CUET (UG) entrance exam Question Bank Solutions for Accountancy

What will be the interest on capital for C @ 6% p.a for A, B and C who have invested ₹ 15,000, ₹ 25,000 and ₹ 30,000 and share profits in the ratio 1 : 2 : 3?

How is Goodwill of the firm created?

Debentures are shown on the Balance sheet of a company under the head of ______

Debentures that do not carry any charge or security on assets of the company are known as ______

Consider the following statements.

Statement 1 - "Common size statements and financial ratios are the two tools employed in vertical analysis."

Statement 2 - "Common size statements are also as a component percentage statement

Common size statements are prepared ______.

The objective of the common size statement of profit and loss is not to ______.

Prabhu wants to know the main objective of Common Size Statement, help him to choose one:

What would be the journal entry of when excess capital was withdrawn by the partner?

A revaluation account is operated to find out the gain or loss at the time of ______

Debentures which are transferable by mere delivery are ______.

X Co. Ltd. purchased assets worth Rs.28,80,000. It issued debentures of Rs. 100 each at a discount of 4 per cent in full satisfaction of the purchase consideration. The number of debentures issued to vendor is ______.

Discount on issue of debentures is shown under the following head in the Balance Sheet?

When debentures are issued at par and are redeemable at a premium, the loss on such an issue is debited to ______.

Excess value of net assets over purchase consideration at the time of purchase of business is credited to ______.

When debentures are issued at a discount and are redeemable at a premium, which of the following accounts is debited at the time of issue?

The word 'debenture' has been derived from which Latin word (which means to borrow)?

Which of the following situations are commonly found in practice during the issue and redemption of debentures?

Premium on redemption is shown under which head until debentures are redeemed?

Which of the following given statement is correct.

Statement 1 - "Debenture is written instrument acknowledging a debt under the common seal of the company"

Statement 2 - Debenture is oral instrument acknowledging a debt under the common seal of the company"