Marks
Question : How is goodwill recorded when a partner retires?
Option 1: Remaining Partner’s Capital A/cs Dr. (In Gaining Ratio)
To Retiring Partner’s Capital A/c (with his share of goodwill)
Option 2: Remaining Partner’s Capital A/cs Dr. (In New Ratio)
Option 3: Goodwill A/c Dr.
To Retiring Partner’s Capital A/c (with his share)
Option 4: Goodwill A/c Dr.
To All Partner’s Capital A/cs (In Old Ratio)
Correct Answer: Remaining Partner’s Capital A/cs Dr. (In Gaining Ratio)
Solution : According to the partnership deed's guidelines, the company's goodwill is assessed. His share of the goodwill is credited to the capital account of the retiring partner, and the
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the score varies to the category of the candidate, 550 is considered a good score for the General category and for the Schedule caste/Schedule Tribe it is a very good score. A candidate who has scored more than 550 and belongs to SC/ST category has a high chance of
Question : As of 2023, Article 19 of the Indian Constitution provides how many types of freedoms?
Option 1: 13
Option 2: 44
Option 3: 30
Option 4: 6
Correct Answer: 6
Solution : The correct answer is 6.
As of 2023, Article 19 of the Indian Constitution provides six types of freedoms that are guaranteed to Indian citizens. These freedoms are often referred to as the "six fundamental rights."
Question : Marks scored by Reena are plotted on the graph. Calculate how many more marks she scored in science than Hindi.
Option 1: 5
Option 2: 2
Option 3: 3
Option 4: 4
Correct Answer: 2
Solution : The number of more marks Reena scored in science than Hindi = 37 – 35 = 2 Hence, the correct answer is 2.
Question : Select the word that is similar in meaning (SYNONYM) to the word given below Efficacy
Option 1: Impotence
Option 2: Efficiency
Option 3: Ineptness
Option 4: Futility
Correct Answer: Efficiency
Solution : The correct answer is the second option.
In the given context, "efficacy" refers to the ability to produce the desired or intended result, indicating effectiveness. "Efficiency" serves as an appropriate synonym in this context because it also conveys the idea of achieving optimal results with
Question :
Salary paid by Lancer Club for the year is Rs.1,80,000. Outstanding salary in the beginning and end of the year is Rs.10,000 and Rs.6,000 respectively. The amount to be debited to Income and Expenditure Account will be:
Option 1:
Rs.1,84,000
Option 2:
Rs.1,90,000
Option 3: Rs.1,86,000
Option 4: Rs.1,76,000
Correct Answer: Rs.1,76,000
Solution : Amount debited to Income and Expenditure = Closing outstanding + Salary paid - Opening outstanding = Rs.6,000 + Rs.1,80,000 - Rs.10,000 = Rs.1,76,000. Hence, the correct option is 4.
Question : State Bank of India was previously known as:
Option 1: Imperial Bank of India
Option 2: Canara Bank
Option 3: Syndicate Bank
Option 4: Co- operative
Correct Answer: Imperial Bank of India
Solution : The correct option is Imperial Bank of India.
The Imperial Bank of India operated from 1921 to 1955. It came into existence through the merger of three presidency banks: the Bank of Calcutta, the Bank of Bombay, and the Bank of Madras.
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