Tamil Nadu (English Medium) Plus 2 Commerce Study Materials, Online Learning, Question Papers, Classnotes, Practice Test, MCQ | Smartindia Educational Program : www.smartindia.net.in

Question-1 Those assets which are easily convertible into cash is known as

(A) Fixed assets	(B)Current Assets
(C)Floating Assets	(D)None of these

Question-2 Share holders funds includes

(A) Equity share capita, Preference share capital, Reserve & Surplus	(B)Loans from banks and financial institutions
(C)Equity share capital, Preference share capital, Reserves & surplus and Loans from banks and financial institutions	(D)None of these

Question-3
Total sales is Rs 3,40,000 and the gross profit made is Rs 1,40,000. The cost of goods sold will be

(A) Rs 2,00,000	(B) Rs 4,80,000
(C) Rs 3,40,000	(D) Rs 3,20,000

Question-4
Gross profit ratio establishes the relationship between

(A) Gross profit & Total Sales	(B) Gross profit & Credit sales
(C) Gross profit & cash sales	(D) Gross profit & purchases

Question-5
Gross profit can be ascertained by deducting cost of goods sold from

(A) Purchases	(B) Opening stock
(C) Sales	(D) Closing stock

Question-6 Which of the following option is correct.

(A) Tangible Assets = Land + Building + Furniture	(B)Tangible Assets = Land +Building + Goodwill
(C)Tangible Assets = Land + Furniture + Goodwill + copy right	(D)Tangible Assets = Land + Goodwill

Question-7 Liquid ratio is used to assess the firm's ____ liability.

(A) Long term	(B)Short term
(C)Medium term	(D)None of these

Question-8 All profitability ratios are expressed in terms of

(A) Proportion	(B)Times
(C)Percentage	(D)Equation

Question-9 Current assets of a business concern is Rs 60,000 and current liabilities are Rs 30,000. Current ratio will be

(A) 1 : 2	(B)1 : 1
(C)2 : 1	(D)3 : 1

Question-10
Stock turnover ratio is otherwise called as

(A) Inventory turnover ratio	(B) Gross Profit ratio
(C) Liquidity ratio	(D) Operating ratio

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Plus 2 Commerce

Tamil Nadu (English Medium)

Practice in Related Chapters
Financial Accounts- Adjustments
Partnership Accounts-Retirement
Accounts From Incomplete Records(Single Entry)
Cash Budget
Depreciation Accounting
Financial Statement Analysis - Ratio Analysis
Partnership Accounts - Basic Concepts
Partnership Addmission
Company Accounts