Test Details

MCQ 2

Final Accounts

Nov 09, 9:10 AM

50 minutes

Nov 09, 10:00 AM

38.0 marks

MCQ

14 questions

GAUR HARI SARKAR

Class Details

Account

XI Commerce

Account

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Question Text

Question 2 :
Steps of preparing Final Accounts is -<br>(a) Trading Account <br>(b) Profit and Loss Account<br>(c) Balance Sheet

Question 3 :
During the year $2014-2015$, the profit of a business before charging Sales Manager's commission was Rs. $1,89,000$. If the Sales Manager's commission is $5\%$ on profit after charging his commission, then the total amount of commission payable to manager is?

Question 4 :
Accounting entry for Manager's Commission (outstanding) on net profits will be made as _______________.

Question 5 :
The works manager gets commission of 10% on the profit after charging such commission. If the profit is Rs.2,200 what is the amount of his commission ?

Question 6 :
If the manager is entitled to a commission of $5\%$ on profits before deducting this commission, he will get a commission of Rs. __________ on a profit of Rs. 8400.

Question 7 :
The manager is entitled to a commission of 5% of net profit after changing such commission. <div>Profits before charging some commission is Rs. 21,000, find the commission ____________.</div>

Question 8 :
Net Profit of business before charging commission is Rs 110,000 and manager is entitled to get commission of net profit before charging commission 10% , the commission will be calculated as Rs. _________.<br/>

Question 9 :
The percentage of the commission is applied on the profit either:<br/>1. Before charging such commission <br/>2. After charging such commission.

Question 10 :
Del Credere commission is allowed to the consignee to bear __________.

Question 11 :
Discuss the accounting treatment of the following transaction:<div>Mr. Pankaj receives Rs. 1,500 per month as rent. In the year ending 31st March 2017, he received Rs. 22,000 as rent.</div>

Question 13 :
The effect of adjustment of depreciation on net profit will be that _____.

Question 14 :
If A = Annual Requirement, O = Order Cost and C = Carrying Cost per unit per annum, then EOQ __________.

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