Question : In the absence of Specific Provision in the partnership deed, as to salary and Remuneration, amount Payable to him salary and Remuneration will be.

Option 1: Rs 15,000 per month

Option 2: Rs 20,000 per month

Option 3: Rs 10,000 per month

Option 4: Nil

Question : On 1 January 2020, a partner advanced a loan of Rs.1,00,000 to the firm. In absence of a deed, interest on loan payable on 31st March 2020 will be:

Option 1: Nil

Option 2: Rs.1,500

Option 3: Rs.6,000

Option 4: Rs.3,000

Question : If the fixed cost of the factory producing candles is Rs. 20,000, the selling price is Rs. 30 per dozen candles, and the variable cost is Rs. 1.50 per candle, what is the Break-even Quantity?

Option 1: 20,000

Option 2: 10,000

Option 3: 15,000

Option 4: 12,000

Question : Trade receivable Rs. 40,000. Trade payable Rs. 20,000. Prepaid expenses Rs. 10,000. Inventory is Rs. 1,00,000 and goodwill is Rs. 15,000. The quick ratio will be

Option 1: 2.5:1

Option 2: 1:2

Option 3: 2.33:1

Option 4: 2:1

Question : Trade receivable Rs. 40,000. Trade payable Rs. 20,000. Prepaid expenses Rs. 10,000. Inventory is Rs. 1,00,000 and goodwill is Rs. 15,000. The quick ratio will be

Option 1: 2.5:1

Option 2: 1:2

Option 3: 2.33:1

Option 4: 2:1