Accounting - Study Mode

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[#1106] Which of the following is not an accounting software?

(A) Tally

(B) Miracle

(C) Profit

(D) SPSS

Correct Answer

(D) SPSS

[#1107] At the time of death of a partner, firm gets . . . . . . . .

(A) policy amount

(B) surrender value

(C) Both A and B

(D) None of these

Correct Answer

(C) Both A and B

[#1108] Personal selling includes:

(A) Oral communication

(B) Face to face interaction

(C) Conversation with customers

(D) All of the above

Correct Answer

(D) All of the above

[#1109] Consider the following parties and arrange them in the correct sequence in the event of dissolution of a firm i. Secured creditors ii. Unsecured creditors iii. Partners who have granted loans iv. Partners who have contributed over and above profit-sharing ratio

(A) ii, i, iii, iv

(B) i, ii, iii, iv

(C) i, ii, iv, iii

(D) ii, i, iv, iii

Correct Answer

(B) i, ii, iii, iv

[#1110] If sales is Rs. 1,20,000, gross profit is $${frac{1}{3}^{{ ext{rd}}}}$$ of cost, purchase is Rs. 98,000 and closing stock is Rs. 18,000 then opening stock will be

(A) Rs. 10,000

(B) Rs. 8,000

(C) Rs. 0

(D) Rs. 40,000

Correct Answer

(A) Rs. 10,000