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 the following is not in intermediate goods for a farmer?

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3. On dissolution of a partnership firm, profit or loss on realisation is distributed among the partners

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4. Which of these is transfer income?

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

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6. The Drawbacks of Barter system:

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7. Which of the following is not a normal resident of a country?

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

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9. In the event of dissolution of a partnership firm, the provision for doubtful debts is transferred to

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

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

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12. A person of an institution who normally resides in a country and whose economic interest lies in that country is known as:

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

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14. Why does the Peddler knit up various thoughts?

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15. Which of the following is a flow concept?

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

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17. On dissolution of a firm, out of the proceeds received from the sale of assets will be paid first of all

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

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19. At the time of dissolution of partnership firm, Deferred Revenue Expenditure is transferred to

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

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21. 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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22. Depreciation means:

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23. Which of the following is a final expenditure?

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

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

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

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27. Domestic income is greater than National Income if

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

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30. Find out factor payment from the following:

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31. Which of these is not transfer payment?

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

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33. Which of the following is leakages?

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

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35. Which of the stat ement is correct?

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36. On firm’s dissolution, which one of the following account should be prepared at the last?

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37. Whom does this story revolve around?

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

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

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