Final Account Quizzes & Trivia



Questions: 209  |  Attempts: 34   |  Last updated: Jan 29, 2013
  • Sample Question
    18% investment of Rs. 1,00,000 and interest received on investment Rs. 15,000 have been given in the trial balance for the period ended on 31.3.2006. The amount of interest outstanding in the final accounts will be  

This is a quiz which covers preparing financial statements. It will include questions on the financial statements as well as the accounting adjustments accruals, prepayments and depreciation.

Questions: 17  |  Attempts: 33   |  Last updated: Feb 28, 2013
  • Sample Question
    Which of the following is not an asset?


Questions: 30  |  Attempts: 18   |  Last updated: Feb 18, 2013
  • Sample Question
    A private company sells shares to the public




Final Account Questions and Answers


  • 18% investment of Rs. 1,00,000 and interest received on investment Rs. 15,000 have been given in the trial balance for the period ended on 31.3.2006. The amount of interest outstanding in the final accounts will be  
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  • A building was purchased for Rs.4,00,000 on 1.04.2005. 31st March, 2006, its net realizable value was 5,00,000. The value of building to be shown in the books as on 31st March, 2006 will be  
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  • A building worth Rs. 10,00,000 is insured for Rs. 6,00,000. It is completely destroyed by fire. The loss to be admitted by the insurance company will be  
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  • Which of the following is not an asset?
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  • Which of the following is a liability?
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  • Which of the following is the best meaning of purchases?
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  • A private company sells shares to the public
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  • The shareholders of a public company have control over how it is run.
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  • John purchased shares in Apple Pty Ltd on January 1 2011. Apple pty Ltd then suffered financial difficulties in June 2011 and John was asked to contribute funds to aid the company's survival.  John has already contributed 80% of the face value of his shares.  John could be asked to contribute more money.
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