•ACCOUNTANCY

(Top Questions)
Chap-1 [Accounting for partnership firm]

2 MARK

Q.1 Write the definition of partnership

as per the partnership act, 1932?

Q.2 What is the rights of a partner? Write any two.

Q.3 What is meant by divisible profit?

Q.4 Specify any two rules applicable in the absence of partnership.

Q.5 Discuss the following definitions of partners.

4 MARKS
Q.1 Differences between Fixed and fluctuating capital.

Q.2 Explain characteristics of partnership? (Any-4)

Q.3 Discuss the points apply in the partnership deed.

Q.4 Write main objectives of preparing profit and loss appropriation a/c.

Q.5 How to interest calculate on drawing under Profit method?

UNIT-II

3 MARKS
(Chapter-2=Reconstitution of partnership firm)

Q.1 What is the nature & characteristics of goodwill?

Q.2 Write the

differences between sacrificing and gaining ratio.

Q.4 Distinguish between Normal or Super profit.

Q.5 Explain the legal status of new partner.

(Chapter-3=Admission of a new partner)

Q.1 Explain different methods of valuation of goodwill.

Q.2 Explain the

causes of admission of a new partner.

Q.3 What are main

rights required by a new partner?

Q.4 Discuss the

needs or condition of admission of new partner.

Q.5 What is meant by change in Profit sharing ratio by old partner.

UNIT-III

(Chapter-4= Retirement or death of partner)

2 Mark

Q.1 What is

meant by Settlement on retirement of partner?

Q.2 Under what circumference can a

partner retire from the firm?

Q.3 Explain the legal status of the retiring partners.

Q.4 Write causes of retirement of partner.

Q.5 Define:- •Annuity •Internal reserves

4 Marks

Q.1 Explain in detail

Treatment of goodwill on retirement.

Q.2 How due amount to retiring partner calculated?

Q.3 Under which conditions

a partner retire from a partnership firm.

Q.4 Write the adjustment of capital account on retirement of partner.

Q.5 State differences between retirement and death of a partner.

•BONUS QUESTIONS

Q.1 Explain the procedure of determining the amount payable to a retiring partner.

Q.2 Describe the Calculation of profit on time and Sale basis.

Q.3 Explain the various methods of Payments for the final claims to the outgoing or retired partner.

(Chapter-5=Dissolution of partnership firm)

Q.1 What is compulsory dissolution?

Q.2 What do you understand by dissolution of partnership?

Q.3 Name the Accounts which are not allowed to transfer realisation account on dissolution of firm.

Q.4 What do you mean by dissolution by agreement?

Q.5 Define:- •Realisation Account •Revaluation Account

Q.6 Explain dissolution of partnership firm.

Q.7 Show the transfer of assets and liabilities of dissolution of firm.

Q.8 Specify the dissolution by notice.

Q.9 Write the Reasons or conditions of dissolution of partnership firm.

Q.10 Write any two circumstances for dissolution by court.

UNIT-IV

(Chapter-6=Accounting for Share capital)

2 Mark

Q.1 What is company According to Indian company act 2013?

Q.2 What do you mean by forfeiture of shares.

Q.3 Explain private company.

Q.4 Write the uses of Securities premium reserves.

Q.5 Explain: •Calls in advance •Calls in arrears.

Q.6 Define Premium.

Q.7 What do you understand by shares?

Q.8 Why shareholders surrender of shares?

Q.9 Explain Share and Stock.

Q.10 Specify: •Under subscription •Over subscription

4 Marks

Q.1 Differences between

Equity share and preferences share.

Q.2 Discuss different kinds or types of preference shares.

Q.3 Discuss the characteristics of company.

Q.4 Explain the Types of capital of a company.

Q.5 Differences between Memorandum and Article of association.

Q.6 Write valid reasons for forfeiture of shares.

Q.7 State differences between Authorised capital and issued capital.

Q.8 Differences between Shares and Stocks.

Q.9 Explain main objectives of prospectus.

Q.10 Write procedures and effects of forfeiture of shares.

(Chapter-7=Issue of debentures)

2 Mark

Q.1 Explain meaning of Debenture.

Q.2 What is the procedures of debenture issue.

Q.3 What is unsecured debenture.

Q.4 Discuss the legal status of debenture holders.

Q.5 Give definitions: •Registered debenture •Nacked Debenture

BONUS QUESTIONS

Q.1 Explain the Issue of debentures at premium.

Q.2 Write the main objectives of issue of debentures.

Q.3 What is the features or characteristics of Debenture.

3 Marks

Q.1 Differentiate between Share and debentures.

Q.2 Distinguish between Shareholders and debentureholder.

Q.3 Give types of debenture on the basis of security.

Q.4 .Write utility of debentures.

Q.5 Show different types of debentures on the basis of conversation.

 BONUS QUESTIONS

Q.1 Mentioned types of debenture on the basis of ownership?

Q.2 Describe the different types of debentures.

UNIT-V

Chap-8 [Financial statements of a company]

Q.1 Explain main objects of financial statement.

Q.2 Explain main utilities of financial statement of a company.

Q.3 Explain in details financial statement.

Q.4 Write the importance of financial statement.

Q.5 Write the limitations of financial statement.

CHAPTER-9

•Analysis of financial statements

3 MARKS

Q.1 Explain main objects of Analysis of financial statement.

Q.2 Name the tools of analysis of financial statement.

Q.3 Write significance or importance of analysis of financial statement.

Q.4 What do you mean by analysis of financial statement.

Q.5 Discuss limitations of analysis of financial statement.

CHAPTER-10

(Accounting Ratio)

2 Mark

Q.1 What do you mean by Ratio analysis.

Q.2 Give the names of current liabilities.

Q.3 What is meant by liquidity Ratio.

Q.4 How would you calculated cost of goods sold?

Q.5 Write advantages or limitations of accounting ratio.

BONUS QUESTIONS

Q.1 What is meant by shareholder funds?

Q.2 Write the names of activities ratio.

Q.3 Explain Solvency ratio.

Q.4 What do you understand by long term loans?

Q.5 Discuss:

•Current liabilities & assets •Quick & Net profit Ratio.

UNIT-VI

CHAPTER-11

(Cash flow statement)

2 Mark

Q.1 What is cash flow statement?

Q.2 What is the meaning of Operating Activities?

Q.3 Write the definition of investing activities.

Q.4 How many methods are for preparation of cash flow.

Q.5 Explain:

•Cash equivalents •Cash inflow & outflow

 BONUS QUESTIONS

Q.1 Write examples of cash flow from operating activities.

Q.2 State cash and cash equivalents.

Q.3 Write the Characteristics of cash flow statement.

4 MARKS

Q.1 Discuss the Limitations of cash flow statement.

Q.2 Explain the Direct method of cash flow.

Q.3 Distinguish between Cash flow and cash budget.

Q.4 Explain the classification of Cash flow’s activity.

Q.5 Show the Process of preparing cash flow Statement.

BONUS QUESTIONS

Q.1 Describe the uses of cash flow statement.

Q.2 Explain the various source of cash flow statement.

Q.3 Differences between funds flow statement & Cash flow statement.