Accountancy questions for CBSE XII

In the absence of a Partnership Deed, interest on advances/loans given by a partner to the firm is payable at the rate of:

Normal Profit earned by a business is calculated as:

Revaluation Account (or Profit and Loss Adjustment Account) is a:

Workmen Compensation Reserve of Rs 50,000 exists when a partner dies. There is a liability of Rs 20,000 against it. The excess Rs 30,000 is:

If a creditor of Rs 25,000 accepts an unrecorded machine of Rs 20,000 in full settlement on dissolution, the journal entry will be:

The maximum discount that a company can allow at the time of reissue of forfeited shares is equal to:

Debentures issued as collateral security for a bank loan means:

Given Current Assets = Rs 4,00,000, Inventories = Rs 1,00,000, Prepaid Expenses = Rs 20,000, Current Liabilities = Rs 2,00,000. Quick Ratio is: