Vellore Institute of Technology, Vellore
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
Correct Answer: Cash account
Solution : Answer = cash account The cash or bank account is prepared at last. The balance of the cash account and the receipts during the process of dissolution has to be equal to the payments to outsiders and partners. With the cash account, all the
Question : If the sides of a right-angled triangle are three consecutive integers, then the length of the smallest side is
Option 1: 3 units
Option 2: 2 units
Option 3: 4 units
Option 4: 5 units
Correct Answer: 3 units
Solution : Let one side of a right-angled triangle be $x$. Shortest side = $x-1$ Longest side = $x +1$ Since the three sides form a right-angled triangle. $(x+1)^2=(x-1)^2+x^2$ ⇒ $x^2+1+2x=x^2+1-2x+x^2$ ⇒ $x^2=4x$ ⇒$x=4$ Thus, shortest side = $x-1=4-1=3$ Hence, the correct answer is 3 units.
Question : If the total assets of a firm are Rs.24,00,000 and the total liabilities are Rs.4,80,000 what will be the capitals of P, Q and R if they share profits in the ratio of their capitals and the profit sharing ratio is 1: 2: 3?
Option 1: P 4,80,000; Q3,20,000; R 1,60,000
Option 2: P 3,20,000; Q 6,40,000; R 9,60,000
Option 3: P 2,00,000; Q 4,00,000; R 6,00,000
Option 4: P 6,00,000; Q 4,00,000; R 2,00,000
Correct Answer: P 3,20,000; Q 6,40,000; R 9,60,000
Solution : Answer = P 3,20,000; Q 6,40,000; R 9,60,000
Hence, the correct option is 2.
Question : The point $Q(a,b)$ is first reflected in the y-axis to $Q_1$ and $Q_1$ is reflected in the x-axis to $(-5,3)$. The coordinates of point $Q$ are:
Option 1: $(–5,–3)$
Option 2: $(5,3)$
Option 3: $(–5,3)$
Option 4: $(5,–3)$
Correct Answer: $(5,–3)$
Solution : Given: $Q1$ is reflected over the x-axis to $(–5,3)$. $Q1$ = image of $Q(a,b)$ over Y-axis = $(–5,3)$ Image of $Q(a,b)$ over Y-axis = $(–(–5),–(3))$ Image of $Q(a,b)$ over Y-axis = $(5,–3)$ Hence, the correct answer is $(5,–3)$.
Question : ___________measures the relationship between Operating Profit and Revenue from Operations, i.e., Net Sales.
Option 1: Operating profit ratio
Option 2: Operating ratio
Option 3: Net profit ratio
Option 4: Gross profit ratio
Correct Answer: Operating profit ratio
Solution : Answer = Operating profit ratio
The operating profit ratio measures the efficiency of a company's operations by assessing the relationship between operating profit and revenue from operations (net sales). It indicates the percentage of revenue retained as operating profit after deducting operating expenses.
Question : Directions: Which of the answer figures is exactly the mirror image of the given figure if the mirror is placed on MN?
Option 1:
Option 2:
Option 3:
Option 4:
Correct Answer:
Solution : As per the mirror image properties, closer things appear close to the mirror in the reflection. So, according to the above property and the information provided, the mirror is placed on the right side of the figure (on line MN). So, the left side of the
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