CBSE Class 12 English - MCQ and Online Tests - Unit 4 - The Rattrap

CBSE Class 12 English – MCQ and Online Tests – Unit 4 – The Rattrap

Every year CBSE conducts board exams for 12th standard. These exams are very competitive to all the students. So our website provides online tests for all the 12th subjects. These tests are also very effective and useful for those who preparing for competitive exams like NEET, JEE, CA etc. It can boost their preparation level and confidence level by attempting these chapter wise online tests.

These online tests are based on latest CBSE Class 12 syllabus. While attempting these our students can identify the weak lessons and continuously practice those lessons for attaining high marks. It also helps to revise the NCERT textbooks thoroughly.

 


 

CBSE Class 12 English – MCQ and Online Tests – Unit 4 – The Rattrap

Question 1.
When does the ironmaster realise his mistake?
(a) when the peddler speaks
(b) when he sees an old photograph
(c) when the peddler changes clothes and cleans his face
(d) All of these

Answer

Answer: (c) when the peddler changes clothes and cleans his face


Question 2.
The first move of the ironmaster was to make sure that the guest could
(a) gain some flesh on his bones
(b) have verification done
(c) be given some money
(d) be given some clothes

Answer

Answer: (a) gain some flesh on his bones


Question 3.
The girl had brought with her the following article to make him feel warm
(a) A blanket
(b) A woollen shawl
(c) A sweater
(d) A fur coat

Answer

Answer: (d) A fur coat


Question 4.
The purpose of her visit to the iron-mill was to
(a) persuade the rattrap seller to spend Christmas Eve at their house
(b) propose to him
(c) counsel him
(d) advise him to give up stealing

Answer

Answer: (a) persuade the rattrap seller to spend Christmas Eve at their house


Question 5.
The name of the ironmaster’s daughter was
(a) Emily Dickinson
(b) Edla Willmansson
(c) Sophia Loren
(d) Mary

Answer

Answer: (b) Edla Willmansson


Question 6.
How much money had the peddler stolen from Crofter?
(a) 20 kronors
(b) 10 kronors
(c) 40 kronors
(d) 30 kronors

Answer

Answer: (d) 30 kronors


Question 7.
The ironmaster lived in the manor with his
(a) sons
(b) wife
(c) oldest daughter
(d) old mother

Answer

Answer: (c) oldest daughter


Question 8.
The ironmaster mistook the rattrap peddler for
(a) an old regimental comrade
(b) an old servant
(c) an old employee
(d) an old cousin of his wife

Answer

Answer: (a) an old regimental comrade


Question 9.
The peddler entered the gate of the iron mill with the intention of
(a) asking for food
(b) meeting the master smith
(c) shelter from rain and cold
(d) chatting with his friends

Answer

Answer: (c) shelter from rain and cold


Question 10.
What did the ironmaster feel when he saw the rattrap seller after he was well groomed by his valet?
(a) Not pleased
(b) Very happy
(c) Suspicious
(d) Angry

Answer

Answer: (a) Not pleased


Question 11.
He felt he had been fooled by a
(a) prankster
(b) bait
(c) crofter
(d) policeman

Answer

Answer: (b) bait


Question 12.
How did Crofter treat the Peddler?
(a) Very rudely
(b) In a strange manner
(c) Friendly manner
(d) None of these

Answer

Answer: (c) Friendly manner


Question 13.
The rattrap peddler gave the ironmaster a lecture on
(a) how the world is a rat trap
(b) how to be honest
(c) how to be ethically correct
(d) how to be professional

Answer

Answer: (a) how the world is a rat trap


Question 14.
The stranger’s reaction to the ironmaster was
(a) he made no attempt to hide his feelings
(b) he was angry
(c) he denied it completely
(d) he started screaming

Answer

Answer: (a) he made no attempt to hide his feelings


Question 15.
The rattrap peddler returned to the man’s house in order to
(a) steal the thirty kroner
(b) say thanks to the old man
(c) take the bag he had left behind
(d) note down the address of the old man

Answer

Answer: (a) steal the thirty kroner


Question 16.
The rattrap peddler spent most of his Christmas Eve
(a) laughing
(b) singing
(c) playing
(d) sleeping

Answer

Answer: (d) sleeping


Question 17.
The crofter had received a payment of
(a) forty kroner
(b) thirty kroner
(c) twenty-five kroner
(d) ten kroner

Answer

Answer: (b) thirty kroner


Question 18.
The old man was very generous with his
(a) confidence
(b) money
(c) food
(d) guest

Answer

Answer: (a) confidence


Question 19.
What did the package left for Edla contain?
(a) a small rattrap with 30 kroner on it
(b) a small bangle
(c) a necklace
(d) a diamond ring

Answer

Answer: (a) a small rattrap with 30 kroner on it


Question 20.
The old man in the grey cottage
(a) welcomed the peddler
(b) shooed away the peddler
(c) fought with the peddler
(d) got into an argument

Answer

Answer: (a) welcomed the peddler


Question 21.
What was the Peddler’s profession and who he was?
(a) Selling, traveller
(b) Begging, traveller
(c) Stealing, thief
(d) None of these

Answer

Answer: (c) Stealing, thief


Question 22.
The vagabond compared the whole world to a
(a) planet
(b) universe
(c) space
(d) rattrap

Answer

Answer: (d) rattrap


Question 23.
What did the ironmaster’s daughter say when the peddler was about to leave?
(a) she asked him to stay for that day only
(b) she said she wanted to go with him
(c) she told him not to mind what her father had said
(d) she asked him to leave after 2 days

Answer

Answer: (a) she asked him to stay for that day only


Question 24.
The peddler’s rattraps were made of
(a) wood
(b) aluminium
(c) wire
(d) plastic

Answer

Answer: (c) wire


Question 25.
How did the Crofter tempt the Peddler to steal his money?
(a) By his kindness
(b) By his warm care
(c) By showing him money
(d) None of these

Answer

Answer: (c) By showing him money


 

CBSE Class 12 English - MCQ and Online Tests - Unit 3 - Deep Water

CBSE Class 12 English – MCQ and Online Tests – Unit 3 – Deep Water

Every year CBSE conducts board exams for 12th standard. These exams are very competitive to all the students. So our website provides online tests for all the 12th subjects. These tests are also very effective and useful for those who preparing for competitive exams like NEET, JEE, CA etc. It can boost their preparation level and confidence level by attempting these chapter wise online tests.

These online tests are based on latest CBSE Class 12 syllabus. While attempting these our students can identify the weak lessons and continuously practice those lessons for attaining high marks. It also helps to revise the NCERT textbooks thoroughly.


 

CBSE Class 12 English – MCQ and Online Tests – Unit 3 – Deep Water

Question 1.
After being haunted by fear for many years Douglas decided to learn to swim. He took the help of
(a) his mother
(b) his father
(c) a friend
(d) an instructor

Answer

Answer: (d) an instructor


Question 2.
When he regained consciousness, he
(a) laughed at his experience
(b) had 104° F fever
(c) shook and cried and didn’t eat anything
(d) told his mother about his misadventure

Answer

Answer: (c) shook and cried and didn’t eat anything


Question 3.
Douglas went down towards the bottom
(a) only once
(b) twice
(c) thrice
(d) five times

Answer

Answer: (c) thrice


Question 4.
William Douglas was a friend and adviser of
(a) President Kennedy
(b) President Cleveland
(c) President Roosevelt
(d) President Clinton

Answer

Answer: (c) President Roosevelt


Question 5.
The water in the pool had a
(a) dirty yellow tinge
(b) a blue reflection
(c) green colour
(d) no colour

Answer

Answer: (a) dirty yellow tinge


Question 6.
At the end of the experience, Douglas felt
(a) happy
(b) released
(c) sad
(d) victorious

Answer

Answer: (b) released


Question 7.
When Douglas tried to yell
(a) everyone came to his rescue
(b) no sound came out
(c) his father arrived
(d) the lifeguard dived to save him up, they hung as

Answer

Answer: (b) no sound came out


Question 8.
The writer decided to learn to swim when he was about
(a) ten or eleven years old
(b) fifteen or sixteen years old
(c) twenty years old
(d) eighteen years old

Answer

Answer: (a) ten or eleven years old


Question 9.
The nine feet seemed to Douglas like
(a) hundred feet
(b) ninety feet
(c) fifty feet
(d) twenty-five feet

Answer

Answer: (b) ninety feet


Question 10.
Though Douglas was frightened, he was not
(a) afraid to die
(b) going to survive
(c) out of his wits
(d) able to shout for help

Answer

Answer: (c) out of his wits


Question 11.
Douglas had to repeat exhaling and inhaling exercises
(a) hundred times
(b) forty times
(c) fifty times
(d) ten times

Answer

Answer: (a) hundred times


Question 12.
He practised in the pool
(a) ten times a week
(b) five days a week
(c) twice a week
(d) thrice a week

Answer

Answer: (b) five days a week


Question 13.
Douglas calls him a
(a) nasty human being
(b) a brute
(c) a beautiful physical specimen
(d) a big bully

Answer

Answer: (c) a beautiful physical specimen


Question 14.
‘What do you think you can do to me’? These words were spoken by Douglas to
(a) a shark
(b) to his enemy
(c) to the boy who pushed him
(d) to terror

Answer

Answer: (d) to terror


Question 15.
The misadventure at the Y.M.C.A pool happened when
(a) Douglas was accompanied by friends
(b) he was with his father
(c) he was alone
(d) he was with his mother

Answer

Answer: (c) he was alone


Question 16.
‘All we have to fear is fear itself. Who said these words?
(a) Douglas
(b) his instructor
(c) his father
(d) President Roosevelt

Answer

Answer: (d) President Roosevelt


Question 17.
The incident in childhood had taken place at the beach in
(a) Florida
(b) Washington
(c) New York
(d) California

Answer

Answer: (d) California


Question 18.
Whenever terror struck again, Douglas would start
(a) shouting
(b) laughing
(c) crying
(d) talking to terror

Answer

Answer: (d) talking to terror


Question 19.
The pool’s depth at the deep end was
(a) twenty feet
(b) nine feet
(c) six feet
(d) eight feet

Answer

Answer: (b) nine feet


Question 20.
His mother warned him against swimming in the Yakima River because it had
(a) strong currents
(b) it was meant only for boating
(c) many people had drowned there
(d) it had no lifeguards around

Answer

Answer: (c) many people had drowned there


 

CBSE Class 12 English - MCQ and Online Tests - Unit 2 - Lost Spring

CBSE Class 12 English – MCQ and Online Tests – Unit 2 – Lost Spring

Every year CBSE conducts board exams for 12th standard. These exams are very competitive to all the students. So our website provides online tests for all the 12th subjects. These tests are also very effective and useful for those who preparing for competitive exams like NEET, JEE, CA etc. It can boost their preparation level and confidence level by attempting these chapter wise online tests.

These online tests are based on latest CBSE Class 12 syllabus. While attempting these our students can identify the weak lessons and continuously practice those lessons for attaining high marks. It also helps to revise the NCERT textbooks thoroughly.


 

CBSE Class 12 English – MCQ and Online Tests – Unit 2 – Lost Spring

Question 1.
If laws were to be enforced, it would bring about change and relief in the lives of about
(a) ten thousand children
(b) twenty thousand children
(c) hundred children
(d) a thousand children

Answer

Answer: (b) twenty thousand children


Question 2.
Bangle industry flourishes in the town of
(a) Ferozepur
(b) Firozabad
(c) Ferozgarh
(d) Farukhabad

Answer

Answer: (b) Firozabad


Question 3.
Mukesh belonged to a family of
(a) farmers
(b) rag-pickers
(c) bangle makers
(d) motor mechanics

Answer

Answer: (c) bangle makers


Question 4.
“One wonders if he has achieved what many have failed to achieve in their lifetime. He has a roof over his head”; these lines were said in reference to the condition of
(a) the elderly woman’s old husband
(b) Mukesh’s father
(c) the bangle factory owner
(d) Mukesh’s elder brother

Answer

Answer: (a) the elderly woman’s old husband


Question 5.
One day, Saheb was seen by the author, watching some young men playing
(a) cricket
(b) tennis
(c) hockey
(d) soccer

Answer

Answer: (b) tennis


Question 6.
According to the author, rag picking has become, over the years, a
(a) profession
(b) fine art
(c) tradition
(d) culture

Answer

Answer: (b) fine art


Question 7.
’Why do you do this?’ This question was asked by the author to
(a) the bangle sellers
(b) Mahesh
(c) Saheb
(d) Saheb’s mother

Answer

Answer: (c) Saheb


Question 8.
The rag pickers have no identity, but they have
(a) permits
(b) passports
(c) ration cards
(d) licenses

Answer

Answer: (a) permits


Question 9.
Mukesh wants to learn to become a motor mechanic by
(a) finding a tutor
(b) going to a garage to learn
(c) by reading books
(d) by joining a school

Answer

Answer: (b) going to a garage to learn


Question 10.
The colony of ragpickers is situated in
(a) the south of Delhi
(b) Mongolpuri
(c) Jehangirpuri
(d) Seemapuri

Answer

Answer: (d) Seemapuri


Question 11.
Which of the objects below best serves as a symbol of an Indian woman’s `suhag’?
(a) bindi
(b) sindoor
(c) bangles
(d) henna-dyed hands

Answer

Answer: (c) bangles


Question 12.
The frail woman in Mukesh’s house is his
(a) mother
(b) elder brother’s wife
(c) wife
(d) niece

Answer

Answer: (b) elder brother’s wife


Question 13.
What did the man from Udipi pray for, when he was young?
(a) a pair of trousers
(b) a pair of shoes
(c) a few friends
(d) an opportunity to study in a school

Answer

Answer: (b) a pair of shoes


Question 14.
What bothers the author most about the bangle makers?
(a) the stigma of poverty and caste
(b) the affluence of the landlords
(c) the behaviour of the factory owners
(d) the labour laws

Answer

Answer: (a) the stigma of poverty and caste


Question 15.
One explanation which the author gets about children choosing to remain barefoot is
(a) they have no money
(b) tradition
(c) no matching pairs
(d) like to wear only chappals

Answer

Answer: (b) tradition


Question 16.
‘Is your school ready? Who asked this question?
(a) Saheb’s mother
(b) Saheb’s friends
(c) the author
(d) Saheb

Answer

Answer: (d) Saheb


Question 17.
What were Saheb and his family looking for in Delhi?
(a) dollars
(b) rupees
(c) pounds
(d) gold

Answer

Answer: (d) gold


Question 18.
Sunny-gold, paddy green, royal blue, pink, purple, every colour born out of the seven colours of the rainbow. What is this a reference to?
(a) clothes
(b) birds
(c) bangles
(d) bindis

Answer

Answer: (c) bangles


Question 19.
Saheb’s home, before Delhi, was in
(a) Bengal
(b) Orissa
(c) Dhaka
(d) Bihar

Answer

Answer: (c) Dhaka


Question 20.
What was the profession of Mukesh’s father before he became a bangle-maker?
(a) tailor
(b) carpenter
(c) plumber
(d) Mason

Answer

Answer: (a) tailor


 

CBSE Class 12 English - MCQ and Online Tests - Unit 1 - The Last Lesson

CBSE Class 12 English – MCQ and Online Tests – Unit 1 – The Last Lesson

Every year CBSE conducts board exams for 12th standard. These exams are very competitive to all the students. So our website provides online tests for all the 12th subjects. These tests are also very effective and useful for those who preparing for competitive exams like NEET, JEE, CA etc. It can boost their preparation level and confidence level by attempting these chapter wise online tests.

These online tests are based on latest CBSE Class 12 syllabus. While attempting these our students can identify the weak lessons and continuously practice those lessons for attaining high marks. It also helps to revise the NCERT textbooks thoroughly.


 

CBSE Class 12 English – MCQ and Online Tests – Unit 1 – The Last Lesson

Question 1.
Why was Franz surprised?
(a) Because of village elders
(b) Because of police patrolling
(c) because of students’ behavior
(d) because of M.Hamel’s kind and polite behaviour

Answer

Answer: (d) because of M.Hamel’s kind and polite behaviour


Question 2.
What is the moral that the Alphonse Daudet wants to bring out?
(a) not to put off things that one can do that day
(b) old order changed to new
(c) one should accept everything that happens
(d) teachers should be respected

Answer

Answer: (a) not to put off things that one can do that day


Question 3.
What was Franz banking on to enter the class as he was late?
(a) M.Hamel’s teaching on the blackboard
(b) commotion in the class
(c) Hauser helping him sneak in
(d) to quietly walk in when everyone was preoccupied with participles

Answer

Answer: (b) commotion in the class


Question 4.
Why did Hamel blame himself?
(a) not having taught them enough French
(b) not being strict
(c) giving students a holiday at times
(d) not being responsible

Answer

Answer: (c) giving students a holiday at times


Question 5.
Who sat on the back bench on the last lesson?
(a) Franz
(b) Prussians
(c) the village people
(d) The new teacher

Answer

Answer: (c) the village people


Question 6.
M. Hamel is introduced as a ruler-wielding teacher. This demonstrates that:
(a) he is concerned.
(b) he is adamant.
(c) he is unfeeling.
(d) he is a hard taskmaster.

