In th e a b s e n c e o f s p e c ific p ro v is io n in th e p a rtn e rsh ip d e e d a t w h a t ra te in te re s t o n c a p ita l o f th e p a rtn e rs w o u ld b e a llo w e d ? (a )@ 8% (b) @ 1 0% (c) @ 6% (d) N il In th e a b s e n c e o f s p e c ific p ro v is io n in th e p a rtn e rsh ip d e e d a t w h a t ra te in te re s t o n d ra w in g o f th e p a rtn e rs w o u ld b e a llo w e d ?

(a )@ 8% (b) @ 1 0% (c)@ 6% (d ) N il In th e a b s e n c e o f s p e c ific p ro v is io n in th e p a rtn e rsh ip d e e d a t w h a t ra te in te re s t o n a d v a n c e s g iv e n b y th e p a rtn e rs w o u ld b e a? w e d llo (a) @ 8% (b) @ 1 0% (c) @ 6% (d) N il In th e a b s e n c e o f s p e c ific p ro v is io n in th e p a rtn e rsh ip d e e d a t w h a t ra te s a la ry a n d re m u n e ra tio n w o u ld b e p a id to th e p a rtn e rs ? (a) @ R s. 1 5,000 P M (b) @ R s. 20,000 (c) N il (d) @ R s. 1 0,000 In th e a b s e n c e o f s p e c ific p ro v is io n in th e p a rtn e rsh ip d e e d h o w p ro fit a n d lo s s is s h a re d b y th e p a rtn e rs ? (a ) E q u a lly (b ) In th e ra tio o f c a p ita l (c ) A c c o rd in g to tim e d e v o te d . (d ) A c c o rd in g to q u a lific a tio n .

~ W h ic h o f th e s e s ta te m e n ts is tru e ? I _.t.. (a ) In te re s t o n c a p ita l is c re d ite d to c a p ita l a c c o u n t. (b ) In te re s t o n d ra w in g is c re d ite d to c a p ita l a c c o u n t (c ) S a la ry a n d re m u n e ra tio n p a y a b le to p a rtn e rs is d e b ite d to c u rre n t a c c o u n t. (d ) N o n e o f th e s e W h ic h o f th e s e s ta te m e n ts is tru e ? (a ) P a rtn e rs c u rre n t a c c o u n t c a n s h o w d e b it o r c re d it b a la n c e . (b ) P a rtn e rs c u rre n t a c c o u n t s h o w s o n ly c re d it b a la n c e . (c ) P a rtn e rs c u rre n t a c c o u n t s h o w s o n ly d e b it b a(d )nN e n e o f th e s e . la c o . T h e re a re th re e p a rtn e rs in Q afirm RP. , X is a d m itte d fn to th e firm w ith 1 J 4 th s h a re o f p ro fit w ith a nd a g u a ra n te e d p ro fit o f R s . 2 5 ,0 0 0 p .a .T h e firm 's to ta l p ro fit is R s ~ 8 .0 ,0 0 0 , w h a t a m o u n t w o u ld b e g iv e n to X a s h is s h a re o f p ro fit ? y th e firm b . " (a ) R S .2 5 ,O O O (b ) R s .2 0 ,0 0 0 (c ) R S .1 5 ,O O O (d ) R S .2 2 ,5 0 0 s~""c,l f "r ... . u In '" ';o n N c 3 ,'f P "s a g u "'~ n"+(:' .... r"n + ''',J r"l;+ + .V '"'''H' m u c h p ro l;t "'o1.,0 "ld the q ue

g iv e n to P in th e in s ta n t c a s e ? .. (a ) R s . 2 0 ,0 0 0 (b ) R s . 2 1 ,6 6 7 (c ) R s . 1 5 ,0 0 0 (d ) R s . 2 2 ,5 0 0 In th e q u e s tio nB if o . e firm s to o d a s a g u a ra n to r o f g u a ra n te e d p ro fit to X , h o w m u c h p ro fit w o u ld b e N th g iv e n to re m a in in g p a rtn e rs in th e in s ta n t c a s e ? (a ) R s . 2 0 ,0 0 0 (b ) R s . 2 1 ,6 6 7 (c ) R s . 1 8 ,3 3 3 .3 3 (d ) R s . 