Q16. The following data are given: (Rs 000)
Fixed assets 5000
Other non- current assets 3000
Current assets 4000
Net worth 6000
Current ratio 2:1
The term liabilities will be -----(Rs 000)
1) Rs 4000
2) Rs 2000
3) Rs 1500
4) Rs 3000
Q17. Trademarks is a -----
1) Personal account
2) Real account
3) Nominal account
4) Representative personal account
Q18. Applying the rule of 72, an investment @ 9%
p.a. will double in ----- years
1) 8
2) 7
3) 9
4) 6
Q19. Which one of the following is not a main
feature of computerized accounting?
1) speed
2) accuracy
3) prevention of frauds
4) economy in cost of transactions
Q20. The journal entry on forfeiture of shares is
-----
1) Share capital a/c Dr
To calls in arrears a/c
To forfeited shares
2) Forfeited shares a/c Dr
Calls in arrears a/c Dr
To share capital a/c
3) Share capital a/c Dr
To forfeited shares a/c
4) Forfeited shares a/c Dr
To share capital a/c
Answers:
