Accounting MCQs — Test 11
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Question 1
From the following details what will be the partners commission? Net profit before charging partners commission 65,000. Partners commission @ 11% after charging such commission.
Question 2
From the following details what will be the partners commission? Net profit before charging partners commission 65,000. Partners commission 11% before charging such commission
Question 3
Arrangement of Balance Sheet in a logical order is known as __________?
Question 4
Which of the following equations is correct?
Question 5
Find the value of opening stock from the following data. Purchases 1,50,000, Closing stock 30,000 Sales 2,20,000, Gross profit 40,000.
Question 6
A Bill of Exchange is drawn on 1st April, 2018 payable after 3 months. The due date of the bill is?
Question 7
When bill discounted with the bank is dishonored?
Question 8
In the books of the drawer, the accounting treatment involved on receipt of a bill of exchange duly accepted by the drawee is?
Question 9
The noting charges levied on dishonour of an endorsed bill by the Notary Public are to be borne by
Question 10
The drawer of a trade bill passes relevant entries with regard to the transaction involved in it. But, in case of an accommodation bill, he passes an entry in addition to the usual entries. The additional entry so passed is with respect to