1. Questions 1 to 16, 27, 28, 29 and 30 carries 1 mark each.
2. Questions 17 to 20, 31 and 32 carries 3 marks each.
3. Questions 21, 22 and 33 carries 4 marks each.
4. Questions from 23 to 26 and 34 carries 6 marks each.
1. Which of the following is not a sub-head under the Current Assets?
(a) Cash and Cash Equivalents (b) Trademarks (c) Short-term Loans and Advances (d)
Inventories
2. Which of the following tools of 'Analysis of Financial Statements' indicate the trend and
direction of financial position and operating results?
(a) Comparative Statement (b) Common size statements (c) Cash flow analysis (d) Ratio
analysis
3. Reserves and Surplus of Jai Ltd. were Rs 10,00,000 (Negative Balance) in the year 2023-
24. It becomes Rs 15,00,000 in the year 2024-25. The percentage change in Reserves and
Surplus is
(a) 50% (b) 100% (c) 150% (d) 250%
4. Current Ratio is 2:1 and Quick Ratio is 0.5:1, a transaction involving decrease in both
current Ratio and Quick Ratio is
(a) Sale of Non-current Assets for cash (b) Sale of Stock-in-Trade at loss (c) Cash payment
of a Current Liability (d) Purchase of stock-in-Trade on credit
5. 'Paid Rs 5,00,000 to acquire shares in Neligare industries and received a dividend of Rs
30,000 after acquisition'. The transaction will result in
(a) cash outflow from financing activities Rs 4,70,000 (b) cash inflow from investing
activities Rs 4,70,000 (c) cash inflow from financing activities Rs 4,70,000 (d) cash
outflow from investing activities Rs 4,70,000
6. Mohan, a partner, withdrew Rs 20,000 on 1st April, 2024 and Rs 40,000 on 1st
October,2024. Interest on Drawings @ 6% p.a. on 31st March, 2025 will be
(a) Rs 2,400 (b) Rs 3,600 (c) Rs 1,800 (d) Rs 1,200
7. A firm earned Rs 60,000 as profit, normal rate of return being 10%. Assets of the firm are
Rs 7,20,000 (excluding goodwill) and liabilities are Rs 2,40,000. Find the value of Goodwill
by capitalisation of average profit method.
(a) Rs 2,40,000 (b) Rs 1,80,000 (c) Rs 1,20,000 (d) Rs 60,000
8. On the reconstitution of a firm value of furniture increased from Rs 7,00,000 to Rs
8,00,000 and stock reduced to Rs 4,00,000 from Rs 4,20,000. Gain or loss on revaluation will
be
(a) Gain Rs 80,000 (b) Loss Rs 80,000 (c) Gain Rs 8,00,000 (d) Loss Rs 1,20,000
9. Asha and Nisha were partners in a firm sharing profits and losses in the ratio 3:1. Charu
was admitted as a new partner for 1/4th share in the profits of the firm which she acquired
equally from Asha and Nisha. The new profit-sharing ratio of Asha, Nisha and Charu will be
(a) 3:1:4 (b) 1:1:2 (c) 5:1:2 (d) 1:2:1
10.