Answer

Answer: (d) he is a hard taskmaster.


Question 7.
What was M. Hamel going to question Franz about?
(a) participles
(b) adjectives
(c) old primer
(d) Ba be bi bo bu

Answer

Answer: (a) participles


Question 8.
What was Franz expected to be prepared for at school that day?
(a) song
(b) dance
(c) essay writing
(d) Participles

Answer

Answer: (d) Participles


Question 9.
For the last two years, where did all the bad news come from?
(a) the Bulletin Board
(b) Town Hall
(c) school
(d) M. Hamel’s House

Answer

Answer: (a) the Bulletin Board


Question 10.
Franz thinks- will they make them sing in German- even the pigeons? What could this mean?
(a) German would use brutal force over everyone
(b) harsh orders will be passed
(c) when people are deprived of their essence even the surroundings are affected.
(d) the Germans will rob France of its language.

Answer

Answer: (c) when people are deprived of their essence even the surroundings are affected.


Question 11.
Don’t go so fast, you will get to your school in plenty of time means ___
(a) getting late
(b) very early
(c) not early
(d) early enough

Answer

Answer: (d) early enough


Question 12.
What does M. Hamel’s motionless posture reflect?
(a) the school is dismissed
(b) sense of finality
(c) changing order of life
(d) feeling of nostalgia

Answer

Answer: (b) sense of finality


Question 13.
What did Mr. Hamel bring for his class on his last day in the school?
(a) new pens
(b) new notebooks
(c) sweets
(d) story books

Answer

Answer: (b) new notebooks


Question 14.
Franz looked for opportunities to skip school to do what?
(a) work on mills
(b) go fishing
(c) water the plants
(d) collect birds eggs

Answer

Answer: (d) collect birds eggs


Question 15.
Why did the villagers come to meet M. Hamel in the school?
(a) to complain
(b) to say goodbye
(c) to gossip
(d) to show gratitude

Answer

Answer: (d) to show gratitude


 

CBSE Class 12 Accountancy - MCQ and Online Tests - Unit 11 - Cash Flow Statement

CBSE Class 12 Accountancy – MCQ and Online Tests – Unit 11 – Cash Flow Statement

Every year CBSE conducts board exams for 12th standard. These exams are very competitive to all the students. So our website provides online tests for all the 12th subjects. These tests are also very effective and useful for those who preparing for competitive exams like NEET, JEE, CA etc. It can boost their preparation level and confidence level by attempting these chapter wise online tests.

These online tests are based on latest CBSE Class 12 syllabus. While attempting these our students can identify the weak lessons and continuously practice those lessons for attaining high marks. It also helps to revise the NCERT textbooks thoroughly.


 

CBSE Class 12 Accountancy – MCQ and Online Tests – Unit 11 – Cash Flow Statement

Question 1.
If net profit is 7 50,000 after writing off goodwill 7 10,000 then the cash flow from operating activities will be:
(a) ₹ 60,000
(b) ₹ 40,000
(c) ₹ 50,000
(d) ₹ 30,000

Answer

Answer: (a) ₹ 60,000


Question 2.
Which of the following is an example of Cash Flow from Operating Activities ?
(a) Purchase of Machinery
(b) Issue of Shares
(c) Purchases of Inventory for Cash
(d) Purchases of Investment

Answer

Answer: (c) Purchases of Inventory for Cash


Question 3.
Cash sales in :
(a) Operating Activity
(b) Investing Activity
(c) Financing Activity
(d) None of these

Answer

Answer: (a) Operating Activity


Question 4.
Issue of shares in consideration of purchase of plant and machinery results into :
(a) Inflow of Cash
(b) Outflow of Cash
(c) Neither Inflow nor Outflow
(d) None of these

Answer

Answer: (c) Neither Inflow nor Outflow


Question 5.
Decrease in Current Asset is……….in operating profit
(a) Subtracted
(b) Added
(c) Divided
(d) Multiplied

Answer

Answer: (b) Added


Question 6.
Cash from operating activities will decrease due to :
(a) Increase in Current Assets
(b) Decrease in Current Liabilities
(c) Neither of the two
(d) Both (a) and (b)

Answer

Answer: (d) Both (a) and (b)


Question 7.
While calculating operating profit which will be added to net profit:
(a) Interest received
(b) Profit on sale of Asset
(c) Increase in General Reserve
(d) Refund of Tax

Answer

Answer: (c) Increase in General Reserve


Question 8.
Preparation of cash flow statement is :
(a) Mendatory
(b) Recommendatory
(c) Required under the Companies Act
(d) None of these

Answer

Answer: (a) Mendatory


Question 9.
While calculating cash flow from operating netivities which will be deducted ?
(a) Increase in Creditors
(b) Increase in Debtors
(c) Decrease in Debtors
(d) Decrease in Prepaid Expenses

Answer

Answer: (b) Increase in Debtors


Question 10.
While calculating cash flow from operating activities, which will be added ?
(a) Increase in Stock
(b) Increase in Creditors
(c) Decrease in Bills Payable
(d) Increase in Debtors

Answer

Answer: (b) Increase in Creditors


Question 11.
An example of Cash Flows from Financing Activity is :
(a) Sale of goods
(b) Sale of Investment
(c) Cash receipts from issue of shares
(d) Interest received

Answer

Answer: (c) Cash receipts from issue of shares


Question 12.
How will you treat payment of ‘Interest of Debentures’ while preparing a Cash Flow Statement ?
(a) Cash Flow from Operating Activities
(b) Cash Flow from Investing Activities
(c) Cash Flow from Financing Activities
(d) Cash Equivalents

Answer

Answer: (c) Cash Flow from Financing Activities


Question 13.
Cash payment to employees is a Cash Flow from:
(a) Operating Activities
(b) Investing Activities
(c) Finance Activities
(d) All the above

Answer

Answer: (a) Operating Activities


Question 14.
Where will you show purchase of goodwill in Cash Flow Statement:
(a) Cash Flow from Operating Activities
(b) Cash Flow from Investing Activities
(c) Cash Flow from Financing Activities
(d) Cash Equivalent

Answer

Answer: (b) Cash Flow from Investing Activities


Question 15.
An example of Cash Flow from Investing Activities :
(a) Cash Sales
(b) Issue of Shares
(c) Payment of cash for purchase of machinery
(d) Payment of Dividend

Answer

Answer: (c) Payment of cash for purchase of machinery


Question 16.
Interest received by a finance company is classified under which kind of activity while preparing a Cash Flow Statement ?
(a) Cash Flow from Operating Activities
(b) Investing Activities
(c) Financing Activities
(d) Cash Equivalent

Answer

Answer: (a) Cash Flow from Operating Activities


Question 17.
Which of the following item is not considered as cash equivalents ?
(a) Bank Overdraft
(b) Commercial Papers
(c) Treasury Bills
(d) Investment

Answer

Answer: (d) Investment


Question 18.
Which of the following is not a Cash in Flow ?
(a) Sale of Fixed Asset
(b) Purchase of Fixed Asset
(c) Issue of Debentures
(d) Sale of Goods for Cash

Answer

Answer: (b) Purchase of Fixed Asset


Question 19.
In cash flow statement, the item of ‘Interest’ is shown in:
(a) Operating Activities
(b) Investing Activities
(c) Financial Activities
(d) In both (d) & (c)

Answer

Answer: (d) In both (d) & (c)


Question 20.
Which of the following is not a Cash Outflow:
(a) Increase in Creditors
(b) Increase in Debtors
(c) Increase in Stock
(d) Increase in prepaid expenses

Answer

Answer: (a) Increase in Creditors


Question 21.
If net profit is ₹ 35,000 after writing off good will ₹ 6,000 and loss on sale of furniture ₹ 1,000, cash flow from operating activities will be :
(a) ₹ 35,000
(b) ₹ 42,000
(c) ₹ 29,000
(d) ₹ 28,000

Answer

Answer: (b) ₹ 42,000


Question 22.
Income tax refund is a cash of:
(a) Source
(b) Application
(c) Both (a) & (b)
(d) None of these

Answer

Answer: (a) Source


Question 23.
Cash Flow Statement is prepared from:
(a) Balance Sheet
(b) Profit & Loss Account
(c) Additional Information
(d) All of these

