Question :

At the time of retirement of a partner, profit (gain) on revaluation will be credited to the Capital Accounts of

Option 1: retiring partner.

Option 2:

all partners in their old profit-sharing ratio.

Option 3:

the remaining partners in their old profit-sharing ratio.

Option 4:

the remaining partners in their new profit-sharing ratio.

Question :

Correct the following sentence if it is incorrect:

The current regime seems resolute to create perennial struggle for the downtrodden and that accounts to lots of injustice.

Option 1: perennial struggle for the downtrodden and this accounts to lots of injustice

Option 2: perennial struggle about the downtrodden and this accounts to lots of injustice

Option 3: perennial struggle for the downtrodden and that accounts for lots of injustice

Option 4: perennial struggle for the downtrodden and that accounts to lots of injustice

Option 5: perennial struggle to the downtrodden and that accounts to lots of injustice

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:
Amount Due to the deceased's partner's capital account will be ......

Option 1: Rs 3,66,000

Option 2: Rs 6,06,000

Option 3: Rs 5,66,000

Option 4: None of the above

Question : The interest on Partner's Capital Accounts is to be credited to

Option 1: Profit and Loss A/c

Option 2: Interest A/c

Option 3: Partner's Capital A/c

Option 4: None of these

Question : When studying medieval travel accounts, it is important to consider the: 

Option 1: Traveler's favorite color  

Option 2: Type of transportation used 

Option 3: Historical and cultural context 

Option 4: Weather conditions during the journey  

Question : Chain and Harsha were partners in a firm sharing profits in the ratio of 3: 2. On 1-4-2014 their Balance Sheet was as follows :

On the above date Vaishali was admitted for 1/4 th share in the profits of the firm on the following terms :
(a) Vaishali will bring Rs.20,000 for her capital and Rs.4,000 for her share of goodwill premium.
(b) All debtors were considered good.
(c) The market value of investments was Rs. 15,000.
(d) There was a liability of Rs.6,000 for workmen compensation.
(e) Capital accounts of Charu and Harsha are to be adjusted on the basis of Vaishali's capital by opening current accounts.
Question:
Amount distributed amongst the old partners In respect of workmen's compensation fund will be

Option 1: Crediting old partners capital Account with Rs 2,000 and Rs 1,000

Option 2: crediting the old partner's capital account with Rs 1,800 and Rs 1,200

Option 3: debiting old partner's capital account with Rs 1,800 and Rs 1,200

Option 4: None of the above

Question : How did Indian accounts of the Revolt of 1857 contribute to the nationalistic narrative in India?

Option 1: By glorifying British rule

Option 2: By highlighting the unity among Indians

Option 3: By emphasizing the economic benefits of the revolt

Option 4: By downplaying the violence

Question : Which authority recommends the principles governing the grants in -aid of revenues of  the states out of the consolidated fund of india?

Option 1: public accounts committee

Option 2: union ministry of finance

Option 3: Finance Commission 

Option 4: inter-state council

Question : India accounts for what per cent of the total geographical area of the world?

Option 1: 3.2 per cent

Option 2: 5.2 per cent

Option 3: 4.8 per cent

Option 4: 2.4 per cent

Question : Comprehension:

Read the passage carefully and answer the questions that follow.

India's favourable demographic trends, which have increased the workforce's percentage of the overall population, have paved the way for a significant middle-class expansion. A big population bulge emerging from absolute poverty and set to reach the middle class would generate new dynamics. In India, over 55 per cent of the population is predicted to reach the middle class. In reality, because India's demographics are significantly younger than China and the United States, the country's middle class might be the world's largest (in terms of population) by 2025.

It is no exaggeration to argue that future growth will be reliant on the increasing middle class and that the middle class's development will be reliant on growth. Growth has been fuelled by both private consumption and saving, both of which are fuelled by the middle class. India's private consumption accounts for over 60% of the country's GDP, while private consumption growth has contributed to 70% of the country's growth since 2000.

Despite the fact that China's middle class is now greater than India's, private spending in the former accounts for a lesser share of growth. In contrast to the United States, where domestic savings are dropping and the country borrows excess funds from outside to invest and expand, India's domestic savings and investments are increasing and funding investments. The emergence of the middle class is anticipated to coincide with a transition away from large-scale informality, which now characterises much of the services and industrial sectors, and toward more formal, wage-earning, and medium-scale firms. Technological advancements will spread at a faster rate. Cities will expand as job possibilities concentrate on them. If there is enough movement across states and from rural to urban regions, the population increase will be more evenly distributed.

Question:

Select the most appropriate ANTONYM of the given word.

Coincide

Option 1: Differ

Option 2: Agree

Option 3: Confuse

Option 4: Detest