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Accountancy Test - 20
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  • Question 1/10
    5 / -1

    Debenture redemption reserve is shown under the head 'shareholders' funds' and sub-head 'reserves and surplus' in the balance sheet of a company.

  • Question 2/10
    5 / -1

    Copyrights and patents are shown under the head ‘non-current liabilities’ and sub-head ‘other long-term liabilities’ in the balance sheet of a company.

  • Question 3/10
    5 / -1

    What will be the amount shown under the head current liabilities when the following data is given?

    Short-term borrowings = ₹ 3,00,000

    Trade Payables = ₹ 2,00,000 Other

    Current Liabilities = ₹ 1,00,000

    Short-term Provisions = ₹ 1,00,000

  • Question 4/10
    5 / -1

    Which of the following is not a sub-head under the current assets?

  • Question 5/10
    5 / -1

    The financial statements provide basic input for industrial, taxation and other economic policies of the government.

  • Question 6/10
    5 / -1

    Loose tools worth ? 5,000 appear under which of the following head/sub-head in a company’s balance sheet?

  • Question 7/10
    5 / -1

    Which of the following item can be presented on the asset side of the balance sheet of a company?

  • Question 8/10
    5 / -1

    What is the total under assets side of the balance sheet when the following information is given?

    Non-current Assets = ₹ 5,00,000

    Current Assets = ₹ 2,00,000

    Current Liabilities = ₹ 3,00,000

  • Question 9/10
    5 / -1

    Which of the following is not a part of finance cost (in the statement of profit and loss)?

  • Question 10/10
    5 / -1

    What will be the revenue from operations when the following data is available?

    Sales = ₹ 20,00,000

    Sales Return = ₹ 1,00,000

    Sale of Scrap = ₹ 40,000

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