Correct Answer: All of the above.

Solution : Answer = All of the above.

All of the statements are correct regarding the objectives and significance of the current ratio. It evaluates the firm's ability to meet short-term liabilities, with a ratio of 2:1 considered ideal, and a higher ratio indicating better liquidity and ability to meet obligations.
Hence, the correct option is 4.

Correct Answer: Debited R’s capital account with RS 22,000 and M’s capital account Rs 5500 credited P’s capital account Rs 27,500

Solution : Answer = Debited R’s capital account with RS 22,000 and M’s capital account Rs 5500 credited P’s capital account Rs 27,500

If the profit sharing ratio of remaining partners and the new ratio is 3:2, then the entry will be:

R's capital A/c Dr          22,000
M's capital A/c Dr            5,500
To P's capital A/c                       27,500
[In gaining ratio= New Ratio - Old Ratio]
Hence, the correct option is 3.

Correct Answer: gross value added

Solution : The correct answer is gross value added.

In national income accounting, GVA stands for gross value added. It represents the total value of goods and services produced by an economy or a specific sector minus the value of intermediate goods and services used in the production process. It is a key indicator used to assess the contribution of individual sectors or the overall economy to the gross domestic product (GDP).

Correct Answer: Ledger Accounts

Solution :

For making a trial balance it is not necessary to make a ledger accounts

in computerized accounting system

Hence the Cprrect answer is option 1.

Correct Answer: All of the above.

Solution : Answer = All of the above.

All of the statements are correct regarding the objectives and significance of the current ratio. It evaluates the firm's ability to meet short-term liabilities, with a ratio of 2:1 considered ideal, and a higher ratio indicating better liquidity and ability to meet obligations.
Hence, the correct option is 4.

Correct Answer: Accounting ratio

Solution : Answer = Accounting ratio

The accounting ratio may be expressed as an arithmetical relationship between two accounting variables. The term accounting ratio is used to describe significant relationships which exist between figures shown in a Balance Sheet, in a Statement of Profit and Loss, in a budgetary control system.
Hence, the correct option is 2.

Correct Answer: To the total of assets/total of equity and liabilities

Solution : Answer = To the total of assets/total of equity and liabilities

Common-size Balance Sheet shows the percentage relation of each asset/equity and liability to the total of assets/total of equity and liabilities.
Hence, the correct option is 3.

Correct Answer: The raw fact (as input) for any business application

Solution : People means users. A logical sequence of actions to perform a task is a procedure. Computer, associated peripherals, and their network are called hardware. The raw fact (as input) for any business application is called data. Hence the correct option is 3.

Correct Answer: All of the above

Solution : Following are the features computerised accounting system:
1. Data Security,
2. Improved Reporting,
3. Accuracy and Speed,
4. Scalability,
5. Quick Decision Making, and
6. Advanced Features.
Hence, the correct option is 4.

Correct Answer: BADC

Solution : The second option is the correct answer.

It starts with the introduction of the narrator's role as a junior clerk before becoming an accounts officer (B). The paragraph then provides additional context by revealing that the narrator began their career as a peon at a small firm (A).As the narrative unfolds, it mentions the gradual improvement in qualifications (D) and it concludes by highlighting the narrator's efforts in learning typing, accounting, and eventually graduating (C).

Therefore, the correct answer is BADC.