Question : Aman, Raman and Suman were partners sharing profits the ratio of 3:2:1 respectively. The profit and sales for the year ended 31 March, 2017 were Rs.3 lakh and Rs.10 lakh respectively. Aman died on 30th November, 2017. Calculate the share of deceased partner in the profits for the period from 1st April, 2017 to 30th November, 2017, if the same is calculated:
Q. On the basis of Time.

Option 1: RS 1,20,000

Option 2: Rs 1,40,000

Option 3: Rs 1,00,000

Option 4: None of the above

Question : Which of the following statement is correct?
Statement 1: Commercial bill used to finance the cash sales.
Statement 2: Commercial bill is a short term instrument generally issued for a period of 90 days.

Option 1: Both are true 

Option 2: Both are false

Option 3: Statement 1 is true and statement 2 is false.

Option 4: Statement 1 is false and statement 2 is true.

Question : A firm made credit Revenue from Operations (Credit Sales) of Rs.5,40,000 during the year. If the trade receivables turnover ratio is 9 times, The value of opening and closing trade Receivables, if the closing trade receivables are more by Rs.8,000 than the opening trade receivable will be

Option 1: Opening trade receivable Rs 56,000 closing trade receivable Rs 64,000

Option 2: Opening trade receivable Rs 64,000 closing trade receivable Rs 56000

Option 3: Opening trade receivable Rs 24000 closing trade receivable Rs 32000

Option 4: None of the above

Question : Which aspect of management is highlighted in the below statement?
In whale Ltd, the purchase department purchased 5 tonnes of raw materials for the production department. The production department needs just 2 tonnes. Due to this reason, goods were over produce and were not accepted by the sales department.
 

Option 1: Lack of planning 
 

Option 2: Lack of organising
 

Option 3: Lack of manpower 
 

Option 4: Lack of coordination.
 

Question : Identify the principle of management in the below case.
The superior has promised his subordinate to share his profit with them once the sales target is achieved.
 

Option 1: Unity of command
 

Option 2: Unity of direction
 

Option 3: Discipline
 

Option 4: Order
 

Question : Which of the following statements are false with respect of Net profit ratio?

Option 1: Net Profit Ratio establishes the relationship between Net Profit and Revenue from Operations, i.e., Net Sales.

Option 2: Net Profit Ratio is an indicator of overall efficiency of the business. Higher the Net Profit Ratio, better the business.

Option 3: An increase in the ratio over the previous period shows improvement in the operational efficiency and decline means otherwise.

Option 4: None of the above.

Question : 12,00,000 in credit sales and 2,40,000 in debts were owed by ABC Ltd. at the conclusion of the year. With a year of 360 days,what will be the average collection period?

Option 1: 180 Days

Option 2: 60 Days

Option 3: 80 Days

Option 4: 72 Days

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:
The amount of goodwill distributed amongst the partners are

Option 1: Rs 17,500

Option 2: Rs 35,000

Option 3: Rs 24,000

Option 4: None of the above

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 : Case Study:

A company believes that aggressive sales and promotion efforts are essential to boost sales. They prioritize short-term sales goals over long-term customer relationships. This philosophy reflects the:

Option 1: Societal Marketing Concept

Option 2: Product Concept

Option 3: Marketing Concept

Option 4: Selling Concept