Answer

Answer: (d) All of these


Question 24.
Cash Flow Statement in based upon:
(a) Cash basis of accounting
(b) Accrual basis of accounting
(c) (a) and (b) both
(d) None of these

Answer

Answer: (a) Cash basis of accounting


Question 25.
Which of the following is not a cash inflow ?
(a) Decrease in Debtors
(b) Issue of Debentures
(c) Decrease in Creditors
(d) None of these

Answer

Answer: (c) Decrease in Creditors


Question 26.
Cash from operation is equal to :
(a) Net Profit + Increase in Current Assets
(b) Net Profit + Decrease in Current Liabilities
(c) Operating Profit + Adjustment of Current Assets and Current Liabilities
(d) All of the above

Answer

Answer: (b) Net Profit + Decrease in Current Liabilities


Question 27.
Following Is included in Cash Flow from Operating Activities:
(a) Royalties, Fees, Commission
(b) Purchase of Debentures
(c) Purchase of Machinery
(d) issue of Shares

Answer

Answer: (a) Royalties, Fees, Commission


Question 28.
Cash Flow Statement is related to:
(a) AS-3
(b) AS-6
(c) AS-9
(d) AS-12

Answer

Answer: (b) AS-6


Question 29.
Which of the following item is considered as cash equivalents:
(a) Bank Overdraft
(b) Bills Receivable
(c) Debtors
(d) Short-term Investment

Answer

Answer: (a) Bank Overdraft


Question 30.
Which calculating cash flow from operating activities which is added net profit ?
(a) Increase in Stock
(b) Decrease in Stock
(c) Increase in Debtors
(d) Decrease in Creditors

Answer

Answer: (b) Decrease in Stock


Question 31.
Following are included in cash equivalent:
(a) Treasury Bill
(b) Trade Bill
(c) Bank Deposits of Short Maturity Period
(d) All of above

Answer

Answer: (d) All of above


Question 32.
Which activity comes under ‘Operating Activities’ ?
(a) Purchase of Land
(b) Issue of Debentures
(c) Proceeds from Issuance of Equity Shares
(d) Cash Sales

Answer

Answer: (d) Cash Sales


Question 33.
While calculating profit from operating activities, which will be added back to net profit:
(a) Goodwill Written off
(b) Depreciation
(c) Loss oh Sale of Fixed Assets
(d) All the Above

Answer

Answer: (d) All the Above


Question 34.
Which one of following is not a non-cash item ?
(a) Cash Sales
(b) Goodwill written off
(c) Depreciation
(d) Provision of Bad Debts

Answer

Answer: (a) Cash Sales


Question 35.
Claims received from Insurance Companies are treated as:
(a) Cash Flow from Operating Activities
(b) Cash Flow from Investing Activities
(c) Cash Flow from Financing Activities
(d) None of these

Answer

Answer: (a) Cash Flow from Operating Activities


Question 36.
Cash flow statement according to AS-3 is mandatory to:
(a) All enterprises
(b) Companies listed on a stock exchange
(c) Enterprises having turnover expending 50 Rs crore
(d) (b) & (c) both

Answer

Answer: (d) (b) & (c) both


Question 37.
Following are true about cash equivalent:
(a) More Liquid Short-term Investment
(b) Minimum risk
(c) Maturity of 3 months or less than 3 months
(d) All the above

Answer

Answer: (d) All the above


Question 38.
Which of the following is not the source of Cash ?
(a) Purchase of Fixed Assets
(b) Funds from Operations
(c) Issue of Debentures
(d) Sale of Fixed Assets

Answer

Answer: (a) Purchase of Fixed Assets


Question 39.
Which of the following activity comes under Financial Activities ?
(a) Receipts from issurence of Equity Shares
(b) Cash Sales
(c) Bank Overdraft
(d) Purchase of Debentures

Answer

Answer: (a) Receipts from issurence of Equity Shares


Question 40.
An analysis of cash flow is useful for..—.planning.
(a) Short-term
(b) Long-term
(c) Medium-term
(d) Very Long-period

Answer

Answer: (a) Short-term


 

CBSE Class 12 Accountancy - MCQ and Online Tests - Unit 10 - Accounting Ratios

CBSE Class 12 Accountancy – MCQ and Online Tests – Unit 10 – Accounting Ratios

Every year CBSE conducts board exams for 12th standard. These exams are very competitive to all the students. So our website provides online tests for all the 12th subjects. These tests are also very effective and useful for those who preparing for competitive exams like NEET, JEE, CA etc. It can boost their preparation level and confidence level by attempting these chapter wise online tests.

These online tests are based on latest CBSE Class 12 syllabus. While attempting these our students can identify the weak lessons and continuously practice those lessons for attaining high marks. It also helps to revise the NCERT textbooks thoroughly.


 

CBSE Class 12 Accountancy – MCQ and Online Tests – Unit 10 – Accounting Ratios

Question 1.
The gross profit ratio is the ratio of gross profit to :
(a) Net Cash Sales
(b) Net Credit Sales
(c) Closing Stock
(d) Net Total Sales

Answer

Answer: (d) Net Total Sales


Question 2.
Which one of the following ratios is most important in determining the long-term solvency of a company ?
(a) Profitability Ratio
(b) Debt-Equity Ratio
(c) Stock Turnover Ratio
(d) Current Ratio

Answer

Answer: (b) Debt-Equity Ratio


Question 3.
Liquidity Ratio:
MCQ Questions for Class 12 Accountancy Chapter 10 Accounting Ratios with Answers 4

Answer

Answer: (c)


Question 4.
The ratios are primarily measures of earning capacity of the business.
(a) Liquidity
(b) Activity
(c) Debt
(d) Profitability

Answer

Answer: (d) Profitability


Question 5.
Total Assets ₹ 8,10,000
Total Liabilities ₹ 2,60,000
Current Liabilities ₹ 40,000
Debt-equity ratio is:
(a) 0.05 : 1
(b) 0.4 : 1
(c) 2.5 : 1
(d) 4 : 1

Answer

Answer: (c) 2.5 : 1


Question 6.
Total Assets ₹ 7,70,000
Total Liabilities ₹ 2,60,000
Current Liabilities ₹ 40,000
Total Assets to Debt Ratio is:
(a) 3.5 : 1
(b) 2.56 : 1
(c) 2.8 : 1
(d) 3 : 1

Answer

Answer: (a) 3.5 : 1


Question 7.
Operating Ratio is:
(a) Profitability Ratio
(b) Activity Ratio
(c) Solvency Ratio
(d) None of these

Answer

Answer: (a) Profitability Ratio


Question 8.
The formula for ascertaining Total Assets to Debt Ratio is:
MCQ Questions for Class 12 Accountancy Chapter 10 Accounting Ratios with Answers 1

Answer

Answer: (a)


Question 9.
Which of the following is an operating’ income ?
(a) Sale of Merchandise
(b) Interest Income
(c) Dividend Income
(d) Profit on the sale of old car

Answer

Answer: (a) Sale of Merchandise


Question 10.
Which of the following non-operating expense?
(a) Rent
(b) Selling Expenses
(c) Wages
(d) Loss on Sale of Machinery

Answer

Answer: (d) Loss on Sale of Machinery


Question 11.
Current Ratio includes:
(a) Stock
(b) Debtors
(c) Cash
(d) All of these

Answer

Answer: (c) Cash


Question 12.
Proprietory ratio is calculated by the following formula:
MCQ Questions for Class 12 Accountancy Chapter 10 Accounting Ratios with Answers 2

Answer

Answer: (c)


Question 13.
The following groups of ratios primarily measure risk
(a) Liquidity, activity and profitability
(b) Liquidity, activity and common stock
(c) Liquidity, activity and debt
(d) Activity, debt and profitability

Answer

Answer: (d) Activity, debt and profitability


Question 14.
To know the return on investment, by capital employed we mean:
(a) Net Fixed Assets
(b) Current Asset-Current Liabilities
(c) Gross Block
(d) Fixed Assets + Current Assets-Current Liabilities

Answer

Answer: (d) Fixed Assets + Current Assets-Current Liabilities


Question 15.
The term fixed assets include :
(a) Cash
(b) Machinery
(c) Debtors
(d) Prepaid Expenses

Answer

Answer: (b) Machinery


Question 16.
If sales is 7 4,20,000 sales returns is 7 20,000 and cost of goods sold 7 3,20,000 gross profit ratio will be :
(a) 20%
(b) 25%
(c) 15%
(d) 10%

