Lossess expenditure
(d) None of these
Answer:
(a) Realisation A/c

Question 28.
A company issues his shares on premium at Indian companies act, 1956 in which section:
(a) 78
(b) 79
(c) 80
(d) 81
Answer:
(a) 78

Question 29.
Debentures which is only given and becomes transferred is called
(a) Authorised debentures
(b) First debentures
(c) Bearer debentures
(d) None of these
Answer:
(c) Bearer debentures

Question 30.
According to SEBI’s advisory how much % be originated to redemption of debentures fund by any company before redemption of debentures ?
(a) 40%
(b) 50%
(c) 60%
(d) 70%
Answer:
(b) 50%

Question 31.
In open market purchase of debentures can’t be cancel immediately it is:
(a) current assets
(b) Current liabilities
(c) Investment
(d) Capital
Answer:
(c) Investment

Question 32.
It is not included in current assets
(a) Stock
(b)Cash
(c) Debtors
(d) Cars
Answer:
(d) Cars

Question 33.
Comparative analysis is also called
(a) Working analysis
(b) Vertical analysis
(c) Horizontal analysis
(d) External analysis
Answer:
(c) Horizontal analysis

Question 34.
Acid-test ratio is:
(a) 1:1
(b) 1: 2 .
(c) 2 : 1
(d) 2:3
Answer:
(a) 1:1

Question 35.
Cash flow statement is prepared :
(a) By balance sheet
(b) By profit & loss A/c
(c) Additional information
(d) All of these
Answer:
(d) All of these

Question 36.
Money received from a dead man’s legacy is called
(a) Legacy
(b) Honorarium
(c) Donation
(d) Subscription
Answer:
(a) Legacy

Question 37.
Payment of honorarium to secretary is:
(a) Capital expenditure
(b) Revenue expenditure
(c) Cash expenditure
(d) Deferred Revenue Expenditure
Answer:
(b) Revenue expenditure

Question 38.
An interest is to be given a partner to the firm in the absence of partnership deed.
(a) 5%
(b) 6%
(c) 8%
(d) 9%
Answer:
(b) 6%

Question 39.
An interest on capital will be given to the partners in absence of partnership agreement
(a) 5%
(b) 6%
(c) 8%
(d) None of these
Answer:
(d) None of these

Question 40.
Current account is :
(a) Personal A/c
(b) Real A/c
(c) Nominal A/c
(d) None of these
Answer:
(a) Personal A/c

Question 41.
Drawings of the partners debited to :
(a) Partners capital A/c
(b) Profit & loss A/c
(c) P & L appropriate A/c
(d) Revaluation A/c
Answer:
(a) Partners capital A/c

Question 42.
Interest on parter’s capital is to be credited
(a) Profit & loss A/c
(b) Realisation A/c
(c) Partners’Capital A/c
(d) Revaluation A/c
Answer:
(c) Partners’Capital A/c

Question 43.
Excess of real profit on general profit is called:
(a) Super profit
(b) Definite profit
(c) Abnormal project
(d) General profit
Answer:
(a) Super profit

Question 44.
A and B are the partners of profit is divided in 3 :1. They give a 1/4 part of profit in future and admitted in. New profit- distribution ratio is:
(a) Explanation/Working
(b) \(\mathrm{A} \frac{81}{16}: \mathrm{B} \frac{4}{16}: \mathrm{C} \frac{4}{16}\)
(c) \(A \frac{10}{16}: B \frac{2}{16}: C \frac{4}{16}\)
(d) \(A \frac{8}{16}: B \frac{9}{16}: C \frac{10}{16}\)
Answer:
(a) Explanation/Working

Question 45.
X and Y are partners of profit into 3 : 2. Z become partner for 1/5 share Z takes from X 3/20 and from Y 1/20. Then new profit ratio is:
(a) 9 : 7 :4
(b) 8 : 8 : 4
(c) 6: 10:4
(d) 10 : 6 : 4
Answer:
(a) 9 : 7 :4

Question 46.
A and B are the partners and divided their profit aiid loss in 3:1. C has to admitted in partnership for 1/4 share. Remaining ratio of A : B :
(a) Equal
(b) 3 : 1
(c) 2 : 1
(d) 3 : 2
Answer:
(c) 2 : 1

Question 47.
Excess of credit side on debit side in revaluation A/c :
(a) Profit
(b) Loss
(c) Received
(d) Expenses
Answer:
(a) Profit

Question 48.
Abhishek, Rajat and Vivek are the profit partners in 5:3 : 2 ratio. If Vivek retired from partnership then what is the new profit division ratio betweeen Abhishek and Rajat:
(a) 3 : 2
(b) 5 : 3
(c) 5 :2
(d) None of these
Answer:
(b) 5 : 3

Question 49.
When a partner retired from partnership then the capital A/ c of retired partner is to credited to:
(a) His/her goodwill’s
(b) From firm’s goodwill
(c) From remaining partner’s goodwill
(d) None of these
Answer:
(a) His/her goodwill’s

Question 50.
X, Y and Z are the partners divide profit in 1/2,1/3 and 1/6 ratio. Z died. New ratio of X and Y will be :
(a) 3 : 2
(b) 2 : 3
(c) 2 : 1
(d) None of these
Answer:
(b) 2 : 3