2 2 ,5 0 0 P ro d u c t m e th o d is u s e d fo r: (a ) d is t,rib t;iio n o f p ro fit a ncd lo s s N (b ) d is trib u tio n o f re v a lu a tio n re s u lts (c ) in te re s t o n d ra w in g : (d ) in te re s t o n c a p ita l In w h ic h o f th e fo llo ases a p ita l leo f a p a rtn e i w ill n o t b e d e b ite d c w in c g A (a ) p ro fit in re v a lu a tio n o f a s s e ts a n d lia b)ility g o ff g o o d w ill (b w ritin (c ) d is trib u tio n o f p ro fit a n d lo s s d e b it b a la n c e (d ) re v a lu a tio n lo s s C u rre n t C a p ita l o f th e p a rtn e rs a re o p e n e d w h e n : / / (a ) C a p ita l is flu c tu a tin g '(b ) C a p ita l is fix e d (c ) C a p ita l is fix e d a s w e ll flu c tu a tin g ". (d ) W h e n fre s h c a p ita l is a d d e d T h e a d d itio n a l a m o u n t b ro u g h t b y a n in ~ o m in g p a rtn e r' a t th e tim e o f h is a d m is s io n is c a lle d ... (a ) G o o d w ill (b ) P re m iu m " (c ) B o ~ u s (d ) D o n a tio n G u a ra n te e d p ro fit is g e n e ra liy g iv e n to ... (a ) In c o m in g p a rtn e r (b ) R e tirin g p a rtn e r (c ) H e irs o f a d e c e a s e d p a rtn e r (d ) A ll th e th re e T h e d iffe re n c e b e tw e e n th e g u a ra n te e d p ro fit a n d a c tu a l s h a re o f p ro fit is b o rn e b y ... (a ) A ll th e p a rtn e rs e q u a lly (b ) A ll th e p a rtn e rs in th e ir p ro fit s h a rin g ra tio ' (c ) T h e p e rs o n s w h o g a v e g u a ra n te e (d ) C e n tra l G o v t. In te re s t o n d ra w in g o f th e p a rtn e rs is a ... (c (a ) L o s s to b u s in e s s (b ) 'P ro fit to b u s in e ;> s ) P ro fit to p a rtn e rs (d ) L o s s to b a n k In te re s t o n c a p ita l o f p a rtn e r is a ... " (a ) L o s s to b u s in e s s . (b ) P ro fit to b u s in (cs) sL o s s to p a rtn e rs (d ) L o s s to T a x d e p a rtm e n t e P a n dQ a re tw o p a 'rtn e rs s h a rin g p ro fit a n d lo s s e q u a lly . P d ra w R s .a 2 hm0o0n tht fo re e n d ~ \f e c ,0 a th 6 m o n th s w h e Q d ra w R s . 1 ,0 0 0 a t th e b e g in n in g o f e a c h m o n th fo r s ix m ~ n t~ s . A s s u m in g th a t re a s in te re s t o n d ra w in .g is to b e c h a rg e d @ 6 % p .a . In tepew illobne d ra w in g o f r st . (a ) R s , 1 5 0 (b ) R s . 8 0 (c ) R s . 8 6 " (d ) R s . 9 0 In te re s t o n d ra w Q g illf b e in w o (a tR s . 1 0 5 " .. '" .{b ) R s . 1 0 0 ~~i~~ .~~""._

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In th e tria l b a la n ce o f a fin n ~ n ia g e e x p e n s e s s h o w s a d e b it b a la n c e o f R s .t t4 ,5 0 0 . In o o ju s tm e n t is m e n tio n e d th a t 1 0 % c a rria g e e x p e n s e is o u ts ta n d in g . W h a t is th e a m o u n t o f o u ts ta n d in g c a rT ia g e ? a) R s. 450 b) R s. 500 c) R s . 5 4 0 d) R s. 405 W h e re w o u ld ud is c lo se d e a d s to ck o f R s . 