Answer

Answer: (a) 20%


Question 17.
Ratio based on figures of profit & loss as well a the Balance sheet are:
(a) Profitability Ratios
(b) Operation Ratio
(c) Liquidity Ratio
(d) Composite Ratio

Answer

Answer: (d) Composite Ratio


Question 18.
Equity share capital ₹ 15,00,000
Reserve and Surplus ₹ 7,50,000
Total Assets ₹ 45,00,000
Properletory Ratio ?
(a) 50%
(b) 33.3%
(c) 200%
(d) 60%

Answer

Answer: (a) 50%


Question 19.
Debtors Turnover Ratio :
MCQ Questions for Class 12 Accountancy Chapter 10 Accounting Ratios with Answers 3

Answer

Answer: (c)


Question 20.
When opening stock is ₹ 50,000 closing stock ₹ 60,000 and cost of goods sold is ₹ 2,20,000, then stock turn over ratio is:
(a) 2 times
(b) 3 times
(c) 4 times
(d) 5 times

Answer

Answer: (a) 2 times


Question 21.
What does Creditors Turnover Ratio take into account:
(a) Total credit purchases
(b) Total credit sales
(c) Total cash sales
(d) Total cash purchases

Answer

Answer: (a) Total credit purchases


Question 22.
Cost of goods sold :
(a) Sales – Net profit
(b) Sales – Gross profit
(c) Purchases – Opening Stock
(d) None of the above

Answer

Answer: (b) Sales – Gross profit


Question 23.
Proprietory Ratio indicates the relationship between proprietor’s funds and….
(a) Reserve
(b) Share Capital
(c) Total Assets
(d) Debentures

Answer

Answer: (c) Total Assets


Question 24.
The term‘Current Assets’include
(a) Long-term Investment
(b) Short-term Investment
(c) Furniture
(d) Preliminary Expenses

Answer

Answer: (b) Short-term Investment


Question 25.
The ideal liquid ratio is :
(a) 2 : 1
(b) 1 : 1
(c) 5 : 1
(d) 4 : 1

Answer

Answer: (b) 1 : 1


Question 26.
Profitability Ratios are generally expressed in :
(a) Simple Ratio
(b) Percentage
(c) Times
(d) None of these

Answer

Answer: (b) Percentage


Question 27.
Operating Ratio is:
(a) Profitability Ratio
(b) Activity Ratio
(c) Solvency Ratio
(d) None of these

Answer

Answer: (a) Profitability Ratio


Question 28.
Stock turnover ratio comes under :
(a) Liquidity Ratio
(b) Profitability Ratio
(c) Activity Ratio
(d) None of these

Answer

Answer: (c) Activity Ratio


Question 29.
The satisfactory ratio between internal and external equity is. :
(a) 1 : 2
(b) 2 : 1
(c) 3 : 1
(d) 4 : 1

Answer

Answer: (b) 2 : 1


Question 30.
Current Ratio =
(a) Current Assets/Current Liabilities
(b) Liquid Assets/Current Liabilities
(c) Liquid Assets/Current Assets
(d) Fixed Assets/Current Assets

Answer

Answer: (a) Current Assets/Current Liabilities


Question 31.
Liquid Assets include :
(a) Bills Receivable
(b) Debtors
(c) Cash Balance
(d) All of these

Answer

Answer: (d) All of these


Question 32.
The ideal current ratio is :
(a) 2 : 1
(b) 1 : 2
(c) 3 : 2
(d) 3 : 4

Answer

Answer: (a) 2 : 1


Question 33.
Which of the following assets is not taken into consideration in calculating acid-test ratio ?
(a) Cash
(b) Bills Receivable
(c) Stock
(d) None of these

Answer

Answer: (c) Stock


Question 34.
The two basic measures of liquidity are :
(a) Inventory Turnover and Current Ratio
(b) Current Ratio and Liquid Ratio
(c) Current Ratio and Average Collection Period
(d) Current Ratio and Debtors Turnover Ratio

Answer

Answer: (b) Current Ratio and Liquid Ratio


Question 35.
Liquid Ratio is also known as:
(a) Current Ratio
(b) Quick Ratio
(c) Capital Ratio
(d) None of these

Answer

Answer: (b) Quick Ratio


Question 36.
To test the liquidity of a concern which of the following ratios is useful ?
(a) Capital Turnover Ratio
(b) Acid Test Ratio
(c) Stock Turnover Ratio
(d) Net Profit Ratio

Answer

Answer: (b) Acid Test Ratio


Question 37.
Profitability Ratio is generally shown in :
(a) Simple Ratio
(b) Percentage
(c) Times
(d) None of these

Answer

Answer: (b) Percentage


Question 38.
When Cash is 7 10,000 Stock is 7 25,000, B/R is 7 5,000 Creditors is 7 22,000 and Bank Overdraft is 7 8,000 then current ratio is :
(a) 2 : 1
(b) 4 : 3
(c) 3 : 4
(d) 1 : 2

Answer

Answer: (b) 4 : 3


Question 39.
The term ‘Current Liabilities’ does not include: .
(a) Sundry Creditors
(b) Debentures
(c) Bills Payable
(d) Outstanding Expenses

Answer

Answer: (b) Debentures


 

CBSE Class 12 Accountancy - MCQ and Online Tests - Unit 9 - Analysis of Financial Statements

CBSE Class 12 Accountancy – MCQ and Online Tests – Unit 9 – Analysis of Financial Statements

Every year CBSE conducts board exams for 12th standard. These exams are very competitive to all the students. So our website provides online tests for all the 12th subjects. These tests are also very effective and useful for those who preparing for competitive exams like NEET, JEE, CA etc. It can boost their preparation level and confidence level by attempting these chapter wise online tests.

These online tests are based on latest CBSE Class 12 syllabus. While attempting these our students can identify the weak lessons and continuously practice those lessons for attaining high marks. It also helps to revise the NCERT textbooks thoroughly.


 

CBSE Class 12 Accountancy – MCQ and Online Tests – Unit 9 – Analysis of Financial Statements

Question 1.
Common-size Statement are also known as:
(a) Dynamic Analysis
(b) Horizontal Analysis
(c) Vertical Analysis
(d) External Analysis

Answer

Answer: (c) Vertical Analysis


Question 2.
The most commonly used tools for financial analysis are:
(a) Comparative Statements
(b) Common-size Statement
(c) Accounting Ratios
(d) All the above

Answer

Answer: (d) All the above


Question 3.
Tools for comparison of financial statements are :
(a) Comparative Balance Sheet
(b) Comparative Income Statement
(c) Common-size Statement
(d) All the above

Answer

Answer: (d) All the above


Question 4.
Comparative Financial Statements show:
(a) Financial position of a concern
(b) Earning capacity of a concern
(c) Both of them
(d) None of these

Answer

Answer: (c) Both of them


Question 5.
Common-size financial statements are mostly prepared:
(a) In proportion
(b) In percentage
(c) (a) and (b) both
(d) None of these

Answer

Answer: (b) In percentage


Question 6.
Which of the following is not a limitations of financial statement analysis ?
(a) To measure the financial strength
(b) Affected by window-dressing
(c) Do not reflect changes in price level
(d) Lack of Qualitative Analysis

Answer

Answer: (a) To measure the financial strength


Question 7.
Tangible assets of company increased from T 4,00,000 to T 5,00,000. What is the percentage of change ?
(a) 20%
(b) 25%
(c) 33%
(d) 50%

Answer

Answer: (b) 25%


Question 8.
Horizontal Analysis is also known as :
(a) Dynamic Analysis
(b) Structural Analysis
(c) Static Analysis
(d) None of these

Answer

Answer: (a) Dynamic Analysis


Question 9.
Which of the following shows the actual financial position of n enterprise ?
(a) Fund Flow
(b) Balance Sheet
(c) P & L A/c
(d) Ratio Analysis

Answer

Answer: (b) Balance Sheet


Question 10.
A company’s net sales are ₹ 15,00,000; cost of sales is ₹ 10,00,000 and indirect expenses are ₹ 3,00,000, the amount gross profit will be:
(a) ₹ 13,00,000
(b) ₹ 5,00,000
(c) ₹ 2,00,000
(d) ₹ 12,00,000

Answer

Answer: (c) ₹ 2,00,000


Question 11.
If total assets of a firm are 7 12,00,000 and its non of non-current assets to total assets ?
(a) 50%
(b) 75%
(c) 25%
(d) 80%

