B:-(i),(iii), (iv) and (v) are correct

C:-(ii), (iii), (iv) and (v) are correct

D:-All are correct

Correct Answer:- Option-C
Question50:-GSTR-10 is used for furnishing

A:-Annual Return

B:-Final return

C:-Monthly return

D:-Quarterly return

Correct Answer:- Option-B

Question51:-lf capital at the end of the year is Rs. 70000, capital introduced during
the year is Rs. 50000, drawings during the year are Rs. 80000 and loss incurred
during the year is Rs. 10000, then capital at the beginning would be equal to

A:-Rs. 80,000

B:-Rs. 90,000

C:-Rs. 1,00,000

D:-Rs. 1,10,000

Correct Answer:- Option-D

Question52:-Which of the following statements/s is/are correct about Accounting
concepts

(i) Accounting concepts are based on Accounting conventions

(ii) Accounting concepts are methods accepted by general agreement

(iii) Personal judgments has no role in the adoption of accounting concepts

A:-Statement (a) and (b) only
B:-Statements (b) and (c) only
C:-Statement (b) only
D:-Statement (c) only

Correct Answer:- Option-D

Question53:-A and B are in partnership sharing profit and losses in the ratio of 3:1.
They have agreed to admit C into partnership firm. C is given 1/4 share of future
profit which he acquires in the ratio of 2:1. The new profit sharing ration would be

A:-3:1:4
B:-7:2:3
C:-4:1:7
D:-4:2:7
Correct Answer:- Option-B

Question54:-A,B and C are sharing profit and losses equally. A dies on 30th
September 2022 and the profit for the year ending 31st march 2023 was Rs. 30000.
calculate A's share of profit