3 0 0 in fin a l a cc o u n ts , w h ich is g iv e n in tria l b a la n c e , yo a ) D e b it to tra d in a a cco u n t b ) C re d it to T ra d in g a c"o lJn t c ) D e b n to P ro fit a n d L o s s a c co u n t d ) A s s e ts S id e T o ta l o f c re d it h o te b o o k is u n d e r c a s t b y R s . 2 ,0 0 0 . W h a t w ill b e a cc o u n tin g e ffe c t o f th is a d ju s tm e n t? a ) T o b e a d d e d to p u rc h a seb ).T o b e a d d e d to p u rc h a se s a n d c re d ito rs b o th s c) T o b e a d d e d to s a le s ,'d ) T o b e a d d e d to s a le s a n d d e b to rs b o th T h e c o s t p ric e o f c lo s in g s to ck is R s . 2 0 ,0 0 0 . O u t o f w h ich m a rk e t v a lu e o f 1 0 % s to ck is 2 0 % le s s . W h ile m a rk e t va lu e o f 2 0 % s ro c k is 1 0 % m ~ re ? W h a t w ill b e th e v a lu e o f c lo s in g s to ck ? a ) R s . 2 0 ,0 0 0 b ) R s . 1 9 ,6 0 0 c } R s . 2 2 ,0 0 0 d ) R s . 1 8 ,0 0 0 T h e b a l~ n C e o f le a s e h o ld b u ild in g o n 3 1 1 1 2 /0 6 is R s . 7 0 ,0 0 0 (A c q u ire d o n 1 -7 -2 0 0 4 fo r 5 y e a rs ) W h a t a m o u n t w ill b e w ritte n o f d u rin g th e y e a r. a ) R s . 1 4 ,0 0 0 b ) R s . 7 ,0 0 0 c } R s . 3 ,5 0 0 d ) R s . 2 0 ,0 0 0 W H e re w o u ld y o u d is c lo s e th e a m o u n t o f d e p re c ia tio n o n fa c to ry b u ild in g w h ic h a p p e a rs th e tria l b a la lc e ? a ) D e b ite d to P ro fit a n d L o s s a c c o u n t b ) D e b ite d to T ra d in g a cc o u n t c ) S u b tra cte d fro m b u ild in g a c co u n t in th e B /S d } D e b ite d to p ro fit a n d lo s s a p p ro p ria tio n a c c o u n t. C .a rria g e e x p e n se p a id is R s . 9 0 0 . 1 /3 c a rria g e e x p e n s e is o u ts ta n d in g . T h e p ro p o rtio n o f ca rria g e in w a rd a n d o u tw a rd is 2 : 3 . W h a t w ill b e to ta l ca rria g e in w a rd ? ' a) R s. 400 b} R s. 540 c) R s. 810 d) R s. 300 T h e a c c o u n tin g y e a r o f th e firm e n d s o f 3 1 -3 -2 0 0 6 a n d firm h a s re c e iv e d R s . 1 0 ,0 0 0 a s c a n d id a te s p re m iu m o n 1 -1 0 -2 0 0 5 fo r 2 x 1 /2 y e a rs . W h a t a m o u n t W ill b e s h o w n a t lia b ility s id e o f 8 /s . a s a d va n c e p re m ? m iu a ) R s . 1 0 ,0 0 0 b ) R s . 4 ,0 0 0 c) R s . 8 ,0 0 0 . d) R s. 2000 In tria l b a la n c e o f afufirm ref R s . 9 0 0 0 a n d d e p re c ia tio n o n fu rn itu re o f R s . 1 0 0 0 a re s h o w n , rn itu o W h a t W ill b e th e to ta l a m o u n t o f d ~ p re c ia tio n if d e p re cia tio n ra te is in c re a s e d b y 2 % ? a ).R s .1 ,0 0 0 b } R s . 12 0 0 1 c } R s . 1 ,0 2 0 d) R s. 180 T h e a c c o u n tin g y e a r o f th e firm is:1e n d in g 0 0 6 . In s u ra n ce p re m iu m R s . 1 ,8 0 0 is p a id fo r th e C 3 1 -3 -2 y e a r e n d in g o n 3 0 '-0 6 -2 0 0 6 , W h a t a m o u n t o f p re p a id in s u ra n ce w il p e s h o w n o n th e a s s e ts s id e o f B a la n c e s h e e t? a) R s. 600 b) R s. 450 c ) R s .1 ,3 5 0 d ) R s . 1 ,2 0 0 W h ic h o f th e fo llo w in g e xp e n s e s is th e fin ia n cia l e xp e n s e o f a firm ? a ) R e n ta n d ta x e s b ) S a la ry c ) In te re s t o n C a p ita l d ) In te re s t o n d ra w in g s . W h ic h o f th e fo llo w in g e xp e n s e is n o t s e llin g a n d d is trib u tio n e x p e n se ? a ) C a rria g e in w a rd b ) C a rria g e o u tw a rdc ) P a c k in g E xp e n s e s d ) S a la ry o f S a le s m a n

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1 3 W h ic h o f th e fo llo w in g ~ s se ts is a c u rre n t a s s e r? . d ) B ills R e c e iv a b le a ) B u ild in g b ) M a c h in e c ) P a te n t 14. W h ic h o f th e fo llo w in g a s s e ts is n o t a fix e d a s s e ts(d ) ? R b u 2 ,O g O a ) V e h ic le s b ) G o o d w ill c ) le a s e h o ld s .1 ild in O d } S to c k o f g o o d s 15. W h ic h o f th e fo llo w in g e x p e n s e s is a n a d m in istra tiv e e x p e n s "e s ? a ) In te re s t o n c a p ita l b ) B a d d e b ts c ) D e p .o n fu rn itu re d ) S a la ry o f e m p lo y e e s . [A n s w e rs (b ), 2 (d ), 3 (a ), 4 (b ), 5 (d(b ),(b ) , ), '9 (b ), 11 1 (c ), 2 (a ), 3 (d ), 1 4 (d ), 1 5 (d )] 1: 7 ),6 8 (c 0 (b ),1 1

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W h ic h o f th e fo llo w in g a s s e t is a fix e d a s s e t? (d ) F in a)nInia u e xn c e s e s (d ) F u rn itu re (a ) In v e s tm e n t. (b ) S to c k (c c s l ra p e n c o . . W h ic h o f th e fo llo w in g e x p e n se is(d ) e fine rne x pleenxspeesn 's e o f a firm ? th O th a c ia 2 . (a ) W a g e s a n d S a la ry (b ) C a rria g e o u tw a rd te re s t o n lo a n . (d ) In te re s t o n in v e s tm e n t (c ) In W h ic h o f th e fo llo w in g a s s e t is a (bu) rrein a n c iae t?x p e n s e s c F nt ass l e 3 n . (a )G O iJ o w r u (b )lO lJ,jeO O l : > (c ) S e(llin ga sexhpoelc ii'u jicili (d ) :ii'vz~ tm ~ o ~ t l;)le e Pses O n w h ic h a m o u n t o f d e b to rs , d is c o u n t re s e rv e o n d e b to rs w ill b e c a lc u la te d ? 4. (a ) T o ta l d e b to rs (b )D o u b tfu e b to rs dl (c ) G o o d d e b to rs (d ) B a d d e b to rs W h e re w o u ld y o u d is c lo s e th e a m o u n t o f d e p re c ia tio n o n fa c to ry m a c h in e ry w h ic h is g iv e n in m a 5. b a la n c e ? (a ) D e b ite d to T raA le g d in (b ) D e b ite d to P ro fit a n d L o s s A lc (c ) D e b ite d to P ro fit a n d L o s s A p pAro p riaS u n tra c te d fro m m a c h in e ry W h e re le(d ) tio b 6 w o u ld y o u d is c lo s e o u ts ta n d in g c atria b a la.no fe in fin a l a c c o u n t? rrialg e s c . (a ) D e b it s id e o f T ra d in g a c c o u n t (b ) D e b it s id e o f P ro fit a n d lo s s a c c o u n t (c ) L ia b ilitie s s id e o f B a la n c e s h e e t (d ) A s s e ts S id e o f B a la n c e s h e e t W h ic h re s e rv e is c re a te d o n d o u b tfu l d e b to rs ? . (a ) B a d d e b ts (b ) B a d d e b ts re s e rv e ) D is c o u n t re s e rv e (d ) G e n e ra l R e s e rv e (c 8 W h ic h a c c o u n t is p re p a re d to fin d o u t d iv is ib le p ro fit? (a ) T ra d in g a c c o u n t .' (b ) P ro fit a n d lo s s a c c o u n t (c ) P ro frt a n d lo s s a p p ro p ria tio n a c c o u n t ) In c o m e a n d E x p e n d ~ u re a c c o u n t (d 9 W h ic h o f th e fo llo w in g e x p e n se is n o t s e llin g a n d d is trib u tio n e x p e n s e s (a ) S a la ry o f s a le s m a n (b ) D is c o u n t(c )lloa rria g_e o n p u rc h a se s (d ) C a rria g e o n s a le s a C w ed 10 W h ic h o f th e fo llo w in g a s C U it is ia s s e ts ? ' s e nm a .' _ (a ) G o o d w ill {b } M o to r-c a r (c ) D e b to rs (d ) In v e s tm e n t 11 In p a rtn e rsh ip , g e n e ra lly to w h ic h a c c o u n t th e b a la n c e o f th e p ro fit a n d lo s s a p p ro p ria tio n a c c o u n t is tra n s fe rre d ? . (a ) P a rtn e r's c a p ita l a c c o u n t (b ) P a rtn e r's d ra w in g s a c c o u n t (c ) P a rtn e r's lo a n a c c o u n t (d ) P a rtn e r's b a n k a c c o u n t 1 If th e d e a d s to c k is g iv e n in th e tria ! b a la n c e , th e n w h e re w o u ld y o u d is c lo s e in fin a l a c c o u n t? 2 _ (a ) C re d it s id e o f T ra d in g a c c o u n t (b ) C re d it s id e o f P ro fit a n d lo s s a c c o u n t (c ) A s s e ts s id e o f B a la n c e sh e e t (d ) L ia b ilitie s s id e o f B a la n c e s h e e t 13 . W h e re w ill y o u s h o w c re d it b a la n c e o f s u s p g iv s e a triaol u natla n c e in fin a l a c c o u n ts o f en en cc b in p a rtn e rs h ip firm ? (a ) C re d it s id e o f T ra d in g a cc o u n t (b ) C re d it s .id e o f P ro fit a n d lo s s a c (:o u n t (c ) C re d it s id e o f P a n d L a p p roleria tio n (d ) C a p ita l - lia b ilitie s s id e o f B a !a n c e s h e e t ap 1 In tria ! b a la n c e o f a firm s h o w s s a la ry o f R s 1 6 ,0 0 0 . In a d ju s tm e n t it % sm lan tio n e d th a t 2 0 is a e ry 4 is o u ts ta n d in g . W h a t is th e o m o ulnst a la ry ? a fto ta (d ) R s .2 0 ;O O O (a )R S .1 9 ,2 0 0 . (b )R s .1 2 ,8 0 0 - ( r ;)R s .3 ,2 0 0

C a rria g e e x p e n s e p a id is R s 1 8 ,0 0 0 . T h e p ro p o rtio n o f c a rria g e in w a rd a n d o u tw a rd is 4 :5 . W h a w ill b e a m o u n t o f c a rria g e o u tw a rd ? (a ) R S .9 ,0 0 0 (b ) R s .8 ,0 0 0 (c ) R s .1 0 ,0 0 0 W h a t is in te re s t o n in v e s tm e n t o f p ro v id e n t fu n d fo r b u s in e s s ? (a ) In c o m e (b ) E x p e n s e (c) A s s e t (d ) L ia b ility W h e re w o u ld y o u d is clo s e T ra d e e xp e n s e in fin a l a c co u n ts , w h ic h is g iv e n in tria l b a la n ce ? (a ) T ra d in g a c co u n t (b ) P ro fit a n d lo s s a c co u n t (c ) C u rre n t a cc o u n t (d ) P ro fit a n d lo s s a p p ro p ria tio n a cc o u n t W h ic h typ e o f e x p e n s e is a n in co m e ta x ? (a ) A d m in is tra tiv e e xp e n se s (e ) P u rc h a s e e xp e n s e s W h ich typ e o f e xp e n s e s is a ro y a lty ? (a ) P u rc h a s e e x p e n s e s (c ) A d m in is tra tive e x p e n s e s . A t w h a t p ric e c lo s in g s