Answer

Answer: (b) 75%


Question 12.
Which of the following is the purpose or objective of financial analysis ?
(a) To assess the current profitability of the firm
(b) To measure the solvency of the firm
(c) To assess the short-term and long-term liquidity position of the firm
(d) All the above

Answer

Answer: (d) All the above


Question 13.
Financial analysis is significant because it:
(a) Ignores qualitative aspect
(b) Judges operational efficiency
(c) Suffers from the limitations of financial statements
(d) It is affected by personal ability and bias of the analysis

Answer

Answer: (b) Judges operational efficiency


Question 14.
If total assets of a firm are 7 10,00,000 and its non-current assets are 7 6,00,000, what will be the percentage of current assets on total assets ?
(a) 60%
(b) 50%
(c) 40%
(d) 30%

Answer

Answer: (c) 40%


Question 15.
Break-even point refers to that point where :
(a) Total Costs are more than Total Sales
(b) Total Costs are less than Total Sales
(c) Total Costs are half of the Total Sales
(d) Total Cost are equal to total sales

Answer

Answer: (d) Total Cost are equal to total sales


Question 16.
Payment of Income Tax is considered as :
(a) Direct Expenses
(b) Indirect Expenses
(c) Operating Expenses
(d) None of these

Answer

Answer: (b) Indirect Expenses


Question 17.
Which of these are not the method of financial statement analysis ?
(a) Ratio Analysis
(b) Comparative Analysis
(c) Trend Analysis
(d) Capitalisation Method

Answer

Answer: (d) Capitalisation Method


Question 18.
In a common-size Balance Sheet, total equity and liabilities are assumed to be equal to :
(a) 1,000
(b) 100
(c) 10
(d) 1

Answer

Answer: (b) 100


Question 19.
Interpretation of Financial Statements includes:
(a) Criticisms and Analysis
(b) Comparison and Trend Study
(c) Drawing Conclusion
(d) All the above

Answer

Answer: (d) All the above


Question 20.
Break-even Analysis shows:
(a) Relationship between cost and sales
(b) Relationship between production and purchases
(c) Relationship between cost and revenue
(d) None of these

Answer

Answer: (a) Relationship between cost and sales


Question 21.
Sales less Cost of goods sold is called :
(a) Operating Profit
(b) Gross Profit
(c) Net Profit
(d) Total Profit

Answer

Answer: (b) Gross Profit


Question 22.
Trend ratios and trend percentage are used in :
(a) Dynamic analysis
(b) Static analysis
(c) Horizontal analysis
(d) Vertical Analysis

Answer

Answer: (c) Horizontal analysis


Question 23.
In which meeting of company directors report is presented ?
(a) Directors Meeting
(b) Annual General Meeting
(c) Manager’s Meeting
(d) All of the above

Answer

Answer: (b) Annual General Meeting


Question 24.
Analysis of financial statements involve :
(a) Trading A/c
(b) Profit & Loss statement
(c) Balance Sheet
(d) All the above

Answer

Answer: (d) All the above


Question 25.
Comparative financial analysis process shows the comparison between the items of which statement:
(a) Balance Sheet
(b) Profit & Loss Statement
(c) (a) and (b) both
(d) None of these

Answer

Answer: (c) (a) and (b) both


Question 26.
What is shown by Balance Sheet ?
(a) Accuracy of books of accounts
(b) Profit or loss of a specific period
(c) Financial position on a specific date
(d) None of the above

Answer

Answer: (c) Financial position on a specific date


Question 27.
A company’s shareholders fund was 7 8,00,000 in the year 2015. It because 7 12,00,000 in the year 2016. What is percentage of change ?
(a) 100%
(b) 25%
(c) 50%
(d) 33.3%

Answer

Answer: (c) 50%


Question 28.
The financial statements of a business enterprise include:
(a) Balance Sheet
(b) Profit & Loss Account
(c) Cash Flow Statement
(d) All the above

Answer

Answer: (d) All the above


Question 29.
An annual report is issued by company to its :
(a) Directors
(b) Auditors
(c) Shareholders
(d) Management

Answer

Answer: (c) Shareholders


Question 30.
The analysis of financial statement by a shareholder is an example of:
(a) External Analysis
(b) Internal Analysis
(c) Vertical Analysis
(d) Horizontal Analysis

Answer

Answer: (a) External Analysis


Question 31.
Financial analysis is useful:
(a) For Investors
(b) For Shareholders
(c) For Debenture holders
(d) All the above

Answer

Answer: (d) All the above


Question 32.
Balance Sheet provides information about financial position of the enterprise :
(a) At a Point of Time
(b) Over a Period of Time
(c) For a Period of Time
(d) None of the above

Answer

Answer: (a) At a Point of Time


Question 33.
Profit & Loss Account is also called :
(a) Balance Sheet
(b) Income Statements
(c) Operating Profit
(d) Investment

Answer

Answer: (b) Income Statements


Question 34.
Vertical Analysis is also known as :
(a) Fluctuation Analysis
(b) Static Analysis
(c) Horizontal Analysis
(d) None of these

Answer

Answer: (b) Static Analysis


Question 35.
Which of the following statement is correct ?
(a) Assets = Liabilities + Shareholders funds
(b) Assets = Total funds
(c) Assets = Funds of outsiders .
(d) None of the above

Answer

Answer: (a) Assets = Liabilities + Shareholders funds


Question 36.
What is shown by the Income Statement ?
(a) Accuracy of books of accounts
(b) Profit or loss of a certain period
(c) Balance of Cash Book
(d) None of these

Answer

Answer: (b) Profit or loss of a certain period


Question 37.
Out of the following which parties are interested in financial statements ?
(a) Managers
(b) Financial Institutions
(c) Creditors
(d) All the these

Answer

Answer: (d) All the these


Question 38.
Financial analysis is significant because it:
(a) Ignores qualitative aspect
(b) Judges operational efficiency
(c) Suffers from the limitations of financial statements
(d) It is affected by personal ability and bias of the analysis

Answer

Answer: (b) Judges operational efficiency


Question 39.
Comparative Statements are also known as :
(a) Dynamic Analysis
(b) Horizontal Analysis
(c) Vertical Analysis
(d) External Analysis

Answer

Answer: (b) Horizontal Analysis


 

CBSE Class 12 Accountancy - MCQ and Online Tests - Unit 8 - Financial Statements of a Company

CBSE Class 12 Accountancy – MCQ and Online Tests – Unit 8 – Financial Statements of a Company

Every year CBSE conducts board exams for 12th standard. These exams are very competitive to all the students. So our website provides online tests for all the 12th subjects. These tests are also very effective and useful for those who preparing for competitive exams like NEET, JEE, CA etc. It can boost their preparation level and confidence level by attempting these chapter wise online tests.

These online tests are based on latest CBSE Class 12 syllabus. While attempting these our students can identify the weak lessons and continuously practice those lessons for attaining high marks. It also helps to revise the NCERT textbooks thoroughly.


 

CBSE Class 12 Accountancy – MCQ and Online Tests – Unit 8 – Financial Statements of a Company

Question 1.
An Annual Report is issued by a company to its:
(a) Directors
(b) Authors
(c) Shareholders
(d) Management

Answer

Answer: (c) Shareholders


Question 2.
The assets of a business can be classified as :
(a) Fixed and Non-fixed Assets
(b) Tangible and Intangible Assets
(c) Non-Current and Current Asset
(d) None of these

Answer

Answer: (c) Non-Current and Current Asset


Question 3.
Which of the following is the element of financial statements?
(a) Balance Sheet
(b) Profit & Loss A/c
(c) Both (a) and (b)
(d) None of these

Answer

Answer: (c) Both (a) and (b)


Question 4.
Financial statements are the product of accounting process.
(a) First
(b) Second
(c) End
(d) None of these

Answer

Answer: (c) End


Question 5.
Financial statements disclose :
(a) Monetary information
(b) Qualitative information
(c) Non-monetary information
(d) All the above

Answer

Answer: (a) Monetary information


Question 6.
Which of the following is not required to be prepared under the Companies Act:
(a) Statement of Profit & Loss
(b) Balance Sheet
(c) Anditor’s Report
(d) Fund Flow Statement

Answer

Answer: (c) Anditor’s Report


Question 7.
Statement of Profit & Loss is also called………:
(a) Operating Profit
(b) Balance Sheet
(c) Income Statement
(d) Trading Account

Answer

Answer: (c) Income Statement


Question 8.
Preliminary expenses are shown in the Balance Sheet under the head:
(a) Non-current assets
(b) Current assets
(c) Non-current liabilities
(d) Deducted from securities premium reserve

