This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your knowledge and support exam preparation. Choose a topic below to get started.
| 8401. |
Evidence that electromagnetic waves carry momentum is: A. the tail of a comet points away from the Sun B. electron flow through a wire generates heat C. a charged particle in a magnetic field moves in a circular orbit D. heat can be generated by rubbing two sticks together E. the Doppler effect |
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Answer» A. the tail of a comet points away from the Sun |
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| 8402. |
The resistance of a carbon resistor with four coloured rings is \( (500 \pm 50) \Omega \). Identify the colour of fourth ring. |
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Answer» Given resistance R = \((500\pm50)\Omega\) We can write R = (50 x 101± 10%) it means First ring 5 - Green color Second ring 0 - Black Third ring 101 = Brown Fourth 10% = Silver its mean colour of fourth ring will be silver. |
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| 8403. |
If the sum of atomic mass of 3 elements forming Dobereiner traid is 69, then atomic mass of second elementA. 7B. 46C. 39D. 23 |
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Answer» Correct Answer - D `{:(Li,,Na,,K),(7,+,23,+,39=69):}` `(7+39)/(2)=23` |
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| 8404. |
In which of the following processes, heat is neither absorbed nor released by a system? (1) Isothermal (2) Adiabatic (3) Isobaric (4) Isochoric |
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Answer» The correct option is (2) Adiabatic. Explanation: In adiabatic process, there is no exchange of heat. |
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| 8405. |
What is the role of the seminal vesicles and the prostate gland? |
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Answer» The seminal vesicle is the accessory gland in human males whose secretion activates the sperms. The secretions of the seminal vesicles are alkaline, slimy and its PH is about 7.4. Prostate gland is a bilobed structure which surrounds the urethra close to its origin from the bladder. It pours an alkaline secretion into the semen as it passes through the urethra. Its secretions activate the sperms and prevent the semen from coagulating. |
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| 8406. |
Assertion: A biosphere reserve is a specified areaReason: No restriction of human activities has been imposed in biosphere reserve. a. Both assertion and reason are true, and reason is the correct explanation of assertion. b. Both assertion and reason are true, but reason is not the correct explanation of assertion. c. Assertion is true but reason is false d. Both assertion and reason are false. |
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Answer» c. Assertion is true but reason is false |
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| 8407. |
Assertion: Prostate and seminal vesicles are said to be primary sex organs.Reason: Prostate and seminal vesicles participate in gamete formation. a. Both assertion and reason are true, and reason is the correct explanation of assertion. b. Both assertion and reason are true, but reason is not the correct explanation of assertion. c. Assertion is true but reason is false d. Both assertion and reason are false. |
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Answer» d. Both assertion and reason are false. |
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| 8408. |
Assertion: Allosomes determine sex of individual. Reason: Androsomes are responsible for female sex. (a). Both assertion and reason are true, and reason is the correct explanation of assertion. (b). Both assertion and reason are true, but reason is not the correct explanation of assertion. (c). Assertion is true but reason is false (d). Both assertion and reason are false |
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Answer» d. Both assertion and reason are false. |
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| 8409. |
Assertion: Central dogma is the flow of information from DNA to m RNA and then decoding the information present in m RNA in the form of protein. Reason: In retroviruses, reverse of central dogma occurs. a. Both assertion and reason are true, and reason is the correct explanation of assertion. b. Both assertion and reason are true, but reason is not the correct explanation of assertion. c. Assertion is true but reason is false d. Both assertion and reason are false. |
