Question : Writing off bad debts against the provision for doubtful debts; would result in inflow/outflow/no flow of Cash and Cash Equivalents:

Option 1: Inflow of cash

Option 2: Outflow of cash

Option 3: Neither inflow Nor outflow

Option 4: Cash and cash equivalent

Question : A and B are partners in a firm. Their balance sheet as at 31 st March, 2018 was as follows:

C was taken into partnership as from 1st April, 2018. C brought Rs.40,000 as his capital but he is unable to bring any amount for goodwill. New profit sharing ratio is 3: 2: 1. Following terms were agreed upon :
1. Claim on account of Workmen's Compensation is Rs.3,000.
2. To write off Bad Debts amounting to Rs.6,000.
3. Creditors are to be paid Rs.2,000 more.
4. Rs.2,000 be provided for an unforeseen liability.
5. Outstanding expenses be brought down to Rs. 1,200.
6. Goodwill is valued at $1 \frac{1}{2}$ year's purchase of the average profits of last three years. Profits of 3 years amounted to Rs.8,000; Rs. 10,000 and Rs. 18,000 .
Question:
Which account will be debited and crediting in Respect of treatment of goodwill.

Option 1: premium for goodwill debiting Rs 3,000 and Crediting B's capital account by Rs 3,000

Option 2: debiting C's current account Rs 3,000 and crediting B's capital account with Rs 3,000

Option 3: debiting Cs current account Rs 3,000 and crediting B and A Rs 1,500 each

Option 4: None of the above

Question : Comprehension:

In the following passage, some words have been deleted. Read the passage carefully and select the most appropriate option to fill in each blank.

Unemployment arises from a variety of_____ (1). One which is always recurring and the effects of which we have had a recent example is the disorganisation of the industry resulting from a long war, this is a serious______ (2) admitting of no easy ________(3) at the best of times. Again there is unemployment which followed a marked diminution in the______ (4) of any raw product, such as cotton; fewer hands are required in the mills and the factories. We may call this the cause of bad harvests. Similar, but more serious is the effect of changes in industry due to the invention of machinery which does more work and requires________ (5) hands. Yet another cause is strike or lockout and this is more to be deplored because such a stoppage is due to a very trivial matter, perhaps the men are working half an hour longer than what their Union permits.

Select the most appropriate option to fill in the blank number 3.

Option 1: key

Option 2: clue

Option 3: answer

Option 4: solution

Question : Select the most appropriate meaning of the given idiom.
Get cold feet

Option 1: To get no results

Option 2: To be in a bad mood

Option 3: To feel nervous about doing something

Option 4: To escape from something

Question : Comprehension:

In the following passage, some words have been deleted. Fill in the blanks with the help of the alternatives given. Select the most appropriate option for each blank.

The rain was coming down relentlessly. Even (1)______ a fast windscreen wiper, the road was (2)____ visible in the dark. Away from the noisy station we had just left, I (3)_____ the empty roads. Indeed, who would be walking (4)____ at such a late hour in the pouring rain? Shekhar was (5)____ steady driver as a rule, but we (6)____ both worried by now and he was already driving (7)______ fast. The road conditions were (8)____ from good. It was a bad ride, but we barely noticed it as we were so (9)______. The only thing I was worried about was finding my daughter, a young, (10)_______ girl alone on the streets at this hour.

Question:

Select the most appropriate option to fill in the blank 9.

Option 1: intense

Option 2: tension

Option 3: tensioned

Option 4: tense

Question : Comprehension:

In the following passage, some words have been deleted. Read the passage carefully and select the most appropriate option to fill in each blank.

Friendship is one of the most significant aspects (1)_____human life. It is a relationship based on mutual trust, respect and support. True friendship is not just about spending time (2)_____, but also about sharing each other's joys, sorrows and dreams. Good friends are those who stand by us in both good times and bad times, providing emotional and moral support. Having good friends can have a positive impact on one's mental health and well-being. Friends can be a source of happiness, laughter and comfort. They can also provide different perspectives and ideas that can help us grow as (3)_____ Moreover, friends can serve as a support system during challenging times, offering words of encouragement and helping us navigate through difficult situations. (4)_____building and maintaining friendships requires effort, patience and understanding. It is important to be there for each other, listen to one another and respect each other's boundaries. It is important to remember that friendships can evolve and change over time, and it is okay to let go of (5)_____friendships.

Select the most appropriate option to fill in the blank number 3.

Option 1: entities

Option 2: individuals

Option 3: groups

Option 4: beings

Question : At the time of dissolution of a firm, Debtors were Rs. 34000 out of which Rs. 1000 became bad and the rest realised 60%. Which account will be debited and by how much amount?

Option 1: Realisation Account by Rs. 19800

Option 2: Profit and Loss Account by Rs 500

Option 3: Cash Account by Rs. 19800

Option 4: Debtors Account by Rs. 19800

Question : In the following question, a sentence has been given in Direct/Indirect speech. Out of the four alternatives suggested, select the one which best express the same sentence in Indirect/Direct speech.

Jack said, "Oh! It's a bad weather. I can't swim."
 

Option 1:  Jack exclaimed with sorrow that it was a bad weather and he can't swim.
 

Option 2:  Jack exclaimed with sorrow that it was a bad weather and he was not to swim.
 

Option 3:  Jack exclaimed with sorrow that it was a bad weather and he couldn't swim.
 

Option 4: Jack exclaims with sorrow that it was a bad weather and he couldn't swim.

Question : Select the most appropriate meaning of the given idiom.
Between a rock and a hard place

Option 1: Stuck between two very bad options

Option 2: Willing to do anything

Option 3: On the point of achievement

Option 4: Avoiding the main topic, not speaking directly about the issue

Question : When some companies, in order to cover up their bad financial position resort to ----------- i.e., showing a better position than the one which really exists. They change their balance sheet in such a way that the important facts and truth may be concealed.

Option 1: Book keeping 

Option 2: Accounting 

Option 3: Accountancy 

Option 4: Window dressing