Answer

Answer: (d) Deducted from securities premium reserve


Question 9.
The term financial statements includes :
(a) Statement of Profit & Loss
(b) Balance Sheet
(c) Statement of Profit & Loss and Balance Sheet
(d) None of these

Answer

Answer: (c) Statement of Profit & Loss and Balance Sheet


Question 10.
Patents and copyrights fall under the category of:
(a) Current Assets
(b) Liquid Assets
(c) Intangible Assets
(d) None of these

Answer

Answer: (c) Intangible Assets


Question 11.
Goodwill falls under which category of assets:
(a) Current Assets
(b) Tangible Assets
(c) Intangible Assets
(d) None of the above

Answer

Answer: (c) Intangible Assets


Question 12.
Debit Balance of Profit & Loss Statement will be shown on:
(a) Assets Side of Balance Sheet
(b) Liabilities Side of Balance Sheet
(c) Under the head Reserve & Surplus
(d) Under the head Reserves and Surplus as a negative item

Answer

Answer: (d) Under the head Reserves and Surplus as a negative item


Question 13.
Preliminary Expenses are shown in the Balance Sheet under which head ?
(a) Fixed Assets
(b) Reserves and Surplus
(c) Loans & Advances
(d) None of these

Answer

Answer: (d) None of these


Question 14.
The profit and loss disclosed by the accounts of a company is:
(a) Transferred to share capital account
(b) Shown under the head of ‘Current liabilities’ and provisions
(c) Shown under the head ‘Reserves and Surplus
(d) None of these

Answer

Answer: (c) Shown under the head ‘Reserves and Surplus


Question 15.
Financial Statements are :
(a) Anticipated facts
(b) Recorded facts
(c) Estimated facts
(d) None of these

Answer

Answer: (b) Recorded facts


Question 16.
As per provisions of Companies Act, 2013 under which Section, the final accounts of a company is prepard :
(a) 128
(b) 210
(c) 129
(d) 212

Answer

Answer: (c) 129


Question 17.
Balance Sheet is a :
(a) Account
(b) Statement
(c) Both (a) and (b)
(d) All the above

Answer

Answer: (b) Statement


Question 18.
Provision for Provident Funds is shown in the Balance Sheet of a company under the head :
(a) Reserves and Surplus
(b) Non-current Liabilities
(c) Provision
(d) Contingent Liabilities

Answer

Answer: (b) Non-current Liabilities


Question 19.
Contingent Liabilities are exhibited under the heading:
(a) Fixed Liabilities
(b) Current Liabilities
(c) As a footnote
(d) None of these

Answer

Answer: (c) As a footnote


Question 20.
Equity ₹ 90,000 Liabilities ₹ 60,000 Profit of the year ₹ 20,000. Then total assets will be :
(a) ₹ 1.70,000
(b) ₹ 1,50,000
(c) ₹1,10,000
(d) ₹ 80,000

Answer

Answer: (a) ₹ 1.70,000


Question 21.
The term current assets includes :
(a) Stock
(b) Debtors
(c) Cash
(d) All of these

Answer

Answer: (d) All of these


Question 22.
The reserve which is created for a particular (specific) purpose and which is a charge against revenue is called:
(a) Capital Reserve
(b) General Reserve
(c) Secret Reserve
(d) Specific Reserve

Answer

Answer: (d) Specific Reserve


Question 23.
Under which heading of Balance Sheet is general reserve shown:
(a) Miscellaneous Expenditure
(b) Share Capital
(c) Reserves & Surplus
(d) None of these

Answer

Answer: (c) Reserves & Surplus


Question 24.
Which of the following assets is not shown undeer the head ‘Fixed Asset’ in the Balance Sheet ?
(a) Goodwill
(b) Bills Receivable
(c) Buildings
(d) Vehicle

Answer

Answer: (b) Bills Receivable


Question 25.
According to which part of Schedule III of the Indian Companies Act, 2013, Indian companies have to prepare Balance Sheet:
(a) Part 1
(b) Part 2
(c) Part 3
(d) Part 4

Answer

Answer: (a) Part 1


Question 26.
Which of the following is not a part of financial statement of a company ?
(a) Profit & Loss A/c
(b) Balance Sheet
(c) Ledger Account
(d) Cash Flow Statement

Answer

Answer: (c) Ledger Account


Question 27.
Balance sheet of companies is now prepared in :
(a) Horizontal Form
(b) Vertical Form
(c) Either (a) or (b) Form
(d) None of these

Answer

Answer: (b) Vertical Form


Question 28.
Current Assets on the Assets side of Balance Sheet of a Company includes:
(a) Sundry Debtors
(b) Cash in hand
(c) Stock
(d) All of these

Answer

Answer: (d) All of these


Question 29.
Goodwill of a company is shown on the assets side of the Balance Sheet under the head.
(a) Current Assets
(b) Non-current Assets
(c) Miscellaneous Expenditure
(d) None of these

Answer

Answer: (b) Non-current Assets


Question 30.
The form of Balance Sheet as per Companies Act, 2013 is:
(a) Horizontal
(b) Horizontal or Vertical
(c) Vertical
(d) None of these

Answer

Answer: (c) Vertical


 

CBSE Class 12 Accountancy - MCQ and Online Tests - Unit 7 - Issue and Redemption of Debentures

CBSE Class 12 Accountancy – MCQ and Online Tests – Unit 7 – Issue and Redemption of Debentures

Every year CBSE conducts board exams for 12th standard. These exams are very competitive to all the students. So our website provides online tests for all the 12th subjects. These tests are also very effective and useful for those who preparing for competitive exams like NEET, JEE, CA etc. It can boost their preparation level and confidence level by attempting these chapter wise online tests.

These online tests are based on latest CBSE Class 12 syllabus. While attempting these our students can identify the weak lessons and continuously practice those lessons for attaining high marks. It also helps to revise the NCERT textbooks thoroughly.


 

CBSE Class 12 Accountancy – MCQ and Online Tests – Unit 7 – Issue and Redemption of Debentures

Question 1.
Premium on redemption of debentures is generally provided at the time of ……………
(a) Issue of debentures
(b) Redemption of debentures
(c) Writing off
(d) After 10 years

Answer

Answer: (b) Redemption of debentures


Question 2.
If debentures purchased in open market are not immediately cancelled, they are treated as :
(a) Current Assets
(b) Current Liabilities
(c) Investment
(d) Capital

Answer

Answer: (c) Investment


Question 3.
When all debentures are redeemed, balance in the Debenture Redemption Fund Account is transferred to:
(a) Capital Reserve
(b) General Reserve
(c) Profit & Loss Appropriation A/c
(d) None of these

Answer

Answer: (a) Capital Reserve


Question 4.
Premium on redemption of debentures is a :
(a) Personal A/c
(b) Real A/c
(c) Nominal A/c
(d) Suspense A/c

Answer

Answer: (c) Nominal A/c


Question 5.
Sources of finance of the redemption of debentures are:
(a) Redemption out of profits
(b) Redemption out of capital
(c) The proceeds from fresh issue of shares/debentures
(d) All the above

Answer

Answer: (d) All the above


Question 6.
A company issued 1,000, 12% debentures of ₹ 100 each at 10% premium. 12% stand for:
(a) Rate of dividend
(b) Rate of Tax
(c) Rate of interest
(d) None of these

Answer

Answer: (c) Rate of interest


Question 7.
According to SEBI guidelines, a Company will have to create debenture redemption reserve equivalent to the amount of the following percentage of debenture issued:
(a) 50%
(b) 25%
(c) 70%
(d) 100%

Answer

Answer: (b) 25%


Question 8.
A company should transfer to Debenture Redemption Reserve A/c at least what percent of the amount of debentures issued before the commencement of redemption of debentures-
(a) 50%
(b) 25%
(c) 15%
(d) 100%

Answer

Answer: (b) 25%


Question 9.
Loss on Issue of Debenture Account is shown:
(a) On Assets side of Balance Sheet
(b) On Liabilities side of Balance Sheet
(c) On Credit side of P & L Account
(d) None of these

Answer

Answer: (a) On Assets side of Balance Sheet


Question 10.
Debentures cannot be redeemed at:
(a) Par
(b) Premium
(c) Discount
(d) More than 10% premium

Answer

Answer: (c) Discount


Question 11.
The balance of ‘Sinking Fund Account’ after the redemption of debentures is transferred to :
(a) Profit & Loss Account
(b) Profit & Loss Appropriation Account
(c) General Reserve Account
(d) Sinking Fund Account

