Deck 4: Accounting and Co-Operative Society

Question 1

If Gross profit is Rs. 27000 and Sales Rs. 90000 then gross profit will be ……..

A)30%
B)25%

Answer 1

30%

Question 2

If Stock is 13500 for 90% then for 100% how much……….

A)15000
B)14000
C)13500
D)15500

Answer 2

15000

Question 3

If stock is for 90----------15300 100 -------------?

A)17000
B)18000
C)29000
D)15500

Answer 3

17000

Question 4

If stock is for 110----------------- 44000 100-------------------?

A)40000
B)50000
C)55000
D)45000

Question 5

If value of Insurance Policy is 21000, Stock on date of Fire is 24000 and Loss of stock is 20000 then Amount of Claim for stock will be ……………

A) 17500
B)18000
C)19000
D)25000

Question 6

If value of Insurance Policy is 31500, Stock on date of Fire is 36000 and Loss of stock is 27000 then Amount of Claim for stock will be ……………

A)23625
B)24625
C)25625
D)23525

Question 7

If value of Insurance Policy is 63000, Stock on date of Fire is 72000 and Loss of stock is 54000 then Amount of Claim for stock will be ……………

A)47250
B)48250
C)26000
D)25000

Question 8

If Sales of last year is Rs. 600000 and sales of corresponding current year is Rs.200000 then Short sales will be ……………

A)400000
B)500000
C)250000
D)256000

Question 9

If Net Profit is Rs. 200000 Insured Standing Charges is Rs. 160000 Sales of The Previous year is Rs. 1800000 Then Gross Profit Rate will be…………

A)20%
B)30%
C)40%
D)45%

Question 10

If Net Profit is Rs. 400000 Insured Standing Charges is Rs. 320000 Sales of The Previous year is Rs. 3600000 Then Gross Profit Rate will be…………

A)20%
B)30%
C)50%
D)65%

Question 11

IF Gross profit rate is 20% and Short Sales is Rs. 400000, then Loss of Profit on Sales will be ………..

A)Rs. 80000
B)Rs. 50000
C)Rs. 85000
D)None of the above

Question 12

IF Gross profit rate is 40% and Short Sales is Rs. 250000, then Loss of Profit on Sales will be ………..

A)Rs. 100000
B)Rs. 50000
C)Rs. 85000
D)None of the above

Question 13

If Sales of last year is Rs. 450000 and sales of corresponding current year is Rs.200000 then Short sales will be ……………

A)250000
B)500000
C)256000

Question 14

A society which as proclaimed as its objective the………….of economic interest of its member

A)Promotion
B)Demotion
C)Recession
D)none of these

Question 15

Maharashtra co-operative Society Act……..

A)1960
B)1949
C)1986
D)1932

Question 16

The word………..Is working together for common purpose.

A)Co-operation
B)co-education
C)Interest
D)enactment

Question 17

The Maharashtra co-operative Society Rules Act ……….

A)1960
B)1961
C)1932
D)1962

Question 18

All sums of…………….received and expended by the Society and the matters in respect of which receipts and expenditure take place.

A)Money
B)Profit
C)Interest
D)Income

Question 19

Managing committee of every Society shall prepare annual statement of accounts within…………… days.

A)42
B)45
C)2 yrs.
D)48

Question 20

Transactions involving receipt in……………..are recorded on receipt side of cash book.

A)Cash
B)Profit
C)Interest
D)loss

Question 21

Rule number 61 of the Maharashtra Co-operative Society Rule 1961- the society has to prepare final statement within……….days.

A)45
B)48
C)21
D)2 yrs

Question 22

Interest paid and payable comes to the……………side of the profit and loss account.

A)Expenditure
B)Receipt
C)Interest
D)income

Question 23

Dividend received on shares is comes to the……………. side of profit and loss account.

A)Income
B)Profit
C)Interest
D)loss

Question 24

The investment on hand at the end of the period are valued at cost price or market whichever is …………

A)Less
B)included
C)Addd
D)excluded

Question 25

…………….is mentioned in the balance sheet as foot note.

A)Contingent liability
B)preliminary expenses
C)debtors
D)closing stock