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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 :

Balance Sheet of Charu and Harsha as on 1st April, 2014
Liabilities Amount(Rs) Assets Amount(Rs)
Creditors 17,000 Cash 6,000
General Reserve 4,000 Debtors 15,000
Workmen Compensation Fund 9,000 Investments 20,000
Investment Fluctuation Fund 11,000 Plant 14,000
Provision for bad debts 2,000 Land & buildings 38,000
Capitals:      
Charu- 30,000      
Harsha- 20,000 50,000    
  93,000   93,000

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

Team Careers360 7th Jan, 2024

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


Solution : Answer = crediting the old partner's capital account with Rs 1,800  and Rs 1,200

  Charu Harsha Vaishali   Charu Harsha Vaishali
        By Bal. B/D 30000 20,000 -
        Revaluation(profit) 1200 800

-

        Reserve 2400 1600 -
       
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Question : If the water smells bad, then that odour can be removed by adding:

Option 1: Alum

Option 2: Bleach

Option 3: Activated carbon

Option 4: Deactivated carbon

Team Careers360 19th Jan, 2024

Correct Answer: Activated carbon


Solution : The correct option is Activated carbon.

Powdered activated carbon is the suggested remedy for tastes, and odours that are modest and sporadic. By adding powdered activated carbon to water, or using granular activated carbon in the water filter, bad tastes, and unpleasant odours

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Question : Select the most appropriate meaning of the given idiom.

Bad iron.

Option 1: No steam

Option 2: Not hot

Option 3: Bad luck

Option 4: Bad behaviour

Team Careers360 18th Jan, 2024

Correct Answer: Bad luck


Solution : The correct option is the third option.

The idiom, bad iron means to have bad luck or be unfortunate.

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Question : Select the option that can be used as a one-word substitute for the given group of words.

Make (something bad or unsatisfactory) better

Option 1: Judge

Option 2: Malign

Option 3: Castigate

Option 4: Ameliorate

Team Careers360 12th Jan, 2024

Correct Answer: Ameliorate


Solution : The correct choice is the fourth option.

Explanation:
Ameliorate fits this requirement, as it means to make something bad or unsatisfactory better. It is a synonym for improve and precisely conveys the meaning of enhancing a situation or condition.

The meanings of the other

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