to c k w ill b e v a lu e d ? (a ) C o s t p ric e (c ) C o s t p ric e o r th e m a rk e t p ric e w h ic h e ve r is lo w e r (b ) M a rk e t p rice . (d ) C o s t p ric e o r th e m a rk e t p rice w h ic h e ve r is m o re In p a rtn e rsh ip , g e n e ra lly to w h ic h a cc o u n t th e b a la n c e o f th e firm 's p ro fit a n d lo s s a cc o u n t is tra n s fe rre d ? . (a ) P a rtn e r's C a p ita l A lc (c ) P ro fit a n d lo s s a p p ro p ria tio n A lc (b ) P a rtn e r's C u rre n tA lc (d ) B a la n c e s h e e t o f th e firm P ro fit a n d L o s s A p p ro p ria tio n A c co u n t th ea p a rt o f is (a ) T ra d in g A c co u n t (b )P ro fit a n d L o s s A c co u n t (c ) B a la n c e S h e e t (d ) P a rtn e r's C a p ita l A c c o u n t W h ic h is th e m a in o b je c t o f p re p a ra tio n o f P ro fit a n d L o ss A cc o u n t? (a ) T o a s c e rta in th e N e t p ro fit o r N e t lo(bs T o a s c e rta in th e G ro s s p ro fit o r G ro ss lo s s s) (c ) T o a s c e rta in th e D iv is ib le p ro fit o r D ivis ib le lo s s (c) T o k n o w th e fin a n cia l s ta tu s o f th e firm H o w is th e R e s e rve fo r D is c o u n t o n c re d ito rs s h o w n in B a la n ce S h e e t? (a ) A d d e d in to c re d ito rs (b ) D e d u c te d fro m d e b to rs (c ) D e d u c te d fro m c re d ito rs (d ) D e d u c t~ d fro m d is c o u n t re ce ive d W h ic h re s e rv e is c re a te d o n g o o d d e b to rs ? (a ) B a d d e b ts re s e rv e (b ) G e n e ra l re s e(c )eD is c o u n t re s e rv e (d ) C a p ita l re s e rv e rv If th e c lo s in g s to c k is g iv e n in th e tria l b a la n c e , th e n w h e re w o u ld y o u d is c lo s e in fin a l a c c o u n ts ? (a ) C re d it s id e o f T ra d in g A lc (b ) C re d it s id e o f P ro fit a n d .L o s s 'A le . (c ) A s s e ts -D e b ts s id e o f B a la n ce s h e e t(d ) C a p ita l-L ia b ilitie s s id e o f B a la n c e s h e e t C re d it b a la n c e o f p a rtn e r's c u rre n t a cc o u n t is s h o w n in ... (a ) A s s e ts -D e b ts s id e o f th e B a la n c e s h e)eC a p ita l-L ia b ilitie s s id e o f th e B a la n ce s h e e t (b t (c ) C re d it s id e o f th e P ro fit a n d L o s s . A le) C re d it s id e o f th e P ro fit a n d L o s $ A p p ro p ria tio n (d A lc H o w is th e In te re s t o n P .F . In v e s tm e n t s h o w n in B a la n ce s h e e t? (a ) A d d e d in to P .F . In v e s tm e n t (b ) A d d e d in to P .F . (c) A d d e d in to P .F . C o n trib u tio n (d ) A d d e d in to In te re s tA /c W h e re w ill y o u s h o w o u ts ta n d in g w a g e s .g iv e n in tria l b a la n c e in fin a l a cc o u n ts o f p a rtn e rs h ip firm ? (a ) D e b it s id e o f T ra d in g A lc . (b ) D e b it s id e o f P ro fit a n d L o s s A le (c ) A s s e ts - D e b ts s id e o f B a la n c e s h e e t C a o ita l-L ia b ilitie s s id e o f B a la n c e s h e e t (d)

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