Accounts – TEST 10 (MCQ Maharashtra-12th Board)

Accounts – TEST 10 (MCQ Maharashtra-12th Board)

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#1. Purchase of stationery is____________ expenditure

#2. In _____ book – keeping system, in every business transactions we find two accounts.

#3. For sports club, expenditure on the purchase of sports machinery / equipment’s is a ________

#4. Krishna and Balram, who are equal partners, admit Arjun into partnership for ¼ th share, their new profit sharing ratio will be

#5. Debit balance of current account of a partner appears on ________ side of balance sheet.

#6. The common size statement requires _________.

#7. _____ is acknowledgment of debt under common seal of company

#8. Interest on Calls – in = arrears is ________ for the company

#9. When shares are forfeited, share capital account is _______

#10. A person on whom a bill of exchange is drawn, is called as _______


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