Accounting - Practice Test

[#2181] The minimum application money to be paid as per SEBI shall not be more than:

(A) 15% of the issue price

(B) 20% of the issue price

(C) 25% of the issue price

(D) 30% of the issue price

Correct Answer

(C) 25% of the issue price

[#2182] Unclaimed dividends should be shown in the balance sheet of a company under the heading of:

(A) Reserve and Surplus

(B) Provisions

(C) Current Liabilities

(D) Miscellaneous Items

Correct Answer

(C) Current Liabilities

[#2183] Which one of the following pairs is not correctly matched

(A) Suppression of Invoices ⇔ External decoradtion

(B) Surchage deprecition ⇔ Secret reserve

(C) Debtors cash receipt ⇔ Reduction of fund sales

(D) Deletion of credit sales ⇔ Understatment of liabilties

Correct Answer

(A) Suppression of Invoices ⇔ External decoradtion

[#2184] Which of the following is a Personal Account:

(A) Investment

(B) Commission

(C) Outstanding salary

(D) Share premium

(E) Pre-paid Salary Account

(F) Drawings Account

(G) Outstanding Rent Account

(H) All of the above

Correct Answer

(C) Outstanding salary
(H) All of the above

[#2185] Which of the following is an intangible asset?

(A) Furniture

(B) Patent

(C) Investment

(D) Losse tools

Correct Answer

(B) Patent

Accounting - Study Mode

[#2181] The minimum application money to be paid as per SEBI shall not be more than:

Correct Answer

[#2182] Unclaimed dividends should be shown in the balance sheet of a company under the heading of:

Correct Answer

[#2183] Which one of the following pairs is not correctly matched

Correct Answer

[#2184] Which of the following is a Personal Account:

Correct Answer

[#2185] Which of the following is an intangible asset?

Correct Answer