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Answer» b. Both assertion and reason are true, but reason is not the correct explanation of assertion. |
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| 8410. |
A computer solved several problems in succession. The time it took the computer to solve each successive problem was the same number of times smaller than the time it took to solve the preceding problem. How many problems were suggested to the computer if it spent \( 63.5 min \) to solve all the problems except for the first, \( 127 min \) to solve all the problems except for the last one, and \( 31.5 min \) to solve all the problems except for the first two? |
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Answer» Let there be n problems as that was fed to the computer. Let t be the time it had taken to solve the first question. So now according to the problem the time taken to solve the successive questions will be t-t/x, t-2t/x,....., t-(n-1)t/x. There are three variables in the problem - n,t,x. You need to solve for n. There are three conditions in the problem. So now use the three conditions and form equations. Then solve for n. t-t/x + t-2t/x + t-3t/x + ....... t-(n-1)t/x = 63.5 ----------- (1) t + t-t/x + t-2t/x +...... + t-(n-2)t/x = 127 ---------- (2) t-2t/x + t-3t/x + ........ + t-(n-1)t/x = 31.5 --------- (3) From the three equations, solve for n. (1)-(3): t-t/x = 32 ------------- (4) (2)-(1): (n-1)t/x = 63.5 ------------(5) From (2): (n-1)t - (t/x)(n-2)(n-1)/2 = 127 or (n-1)t*[1 - (n-2)/(2x)] = 127 63.5x*[1 - (n-2)/(2x)] = 127 -------- from (5) (n-1)t = 63.5x or x[1 - (n-2)/(2x)] = 2 or [2x-n-2] = 4 or x-1 = (n+4)/2 ----------- (6) Using (4): (1-1/x)[63.5x/(n-1)] = 32 (x-1)[63.5/(n-1)] = 32 -------- (7) So 63.5/(n-1) [n+4] = 64 or 63.5(n+4) = 64(n-1) So 63.5n + 254 = 64n - 64 or 0.5n = 318. or n = 636. So 636 Questions would be fed to the computer. |
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| 8411. |
Which among the following is/are the essential condition/s for a good error control codingtechnique? a. Faster coding &decoding methods b. Better error correcting capability c. Maximum transfer of information in bits/sec d. All of the above |
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Answer» d. All of the above |
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| 8412. |
In a linear code, the minimum Hamming distance between any two codewords is minimum weight of any non-zero code word. a. Less than b. Greater than c. Equal to d. None of the above |
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Answer» Correct option is c. Equal to |
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| 8413. |
Which decoding method involves the evaluation by means of Fano Algorithm? a. Maximum Likelihood Decoding b. Sequential Decoding c. Both a and b d. None of the above |
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Answer» b. Sequential Decoding |
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| 8414. |
Predict the modes of occurrence of the following three types of metals : (a) Highly reactive (e.g `Na`) (b) Moderately reactive (e.g `Fe`) ( c) Noble metal (e.g `Au`). |
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Answer» (i) Highly reactive : Being highly reactive in nature, it does not occur in nature in free state. In the combined form, sodium occurs as (a) Sodium chloride, `NaCl` (b) Sodium nitrate or Chile saltpetre, `NaNO_(3)` ( c) Sodium carbonate, `Na_(2) CO_(3)` (d) Borax, `Na_(2) B_(4)O_(7).10 H_(2) O`. (ii) Moderately reactive : Being moderately reactive in nature, it does not occur in nature in free state. In the combined form, iron occurs as (a) Magnetic, `Fe_(3)O_(4)` (b) Haematite, `Fe_(2)O_(3)` ( c) Limonite or hydrated ferric oxide, `Fe_(2)O_(3).3H_(2)O` (d) Siderite or spathic iron, `FeCO_(3)` ( e) Iron pyrites, `FeS_(2)` (f) Chalcopyrites, `CuFeS_(2)`. (iii) Noble metal : Being noble metal, it is found in free state in nature, e.g. `Au,Pt` etc. |
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| 8415. |
For a Gaussian channel of 1 MHz bandwidth with the signal power to noise spectral density ratio of about 104 Hz, what would be the maximum informationrate? a. 12000 bits/sec b. 14400 bits/sec c. 28000 bits/sec d. 32500 bits/sec |
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Answer» b. 14400 bits/sec |
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| 8416. |
A zero-mean white Gaussian noise is passed through an ideal lowpass filter of bandwidth 10 KHz. The output is then uniformly sampled with sampling period = 0.03 msec. The samples so obtained would be (a) correlated (b) statistically independent (c) uncorrelated (d) orthogonal |
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Answer» (b) statistically independent White noise contains all frequency components, but the phase relationship of the components is random. When white noise is sampled, the samples are uncorrelated. If white noise is Gaussian, the samples are statistically independent |
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| 8417. |
Noise with uniform power spectral density of N0(W/Hz) is passed through a filter H(\(\omega\)) = 2exp(−j\(\omega\)td) followed by an ideal low pass filter of bandwidth B Hz. The output noise power in Watts is (a) 2 N0B (b) 4 N0B (c) 8 N0B (d) 16 N0B |
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Answer» (b) 4 N0B The output power spectral density of Noise is Nout = |H(\(\omega\))|2Ni = 4 No The output noise power PN = 4N0B |
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| 8418. |
Enumerate and describe any five reasons for introducing sex-education to school-going children. |
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Answer» Proper information about reproductive organs-physiology and its functioning; discourage myths and misconceptions about sex-related aspects; knowledge about safe and hygienic sexual practices; adolescence and related changes, prevention of STDs, AIDs etc. |
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| 8419. |
All gens located on the same chromosomeA. form different groups depending upon their relative distanceB. form one linkage groupC. will not from any linkage groupsD. from interactive groups that affect the phenotype |
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Answer» Correct Answer - B Linked genes are the genes which occur on the same chromosome. A linkage group is a physical association of linked genes which are normally inherited together except for crossing over. |
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| 8420. |
Mickey, Tom and Jerry were partners in the ratio of 5:3:2. On 31st March 2021, their books reflected a net profit of ₹2,10,000. As per the terms of the partnership deed they were entitled for interest on capital which amounted to ₹80,000, ₹60,000 and ₹40,000 respectively. Besides this a salary of ₹60,000 each was payable to Mickey and Tom.Calculate the ratio in which the profits would be appropriated. (A) 1:1:1(B) 5:3:2(C) 7:6:2(D) 4:3:2 |
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Answer» Correct answer is: (C) 7:6:2 |
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| 8421. |
Mohit had been allotted for 600 shares by a Govinda Ltd on pro rata basis which had issued two shares for every three applied. He had paid application money of ₹3 per share and could not pay allotment money of ₹5 per share. First and final call of ₹2 per share was not yet made by the company. His shares were forfeited. the following entry will be passed:Equity Share Capital A/c Dr ₹XTo share Forfeited A/c ₹YTo Equity Share Allotment A/c ₹ZHere X, Y and Z are:(A) ₹ 6,000; ₹2,700; ₹3,000 respectively.(B) ₹ 9,000; ₹2,700; ₹4,500 respectively.(C) ₹ 4,800; ₹2,700; ₹2,100 respectively.(D) ₹ 7,200; ₹2,700; ₹4,500 respectively. |
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Answer» Correct answer is: (C) ₹ 4,800; ₹2,700; ₹2,100 respectively. The correct answer is (C) ₹ 4,800; ₹2,700; ₹2,100 respectively. Mohit's allotted share = 600 Mohit's applied share = 600 x 3/2 = 900 Amount paid by Mohit on application = 999 x ₹3 = ₹2700 Application Amount Due on Mohit's share = 600 x ₹3 = ₹1800 Excess Amount paid by Mohit on Application = ₹2700 - ₹1800 = ₹900 Allotment Amount Due on Mohit's share = 600 x ₹5 = ₹3000 Amount not paid by Mohit on Allotment = ₹3000 - ₹900 = ₹2,100 |
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| 8422. |
Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R):Assertion (A): In case of shares issued on Pro–rata basis, excess money received at the time of application can be utilised till allotment only. Reason (R): Company has to pay interest on calls in advance @12% p.a. for amount adjusted towards calls (if any). In the context of the above two statements, which of the following is correct?Codes: (A) Both (A) and (R) are true, but (R) is not the explanation of working capital management.(B) Both(A) and (R) are true and (R) is a correct explanation of (A).(C) Both (A) and (R) are false.(D) (A) is false, but (R) is true. |
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Answer» Correct answer is: (D) (A) is false, but (R) is true. |
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| 8423. |
If a genetic disease is transferred from a phenotypically normal but carrier female to only some of the male progeny, the disease isA. autosomal dominantB. autosomal recessiveC. sex-linked dominantD. sex-linked recessive |
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Answer» Correct Answer - D The sex linked recessive diease shows its transmission from unaffected carrier female to some of the male progeny e.g., haemophilia. The heterzyous female (carrier) of haemophilia may transmit the disease to sons. The possibility of a female becoming a haemophilic is extremely rare because mother of such a female has to be at least carrier and the father should be haemophilic. |
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| 8424. |
Ajay and Vinod are partners in the ratio of 3:2. Their fixed Capital were ₹3,00,000 and ₹4,00,000 respectively. After the close of accounts for the year it was observed that the Interest on Capital which was agreed to be provided at 5% pa was erroneously provided at 10%p.a. By what amount will Ajay’s account be affected if partners decide to pass an adjustment entry for the same?(A) Ajay’s Current A/c will be Debited by ₹15,000.(B) Ajay’s Current A/c will be Credited by ₹6,000.(C) Ajay’s Current A/c will be Credited by ₹35,000.(D) Ajay’s Current A/c will be Debited by ₹20,000. |
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Answer» Correct answer is: (B) Ajay’s Current A/c will be Credited by ₹6,000. |
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| 8425. |
Newfound Ltd took over business of Old land ltd and paid for it by issue of 30,000, Equity Shares of ₹100 each at a par along with 6% Preference Shares of ₹1,00,00,000 at a premium of 5% and a cheque of ₹8,00,000. What was the total agreed purchase consideration payable to Old Land ltd. (A) ₹1,05,00,000.(B) ₹1,43,00,000.(C) ₹1,40,00,000.(D) ₹1,35,00,000. |
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Answer» Correct answer is: (B) ₹1,43,00,000. |
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| 8426. |
In sickle cell anaemia glutamic acid is replaced by valine Which one of the following triplets codes for valine ?A. G G GB. A A GC. G A AD. G U G |
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Answer» Correct Answer - D The sickle-cell anaemia is caused by the substitution of glutamic acid (Glu) by valine (Val) at the sixth position of the beta globin chain of the haemoglobin molecule. The substitution of amino acid in the globin protein results due to the single base substitution at the sixth condon of the beta globin gene from GAG to GUG. The mutant haemoglobin molecule undergoes polymerisation under low oxygen tension causing the change in the shape of the RBC from biconcave disc to elongated sickle like structure. |
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| 8427. |
Vishnu Ltd. forfeited 20 shares of ₹10 each, ₹8 called up, on which John had paid application and allotment money of ₹5 per share, of these, 15 shares were reissued to Parker as fully paid up for ₹6 per share. What is the balance in the share Forfeiture Account after the relevant amount has been transferred to Capital Reserve Account? (A) ₹0(B) ₹5(C) ₹25(D) ₹100 |
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Answer» Correct answer is: (C) ₹25 A)Share capital A/C Dr.(8*20)=160To share forfeiture A/C (5*20)=100 To Calls in arrears A/C(3*20)=60 B)Bank A/C Dr. (6*15)=90 Share forfeiture A/C Dr (4*15)=60 To share capital A/C(10*15)=150 C) Share forfeiture A/C Dr. 15 To share capital reserve A/C. 15 Working notes Total capital=(10*15)=150 (Receive capital )=(5*15)=(75) (Newly received capital)6*15=(90) Capital reserve =(15) |
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| 8428. |
ASSERTION: When some of the forfeited shares are reissued, gain(profit) on reissued shares is transferred to Capital Reserve.REASON: Gain or profit on re issued shares is calculated as follows: total amount forfeited x no. of shares re issued-reissue discount No. of shares forfeited.(i) Both A and R are correct (ii) Both A and R are in correct (iii) A is correct but R is not correct explanation of A (iv) A is incorrect by R is correct |
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Answer» Correct option is (i) Both A and R are correct |
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| 8429. |
ASSERTION: SEBI the Regulatory authority for listed companies prescribes that the company must receive minimum subscription of 90% of the shares issued for subscription before it allots the shares. REASON: If minimum subscription is not received within the specified period, application money shall be refunded with 14 days from the closure of the issue. .(i) Both A and R are correct (ii) Both A and R are in correct (iii) A is correct but R is not correct (iv) A is incorrect by R is correct. |
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Answer» (iii) A is correct but R is not correct |
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| 8430. |
What is the correct sequence of events? 1. The company forfeited shares for non-payment of final call. 2. The company allotted the shares on pro rata basis. 3. The company reissued the forfeited shares at discount/par/premium. 4. The company issued equity shares of ₹10 payable as follows: application(A) ₹2, allotment (A) ₹3 and the balance on calls.a. 4,2,1,3 b. 1,2,3,4 c. 3,2,1,4 d. 1,3,4,1 |
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Answer» Correct option is a. 4,2,1,3 |
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| 8431. |
ASSERTION: SEBI the Regulatory authority for listed companies prescribes that the company must receive minimum subscription of 90% of the shares issued for subscription before it allots the shares.REASON: If minimum subscription is not received within the specified period, application money shall be refunded with 14 days from the closure of the issue. (i) Both A and R are correct (ii) Both A and R are in correct (iii) A is correct but R is not correct (iv) A is incorrect by R is correct. |
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Answer» Correct option is (iii) A is correct but R is not correct |
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| 8432. |
Many a times, we read in newspaper that the RBI has revised certain rates/rations under LAF. What is full form of LAF?A. Legal Adjustment FacilityB. Liquidity Adjustment FacilityC. Longterm Achievement FacilityD. Legal Adjustment Formality |
| Answer» Correct Answer - B | |
| 8433. |
If the shareholder fails to pay the call money then his/her shares will be forfeited and the Directors after passing a resolution in the board meeting the forfeited shares can be reissued if authorized by its Articles of Association of the company.1. Forfeited shares can be reissued at discount 2. Forfeited shares can be reissued at premium 3. Forfeited shares can be reissued at par 4. Forfeited shares cannot be reissued a. All 1,2,3 and 4 are correct b. 1,2,3 are correct and the 4 is incorrect. c. Only 1 and 2 are correct remaining 3 and 4 are incorrect d. Only 2 and 3 are correct remaining are incorrect |
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Answer» Correct option is b. 1,2,3 are correct and the 4 is incorrect. |
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| 8434. |
ASSERTION: if a shareholder does not pay the call amount due on allotment or on any calls according to the terms, the amount so not received is called call in arrears.REASON: Table F of the companies Act, shall apply which provides for interest on calls in arrears 10% p.a.(i) Both A and R are correct (ii) Both A and R are in correct (iii) A is correct but R is not correct (iv) A is incorrect by R is correct. |
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Answer» Correct option is (i) Both A and R are correct |
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| 8435. |
Which of the following scheme is not related to promotion of education in Madhya Pradesh?1. Kanya Saksharta Protsahan Yojana2. Rajiv Gandhi Prathmik Shiksha Mission 3. Operation Black Board4. Antyodaya Upchar Yojanas found. English Question 1 options 3,4 |
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Answer» Correct Answer - Option 4 : Antyodaya Upchar Yojanas found. English Question 1 options 3,4 The correct answer is Antyoday Upchar Yojana.
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| 8436. |
Thalassemic patients produce excess alpha or beta subunits of haemoglobin leading to impaired oxygen-binding capacity by their erythrocytes. How can the subunit produced in excess be determined? |
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Answer» Normal and thallasaemic erythrocytes obtained and their lysates analysed Protein fingerprinting/2-D gel electrophoresis/MALDI-TOF/SDS-PAGE can identify if α or β chain is absent. |
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| 8437. |
The phenomena of child labour is quite complex. Children work because they belong to poor families who cannot survive without the benefit of the income which accrues to the family on account of child labour. Any attempt to abolish it through legal recourse would, under the circumstances, not be practical. The only alternative is to ban child labour in hazardous areas and to regulate and ameliorate the conditions of work in other areas. Many developing countries including India have accepted this approach. In the passage 9, which of the following supports the statement "the prediction ... borne out by history"?A. Capitalism has just survived but not taken firm roots.B. The salaries of the employees have gone up in advanced countries.C. Technological development has not taken place in capitalist countries.D. The salaries of all the employees have gone down in all the countries. |
| Answer» Correct Answer - b | |
| 8438. |
Name any two databases important in bioinformatics. Mention the type of information which may be obtained from these databases. OR Suggest two possible ways for analyzing a given sequence using bioinformatics. |
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Answer»
OR 1. Processing raw information: The experimentally determined sequence (raw information) is processed using bioinformatics tools into genes, the proteins encoded and their function, the regulatory sequences, and inferring phylogenetic relationships. 2. Genes: Gene prediction can be done by using computer programs like Gene Mark for bacterial genomes and GENSCAN for eukaryotes. 3. Proteins: Protein sequences can be inferred from the predicted genes by using simple computer programs. 4. Regulatory sequences: Regulatory sequences can also be identified and analysed by using bioinformatics tools. 5. Inferring phylogenetic relationships: Information regarding the relationships between organisms can be obtained by aligning multiple sequences, calculating evolutionary distance and constructing phylogenetic trees. 6. Making a Discovery: Using the bioinformatics tools and databases, the functions of unknown genes can be predicted. |
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| 8439. |
Which information can be retrieved from the following databases? (i) EMBL (ii) PDB |
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Answer» (i) Nucleotide Sequence (ii) Three dimensional structure of proteins |
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| 8440. |
Which services are provided by families to a firm ? a. Land b. Labour c. Capital and Enterprises d. All the above |
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Answer» d. All the above |
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| 8441. |
Software concept full notes. |
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Answer» The hardware alone cannot perform any particular calculation or manipulation without being instructed exactly what to do and in what order to do it. These instructions are hence as important, if not more than hardware and are called software. The software acts as an interface between the user and the computer. A software or a program can be defined as a complete set of written instructions written by the programmer which enables the computer to obtain the solution of problem (with or without data). Software is a general term that is used to describe any single program or group of programs. Types of Software 1. Application Software 2. System Software 3. Utility Software. 1. Application Software are programs employed by the user to perform some specific functions. For example, an application software can be a program used for inventory control in business or a program used for engineering design. Some examples of Application Software are : – a. Word processors b. Spreadsheets c. Database management. 2. System Software consists of all programs, languages and documentation supplied by the manufacturer along with the computer. These programs allow the user to communicate with the computer and write or develop his own programs. This software makes the machine easier to use and helps to make very efficient use of the resources of the hardware. System software are programs held permanently on a machine, which will relieve the programmer from some mundane tasks and will improve resources utilization. Without this software, the user will not be in a position to develop his own application software. System Software is written especially for a particular type of computer. Hence it cannot be used, without any modifications, on different computers. System software is usually supplied by the computer manufacturer. System software includes: i. Operating System ii. Language Translators iii. Programming Languages iv. Editors v. Utility programs vi. Linkers vii. Loader Programs 3. Utility software may be considered as applications software or systems software, which is used quite often in the development of a program. For example, a program for the evaluation of logarithm or square root of a number may be required in developing some applications software. Utility programs are also required to transfer data from tape-to-tape, tape-to-disk, card-to-tape or tape-to-printer. Other utility programs like sort/merge programs are used to sort records into a particular sequence to facilitate updating of files. These sorted files can then be merged into a single updated file using merger utility program. Such programs are normally supplied by the hardware manufacturer and supplied along with system. However, the user can also develop his own utility software and keep it in the primary memory of the computer. |
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| 8442. |
The market price of a share of common stock is determined by _______.A. the board of directors of the firmB. the stock exchange on which the stock is listedC. the president of the companyD. individuals buying and selling the stock |
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Answer» D. individuals buying and selling the stock The market price of a share of common stock is determined by individuals buying and selling the stock. The market value per share or fair market value of a stock is the price that a stock can be readily bought or sold in the current market place. |
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| 8443. |
Explain briefly the important of business. |
Answer»
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| 8444. |
Bright Star Limited is engaged in manufacture of high-end medical equipment. Considering the prospects of high growth in this segment the company has decided to expand and for this purpose additional investment of ₹50,00,00,000 is required. Directors have decided that 20% of this requirement would be financed by raising long term debts and balance by issue of Equity shares.As per memorandum of association of the company the face value of Equity shares is ₹100 each. Also, considering the market standing of the company these shares would be issued at a premium of 25%. Directors decided to issue sufficient shares to collect the desired amount (including premium).The prospectus was issued to public, and the issue was oversubscribed by 2,00,000 shares which were issued letters of regret. Answer the below mentioned questions considering that the entire amount was payable on application.1. What is the total amount collected on application? (A) ₹42,50,00,000(B) ₹40,00,00,000(C) ₹32,00,00,000(D) None of the above2. How many Equity shares were offered for issue by Bright Star Ltd? (A) 40,00,000 shares.(B) 50,00,000 shares.(C) 35,00,000 shares.(D) 32,00,000 shares. |
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Answer» 1. Correct answer is: (A) ₹42,50,00,000. 2. Correct answer is: (D) 32,00,000 shares. |
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| 8445. |
Write any three features of subsidiary 7 books. |
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Answer» Features of subsidiary books are: 1. It is a book of original entry of transactions. They substitute the journal. 2. Each subsidiary 7 books contains specialised transactions having common characterstics. 3. Entering transactions is simple and much earlier than journalising. |
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| 8446. |
On 1st September 2020, twenty students of Modern College started their Partnership Firm in the name of “Be Safe” for selling sanitisers on digital mode. Since they were good friends of each other, they were not having any explicit agreement in place. All of them have agreed to invest ₹15,000/- each as capital. The books were closed on 31st March 2021, on which date the following information was provided by the firm:PARTICULARSAMOUNT (₹)Sale of Sanitisers1,20,000Cost of goods sold50,000Total Remuneration to partners2,000 per monthRent to a partner1,000 per monthManager’s Commission5,000Closing Stock as on March 31,20219,0006% Fixed Deposit (made on 31.3.2021)20,0001. Calculate the amount of profits to be transferred to Profit and Loss Appropriation Account. - (A) Profit ₹58,000 (B) Profit ₹44,000 (C) Profit ₹59,200 (D) Profit ₹58,7002. On 31st March 2021, Remuneration to Partners will be provided to the partners of “Be Safe” but only out of: (A) Profits for the accounting year(B) Reserves(C) Accumulated Profits(D) Goodwill 3. On 01st December 2020 one of the partners of the firm introduced additional capital of ₹30,000 and also advanced a loan of ₹40,000 to the firm. Calculate the amount of interest that Partner will receive for the current accounting period- (A) ₹4,200(B) ₹1,400(C) ₹ 1575(D) ₹ 800 |
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Answer» 1. Correct answer is: (A) Profit ₹58,000 2. Correct answer is: (A) Profits for the accounting year 3. Correct answer is: (D) ₹ 800 |
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| 8447. |
Commission received is a example for (a) Revenue (b) Cost (c) Expenses (d) Production |
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Answer» (a) Revenue. |
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| 8448. |
What is real account? |
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Answer» The accounts relating to properties, assets, and pocessions with which we carry on business comes under one head of accounts called Real a/c. Example: Cash, goods, land and building, machinery, copy rights etc. |
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| 8449. |
Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R):Assertion (A): The focus of calculation of working capital revolves around managing the operating cycle of the business.Reason (R): It is because the concept of operating cycle is required to ascertain the liquidity of assets and urgency of payments to liabilities.In the context of the above two statements, which of the following is correct?Codes:(A) Both (A) and (R) are true, but (R) is not the explanation of working capital management.(B) Both(A) and (R) are true and (R) is a correct explanation of (A).(C) Both (A) and (R) are false.(D) (A) is false, but (R) is true. |
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Answer» Correct answer is: (B) Both(A) and (R) are true and (R) is a correct explanation of (A). |
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| 8450. |
Write any two Accounting standards, accepted under IAS. |
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Answer» 1. IAS 1 – Disclosure of Accounting Policies 2. IAS 2 – Valuation of Inventories. |
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