Current liabilities ₹ 40,000; Current assets ₹ 1,00,000; Inventory ₹ 20,000. Quick ratio is
- A1:1
- B2;5;1
- C2:1
- D1:2
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5 Q→051 Marks
6 Q→One sample from each question group in this chapter. Select any group above to see the full set with answer keys.
Select the correct answer using the codes given below:
| List I | List II |
| (i) Current ratio | 1. Liquidity |
| (ii) Net profit ratio | 2. Efficiency |
| (iii) Debt-equity ratio | 3. Long term solvency |
| (iv) Inventory turnover ratio | 4. Profitability |
| Liabilities | ₹ | Asset | ₹ |
| Share capital | 2,00,000 | Land | 50,000 |
| Profit and loss A/c | 1,00,000 | Building | 1,00,000 |
| Reserve and surplus | 1,00,000 | Equipments | 75,000 |
| Creditors | 1,25,000 | Furniture | 75,000 |
| Bills payable | 25,000 | Stock | 2,00,000 |
| 6% Debentures | 50,000 | Debtors | 60,000 |
| Bills receivable | 30,000 | ||
| Cash | 10,000 | ||
| 6,00,000 | 6,00,000 |
| Statement of Profit and Loss | |
| Particulars | Rs. |
| $I$ Revenue from operations | $4,00,000$ |
| $II.$ Other income: | |
| Income from investment | $4,000$ |
| $III.$ Total revenues $(I+II)$ | $4,04,000$ |
| $IV.$ Expenses: | |
| Purchases of stock$-$in$-$trade | $2,10,000$ |
| Changes in inventories | $30,000$ |
| Employee benefits expense | $24,000$ |
| Other expenses $($Administration and selling$)$ | $60,000$ |
| Total expenses | $3,24,000$ |
| $V.$ Profit for year | $80,000$ |
| Particulars | As of $31^{st}$ March $2018\ (₹)$ | As of $31^{st}$ March $2019\ (₹)$ |
| Inventory | $3,60,000$ | $4,40,000$ |
| Trade receivables | $7,40,000$ | $6,60,000$ |
| Trade Payable | $1,90,000$ | $ 2,30,000$ |
| Fixed assets | $6,00,000$ | $8,00,000$ |
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