Commerce MCQ Question and Answer
Commerce MCQ Question and Answer
221. In the absence of Articles of Association, an Auditor should keep in mind—
- Prospectus
- Table ‘A’
- Memorandum of Association
- Legal Declaration
222. Who may recommend Special Audit of a Company ?
- Directors of the Company
- Shareholders of the Company
- Debentureholders of the Company
- Central Government
223. Internal check is a part of—
- Internal Audit
- Internal Control
- Annual Audit
- Standard Audit
224. Cost Audit Report is to be submitted to—
- The Company
- The Central Government with a copy to the Company
- The Central Government
- The Company Secretary
225. A company auditor addresses his report to—
- Board of Directors
- Members
- Managing Director
- Company Secretary
226. Which of the following Sections of the Companies’ Act 1956 relates to the maintenance of proper books of accounts ?
- Section-211
- Section-217
- Section-209
- Section-205
227. X and Y are partners sharing profits in the ratio of 4 : 3. They admit a new partner Z and new profit sharing ratio is 7 : 4 : 3. The sacrificing ratio
between X and Y will be—
between X and Y will be—
- Equal
- 4 : 3
- 2 : 1
- 1 : 2
228. Given :
Realised value of assets Rs. 60,000
Profit on Realisation Rs. 3,000
Book value of assets will be—
Realised value of assets Rs. 60,000
Profit on Realisation Rs. 3,000
Book value of assets will be—
- Rs. 63,000
- Rs. 57,000
- Rs. 60,000
- Rs. 61,500
229. A, B and C are partners sharing profits and losses in the ratio of 4 : 3 : 2. D is admitted for 1/10 share. The new ratio will be—
- 5 : 4 : 3 : 2
- 4 : 4 : 3 : 2
- 4 : 3 : 2 : 1
- None of the above
230. If actual average profit is Rs. 30,000 and normal rate of return is 12%, then capitalization value of the profits will be—
- Rs. 3,60,000
- Rs. 2,50,000
- Rs. 3,05,000
- None of the above