Answer

Answer: (c) General Reserve Account


Question 12.
Profit on sale of Sinking Fund Investment is transferred to:
(a) Profit & Loss Account
(b) General Reserve
(c) Sinking Fund Account
(d) Capital Reserve

Answer

Answer: (c) Sinking Fund Account


Question 13.
Premium on Redemption of Debentures A/c is:
(a) Asset
(b) Expenses
(c) Liability
(d) Revenue

Answer

Answer: (c) Liability


Question 14.
If redemption of debentures is made by conversion method, the amount to be transferred to ‘Debenture Redemption Reserve Account’ will be equal to…….percent of converted amounted.
(a) 40
(b) 50
(c) 60
(d) Not required

Answer

Answer: (d) Not required


Question 15.
Interest on sinking fund investment is credited to :
(a) Profit & Loss A/c
(b) Sinking Fund A/c
(c) General Reserve A/c
(d) Sinking Fund Investment A/c

Answer

Answer: (b) Sinking Fund A/c


Question 16.
Profit on cancellation of own debentures is transferred to:
(a) Profit & Loss Account
(b) Profit & Loss Appropriation Account
(c) General Reserve Account
(d) Capital Reserve Account

Answer

Answer: (d) Capital Reserve Account


Question 17.
Sinking fund investment is:
(a) An Income
(b) An exause
(c) An Asset
(d) A Liability

Answer

Answer: (c) An Asset


Question 18.
Own debentures are those debentures of the company which ?
(a) The company allots to its own promotors
(b) The company allots to its directors
(c) The company purchases from the markets and hold them as investments
(d) None of these

Answer

Answer: (c) The company purchases from the markets and hold them as investments


Question 19.
When debentures are redeemed out of profits, an equivalent amount is transferred to :
(a) General Reserve
(b) Debenture Redemption Reserve
(c) Capital Reserve
(d) Profit & Loss A/c

Answer

Answer: (b) Debenture Redemption Reserve


Question 20.
When debentures are issued at par and are redeemable at a premium, the loss on such an issue is debited to :
(a) Profit & Loss A/c
(b) Debenture Application and Allotment A/c
(c) Loss on Issue of Debentures A/c
(d) Premium on Redemption A/c

Answer

Answer: (c) Loss on Issue of Debentures A/c


Question 21.
When debentures are issued at a discount and are redeemable at a premium, which of the following accounts is debited at the time of issue ?
(a) Debentures A/c
(b) Premium on Redemption of Debentures A/c
(c) Loss on Issue of Debentures A/c
(d) Profit & Loss A/c

Answer

Answer: (c) Loss on Issue of Debentures A/c


Question 22.
Debentures can be redeemed out of:
(a) Profit
(b) Capital
(c) Provision
(d) All of the above

Answer

Answer: (d) All of the above


Question 23.
Profit on redemption of debentures in transferred to which account ?
(a) Capital Reserve Account
(b) Sinking Gund Account
(c) General Reserve Account
(d) Profit & Loss Account

Answer

Answer: (a) Capital Reserve Account


Question 24.
Profit on sale of debentures redemption fund investment in the first instance in credited to :
(a) Debenture Redemption Fund A/c
(b) Profit & Loss Appropriation A/c
(c) General Reserve A/c
(d) Sinking Fund A/c

Answer

Answer: (a) Debenture Redemption Fund A/c


Question 25.
Profit on cancellation of own debentures is :
(a) Revenue Profit
(b) Capital Profit
(c) Operating Profit
(d) Trading Profit

Answer

Answer: (b) Capital Profit


Question 26.
6,000 debentures of ₹ 10 each where discharged by issuing equity shares of ₹ 10 each at 20% premium. The number of shares issued will be :
(a) 50,000
(b) 60,000
(c) 5,000
(d) 6,000

Answer

Answer: (c) 5,000


Question 27.
Every company required to create DRR shall on or before the 30th April of each year, deposit or invest, a sum which shall not be less than…………of the amount of its debentures maturing (to be redeemed) during the year ending on 31st March of the next year.)
(a) 10%
(b) 15%
(c) 25%
(d) 50%

Answer

Answer: (b) 15%


Question 28.
According to SEBI guidelines what percentage of the amount of debentures must be transferred to Debenture Redemption Reserve, before the commencement of redumption of debentures, in case of convertible debentures ?
(a) 25%
(b) 50%
(c) 100%
(d) zero

Answer

Answer: (d) zero


Question 29.
A Sinking Fund is a part of:
(a) Fixed Liabilities
(b) Current Liabilities
(c) Reserves and Surplus
(d) Fixed Assets

Answer

Answer: (c) Reserves and Surplus


Question 30.
A company issued 1000, 12% debentures of ₹ 100 each at 10% premium. 12% stand for :
(a) Rate of Dividend
(b) Rate of Tax
(c) Rate of Interest
(d) None of these

Answer

Answer: (c) Rate of Interest


Question 31.
On liquidation of a company, principal amount of debentures is returned:
(a) First of all
(b) Last of all
(c) Before Equity Capital
(d) None of those

Answer

Answer: (a) First of all


Question 32.
BST Ltd. want to redeem its 900, 10% debentures at 105% by converting them into shares of ₹ 10 each at ₹ 9 each. The number of shares to be issued will be :
(a) 9,000 Shares
(b) 10,500 Shares
(c) 10,000 Shares
(d) 8,500 Shares

Answer

Answer: (b) 10,500 Shares


Question 33.
‘Premium on Redemption of Debentures A/c is in the nature of:
(a) Personal A/c
(b) Real A/c
(c) Nominal A/c
(d) None of these

Answer

Answer: (c) Nominal A/c


Question 34.
Debenture is a :
(a) Loan certificate
(b) Cash certificate
(c) Credit certificate
(d) None of these

Answer

Answer: (a) Loan certificate


Question 35.
Debentures represent:
(a) Director’s Share in a Company
(b) Investments by Equity Shareholders
(c) Long-term Debt of the Business
(d) None of these

Answer

Answer: (c) Long-term Debt of the Business


Question 36.
Debenture holders are the :
(a) Customers of the Company
(b) Owners of the Company
(c) Creditors of the Company
(d) None of these

Answer

Answer: (c) Creditors of the Company


Question 37.
In case of issue of debentures as a collateral security for loan from the bank which account will be debited :
(a) Bank Account
(b) Bank Loan Account
(c) Debentures Account
(d) Debentures Suspense Account

Answer

Answer: (d) Debentures Suspense Account


Question 38.
Deep Ltd. issue 10,00,000, 7 % debentures of 100 Rs. each at a discount of 4%, redeemable after 5 years at a premium of 6%. Loss issue of debentures is :
(a) ₹ 10,00,000
(b) ₹ 6,00,000
(c) ₹ 16,00,000
(d) ₹ 4,00,000

Answer

Answer: (a) ₹ 10,00,000


Question 39.
If debenture of ₹ 1,00,000 were issued for discount of ₹ 10,000, which are redeemable after four years. Then amount of discount to be written off from P. & L. Account each year is :
(a) ₹ 3,000
(b) ₹ 4,000
(c) ₹ 2,500
(d) ₹ 5,000

Answer

Answer: (c) ₹ 2,500


Question 40.
Debentures which are transferred by mere delivery are called:
(a) Registered Debentures
(b) First Debentures
(c) Bearer Debentures
(d) None of these

Answer

Answer: (c) Bearer Debentures


Question 41.
In the Balance Sheet of a Company, Debentures are shown under the head :
(a) Unsecured Loans
(b) Long-term Loans
(c) Current Liabilities
(d) Reserve and Surplus

Answer

Answer: (b) Long-term Loans


Question 42.
If debentures of ₹ 4,50,000 are issued for the consideration of net assets of ₹ 5,00,000 balance ₹ 50,000 will be credited to:
(a) Profit & Loss A/c
(b) Goodwill A/c
(c) General Reserve A/c
(d) Capital Reserve A/c

Answer

Answer: (d) Capital Reserve A/c


Question 43.
Discount on issue of Debentures is in the nature of:
(a) Revenue Loss
(b) Capital Loss
(c) Deferred Revenue Expenditure
(d) None of there

Answer

Answer: (b) Capital Loss


Question 44.
Debentures cannot be redeemed at:
(a) Premium
(b) Discount
(c) Par
(d) None of these

Answer

Answer: (b) Discount


Question 45.
Interest payable on debentures is :
(a) An appropriation of profits of the company
(b) A charge against profits of the company
(c) Transfer to Sinking Fund
(d) None of the above

Answer

Answer: (b) A charge against profits of the company


 

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