NET, IAS, State-SET (KSET, WBSET, MPSET, etc.), GATE, CUET, Olympiads etc.: Commerce MCQs (Practice_Test 9 of 99)
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- A company takes a loan of ₹ 70 lakhs on which it has to pay interest at the rate of 15% p. a.Company՚s return on investment is 25% before tax and the tax payable on net earnings is 60% . What gain accrues to the shareholders because of this loan?
- ₹ 2,40, 000
- ₹ 2,43, 000
- ₹ 2,77, 000
- ₹ 2,80, 000
- Equity shares represent owner՚s capital. Therefore, an equity shareholder
- has preferential claim over income and wealth of the company
- has residual claim over income and width of the company
- has no. Right over income and wealth of the company
- is personally liable for all the liabilities of the company even beyond his paidup capital
- Which one of the following is not true of GDR?
- It is an instrument issued abroad and is listed and traded on a foreign stock exchange
- A GDR may represent one or more shares of the issuing company
- It can be converted into equity shares at any time
- A GDR may represent either equity shares or debentures or preference shares
- A company must refund the amount of subscription received from the public including the development of the amount received is less than the mandatory minimum subscription. The mandatory minimum subscription is
- 75%
- 80%
- 90%
- 95%
- For a firm, the particulars are
Table Supporting: NET, IAS, State-SET (KSET, WBSET, MPSET, Etc.) , GATE, CUET, Olympiads Etc. : Commerce MCQs (Practice_Test 9 of 99) Stock ₹ 60,000 Debtors ₹ 45,000 Bill Receivable ₹ 12,000 Advances (Recoverable cash or kind) ₹ 4,000 Cash in Hand ₹ 40,000 Creditors ₹ 70,000 Bills Payable ₹ 45,000 Bank Overdraft ₹ 4,000 Net Sales ₹ 7,50, 000 Gross Profit ₹ 60,000 Net Profit ₹ 40,000 - The Current Ratio for the firm is, nearly
- 27: 20
- 17: 13
- 9: 7
- 11: 9
- The Current Ratio for the firm is, nearly
- Z is admitted in a firm for a share in the profits for which he brings ₹ 30,000 for goodwill. It will be taken away by the old partners X and Y in
- old profit-sharing ratio
- new profit-sharing ratio
- sacrificing ratio
- capital ratio
- Forty thousand 10% redeemable preference shares of ₹ 10 each are redeemed at a premium of ₹ 10 each by the issue o120000 equity shares of ₹ 10 each at a premium of ₹ 10 each. The amount transferred to Capital Redemption Reserve Account would be
- ₹ 1,80, 000
- ₹ 2,00, 000
- ₹ 2,20, 000
- ₹ 2,40, 000
- Consider the following two statements and select the correct answer using the codes given, below:
- The office supervisor is concerned with the overall managerial functions of the office activities.
- The office manager is concerned with guiding and directing the routing work assigned to his subordinates.
- Only 1 is correct
- Only 2 is correct
- Both 1 and 2 are correct
- Neither 1 nor 2 is correct
- A planned sequence of operations for handling recurring business transactions uniformly and consistently is known as
- System
- Procedure
- Routine
- Control
- The undertaking by insurer to compensate the insured for the loss caused to him by the damage or destruction of the property insured is under the
- principle of utmost good faith
- principle of insurable interest
- principle of indemnity
- principle of contingency
- In a draft Balance Sheet, the stock at valuation ₹ 1,00, 000 was shown on assets side. While finalizing the Balance Sheet, an item which was valued at ₹ 37,400 had realizable of ₹ 26,000 only.In the Profit and Loss Account, the stock would be shown at
- ₹ 62,600
- ₹ 88,600
- ₹ 1,00, 000
- ₹ 1,26, 000
- Consider the following statements: Capital expenditure is incurred for the purpose of
- Obtaining a long-term benefit for the business.
- Increasing earning capacity of the business.
- Purchasing of marketable securities.
- Acquiring of an asset in the business.
- Which of these statements are corrects?
- 1 and 4
- 1,2 and 4
- 2 and 3
- 3 and 4
- Which one among the following shall result in capital losses to a firm?
- Pilferage of certain items
- Loss of goods in transit
- Loss due to delay in delivery by port authorities
- Confiscation of goods by custom authorities on account of false declaration
- Which one of the following is the correct sequence regarding preparation of final accounts?
- Ledger-Trial Balance-Journal-Profit and Loss Account-Balance Sheet
- Journal-Ledger-Trial Balance-Profit and Loss Account-Balance Sheet
- Trial Balance-Ledger-Journal-Balance Sheet-Profit and Loss Account
- Journal-Trial Balance-Ledger-
- Profit and Loss Account-Balance
- Sheet
- A, B and C are equal partner. After distributing the loss on realization of assets and paying all liabilities, their capital accounts show the following balances
A- ₹ 10,000 (Cr.)
B- ₹ 4,000 (Cr.)
C- ₹ 14,000 (Dr.)
What is the amount of cash with the firm?
- ₹ 18,000
- ₹ 4,000
- ₹ 14,000
- ₹ 10,000