Accounting MCQs

Distribution of income by way of public expenditure is

If the cost of goods sold is Rs. 1 lakh, the value of opening and closing is Rs. 20,000 and Rs. 30,000 respectively, the stock turnover ratio will be:

In absence of an agreement, loss arising out of a partner becoming insolvent shall be borne by solvent partner in

An act of giving up the title to the shares by an allottee, in favour of his nominees either in full or in part is known as:

If rate of profit is 25% of cost, then it is

As per section 205 (2A) a company is obliged to transfer at least what amount in reserve, if the rate of dividend is more than 20% of the paid up capital? or If the proposed dividend is 20% the percentage of profits to be transferred to reserve is:

Preference shares can be redeemed

Non-convertible debenture refer to:

X Ltd. purchased 70% of the shares of Y Ltd. at a price on 1,00,000. Share capital of Y Ltd. was of Rs. 70,000 and its accumulated profits amounted to Rs. 90,000. What would be the amount of Minority Interest in the consolidated balance sheet?