Question : Sharma, Verma and Goyal are partners in a firm. On 1st April 2012 the balances in their
Capital Accounts were as follows:
Sharma Rs. 4,00,000; Verma Rs. 4,20,000 and Goyal Rs. 3,70,000. The firm closes its accounts every year on 31st March. Verma died on 30th September 2012. In the event of the death of any partner following are the provisions in the Partnership Deed:
(i) Interest on Capital will be calculated at the rate of $10 \%$ p.a.
(ii) The deceased partner; 's legal representative will be paid Rs. 35,000 for his share of goodwill.
(iii) The firm had a Reserve Fund of Rs. 2,10,000. The deceased partner will be paid his share in the Reserve Fund.
(iv) His share of profit till the date of death will be calculated based on sales. It is also specified that the sales during the year 2011-12 were Rs. $15,00,000$. The sales from 1st April 2012 to 30th September 2012 were Rs. 3,00,000. The profit of the firm for the year ending 31st March 2012 was Rs. 3,00,000.
Question:
Deceased 's partners share of profit will be ____________or profit and loss suspense account will be______________.

Option 1: debited by Rs 20,000

Option 2: credited by Rs 20,000

Option 3: debited by Rs 60,000

Option 4: Credited by Rs 60,000

Question : What is a primary source of firsthand accounts for the study of the partition of India?

Option 1: Archaeological artifacts

Option 2: Government archives

Option 3: Oral testimonies

Option 4: Historical novels

Question : Comptroller and Auditor General of India acts as friend , philosopher ,and Guide for 

Option 1: Public Accounts Committee

Option 2: Estimates Commitee

Option 3: Finance Minister

Option 4: Committee on Public Undertakings 

Question : On firm dissolution, which one of the following accounts should be prepared at the last?

Option 1: Realization account

Option 2: Partner's capital account

Option 3: Partner's loan account

Option 4: Cash account

Question : At the time of admission of a partner, what will be the effect of the following information? Balance in Workmen compensation reserve Rs. 20,000. Claim for workmen compensation Rs. 45,000.

Option 1: Rs. 5,000 Debited to the Partner's capital Accounts. 

Option 2: Rs. 40,000 Debited to Revaluation Account.

Option 3: Rs. 25,000 Debited to Revaluation Account.

Option 4: Rs. 40,000 Credited to Revaluation Account.

Question : P, R and S are in partnership sharing profits 4/8, 3/8 and 1/8 respectively. It is provided under the partnership deed that on the death of any partner his share of goodwill is to be valued at one-half of the net profits credited to his account during the last 4 completed years (books of accounts are closed on 31st March).

R died on 1st April 2018. The firm’s profits for the last 4 years were as follows: 2015 (Profits Rs. 1,20,000); 2016 (Profits Rs.60,000); 2017 (Losses Rs.20,000) and 2018 (Profits Rs. 80,000). Determine the amount that should be credited to R in respect of his share of goodwill.

Option 1: Rs 90,000

Option 2: Rs 30,000

Option 3: Rs 45,000

Option 4: Rs 60,000

Question :  Alberuni's travel accounts are particularly valuable for their insights into which area of study?  

Option 1: Military tactics 

Option 2: Philosophical thought  

Option 3:  Linguistic diversity

Option 4: Astrological beliefs

Question : Comprehension:

Read the passage and answer the questions that follow.

The Roman Empire covered a vast stretch of territory that included most of Europe as we know it today and a large part of the Fertile Crescent and North Africa.
The Roman Empire embraced a wealth of local cultures and languages; women had a stronger legal position then than they do in many countries today; but also that much of the economy was run on slave labor, denying freedom to substantial numbers of persons. From the fifth century onwards, the empire fell apart in the west but remained intact and exceptionally prosperous in its eastern half.
Roman historians have a rich collection of sources to go on, which we can broadly divide into three groups: (a) texts, (b) documents and (c) material remains. Textual sources include letters, speeches, sermons, laws, and histories of the period written by contemporaries. These were usually called ‘Annals’ because the narrative was constructed on a year-by-year basis. Documentary sources include mainly inscriptions and papyri. Inscriptions were usually cut on stone, so a large number survived, in both Greek and Latin. The ‘papyrus’ was a reed-like plant that grew along the banks of the Nile in Egypt and was processed to produce sheets of writing material that was very widely used in everyday life. Thousands of contracts, accounts, letters, and official documents survive ‘on papyrus’ and have been published by scholars who are called ‘papyrologists’. Material remains include a very wide assortment of items that mainly archaeologists discover (for example, through excavation and field survey), for example, buildings, monuments and other kinds of structures, pottery, coins, mosaics, and even entire landscapes. Each of these sources can only tell us just so much about the past, and combining them can be a fruitful exercise, but how well this is done depends on the historian’s skill!

Question:

Who were papyrologists?

Option 1: People who processed papyrus into sheet

Option 2: Scholars who published documents

Option 3: Farmers who cultivated papyrus

Option 4: People who surveyed the reed like plants along the Nile

Question : According to the data of 2011-12, Casual workers accounts for __ of work force in urban areas.
 

Option 1: 45%
 

Option 2: 15%
 

Option 3: 25%
 

Option 4: 35%