Accounts – TEST 6 (MCQ Maharashtra-12th Board)

Accounts – TEST 6 (MCQ Maharashtra-12th Board)

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#1. Usually ________ is a major source of revenue income for ‘Not for Profit Concerns’

#2. If any unrecorded liability is paid on dissolution of the firm _______

#3. M.N.S. are partners in a firm having joint policy of Rs. 10,00,000 on which premium has been paid by a firm. M dies and his legal representatives want the whole amount of the policy where N and S want to distribute the amount among all the partners.

#4. If the goodwill is raised to the extent of retiring partners share _______ account is to be debited.

#5. Jay, Vijay and Ajay are three partners sharing profits in 3:2:1. They decided to admit Sanjay and give him 1/7th share, new profit sharing ratio of partners will be ______

#6. _______________ is a statement of balances of ledger accounts.

#7. The interest on capital of a partner is debited to _______ account.

#8. Bills payable is _______

#9. The debentures which are converted into shares is called ________

#10. The issue of debentures more than face value is called ________


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