Activity Base Practice Test 2021-22 Sub. :- Book Keeping & Accountancy

 Activity Base Practice Test 2021-22

Sub. :- Book Keeping & Accountancy

• Mark: 201 Std.: XII Com.

Q.1 A) Select the correct option & rewrite the sentence. 

1) The Indian Partnership Act is in force since ---...

a) 1932 b) 1981 c) 1956 d)1984

2) Not for profit organization is also called ...........- Organization.

a) Trading b) Profit Making c) Service d) Commercial.

3) When goodwill is withdrawn by the partner..... A/c. is credited. a) Revaluation b) Cash/Bank c) Current d) Profit & Loss Adjustment.

4) Death is compulsory-----------

a) Dissolution b) Admission c) Retirement d) Winding up.

5) Shareholders gets.......  on shares.

a) Interest b)Commission c) Rent d) Dividend

B) Write the word/term/phrase which can substitute each of the following statements.

1) Persons who forms the partnership firm ------------

2) Old Ratio - New Ratio =.......

3) Debit balance of Realization Account =.....

4) The person who purchase the shares of company......

 5) Expenses incurred on dissolution of firm.....

C) Find the odd one.

1) Machinery, Furniture, Computers, Salaries.

2) Discount Received, Dividend Received, Depreciation, Interest Received. 3) Surplus, Deficit, Net Profit, Capital Fund

4) Bills payable, Sundry Creditors, Bank Overdraft, Sundry Debtors.

5) General Reserve, Creditors, machinery, Capital.

D) Do you agree or disagree with the following statements. are forfeited shares capital

1) When shares account is credited. 

2) Realization loss is not transferred to insolvent partner's capital account.

3) Gain Ratio is calculated at the time of Admission of Partner.

 4) Balance Sheet is an Account.

5) On dissolution cash/ bank A/c. is closed automatically.