Q36. Calculate the profit made during the year under the Net Worth method:
Capital as on 1.4.2010 Rs. 80,000
Capital as on 31.03.2011 Rs. 1,00,000
Drawings made during the year Rs. 10,000
Profit for the year is -----
1) 20000
2) 30000
3) 25000
4) 10000
Q37. One of the ways to create complex but easy
to remember passwords is to -----
1) Words commonly found in the dictionary
2) Have a password having a minimum length of 4
characters with a mix of numerals, special characters & capital letters.
3) Take a known word or phrase and convert it
using numerals, special characters & capital letters
4) Use date of birth, address, telephone numbers
Q38. Leasing of vehicles, computers for temporary
periods are an example of ___________ lease
1) Finance
2) Service
3) Operating
4) None of the above
Q39. Return of goods from a customer should be
credited to -----
1) Purchase return account
2) Profit & Loss Account
3) Trading account
4) Customer account
Q40. Machinery purchased from Mr. X for Rs.
1,000,000. Which account is to be debited?
1) Machinery Account
2) Purchase Account
3) Cash Account
4) Mr. X Account
Answers:
