CUET Business Studies Test 1

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CUET Business Studies Test 1

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1. On dissolution of a firm, realisation account is debited with

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2. Which of these is not transfer payment?

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3. Which of the following is not a problem of Barter system?

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4. Which of the following is a final expenditure?

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5. Court can make an order to dissolve the firm when :

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6. From where did the Peddler get the material to make rattraps?

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7. The Drawbacks of Barter system:

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8. Which of the following is not the mode of dissolution of the firm?

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9. Which of the following is not a component of gross domestic fixed capital formation?

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10. Medicine supply to the Earthquake victim in India by British Government is :

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11. Which of the following is not in intermediate goods for a farmer?

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12. Which of the following is not a component of NFIA

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13. The net value at Market Price of final goods and services during an accounting year within the domestic territory of a country is known as

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14. Which of the stat ement is correct?

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15. Which of the following is transferred to Realisation A/c?

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16. Old age pension given by Government of India comes under:

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17. Corporation tax is not a component of :

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18. Which of these is transfer income?

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19. On firm’s Dissolution, Patents realised at ₹ 50,000. State which account will be credited.

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20. Change in stock will be negative when:

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21. When the value of same output is counted more than once while measuring national income it results:

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22. Which of these is not a component of operating surplus?

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23. While estimating national income, depreciation is measured from:

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24. Which of the following is included in national income?

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25. Which item from the following will be included in national income?

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26. Which of these is not an example of leakage?

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27. What does the rattrap seller resort to, at times, make his both ends meet?

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28. At the time of Dissolution, a Partner gives his personal assets to firm’s creditor in settlement, the account credited will be

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29. At the time of dissolution of firm, at what stage the balance of Partner’s Capital Account are paid?

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30. At the time of dissolution of firm, loan given by partner to the firm is paid out of the amount realised on sale of assets

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31. At the time of dissolution of firm, at which stage the balance of partner’s capital accounts is paid?

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32. A firm’s value added is equal to :

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33. Unrecorded liability, when paid on dissolution of a firm is debited to :

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34. Which of the following is also known as domestic factor income?

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35. At the time of dissolution of firm, “Loan of partners” (Loans given by partners to the firm) is paid out of the amount realised on sale of assets :

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36. Which of the following is leakages?

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37. In which condition a partnership firm is deemed to be dissolved?

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38. Domestic income is greater than National Income if

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39. In the absence of partnership deed, interest on capital is allowed at the rate of:

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40. Amount received from sale of unrecorded asset at the time of dissolution of the firm is credited to

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