What is the nature of a Limited Liability Partnership (LLP)?
Anonymous Quiz
50%
A separate legal entity from its partners
6%
A branch of a company
9%
A sole proprietorship
35%
A partnership governed by the Partnership Act, 1932
❤2
Which of the following statements is true regarding the application of the Indian Partnership Act, 1932, to an LLP?
Anonymous Quiz
33%
The Indian Partnership Act, 1932, applies fully to an LLP.
25%
The Indian Partnership Act, 1932, does not apply to an LLP.
24%
Only certain sections of the Indian Partnership Act, 1932, apply to an LLP.
18%
The applicability of the Indian Partnership Act, 1932, to an LLP depends on its size.
❖ Class 12th Accounts Top 200 MCQ's Questions for Board Exam 2026 | Class 4
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❖ Class 12th Economics Top 200 MCQ's Question for Board Exam 2026 | Class 4
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🖊 10 questions · ⏱ 30 sec
🖊 10 questions · ⏱ 30 sec
🔥1
Which work by John Maynard Keynes is considered one of the most important works in economics, published in 1936?
Anonymous Quiz
13%
The Wealth of Nations
12%
The Road to Serfdom
71%
The General Theory of Employment, Interest, and Money
3%
The Communist Manifesto
Who is considered the 'father of Economics' for his groundbreaking work in the 18th century?
Anonymous Quiz
31%
John Maynard Keynes
12%
Alfred Marshall
53%
Adam Smith
4%
Karl Marx
❤1
What is the Greek word from which the term 'Economics' is derived, meaning 'household management'?
Anonymous Quiz
4%
Ethniki
47%
Oikonomia
42%
Economica
6%
Anthropos
In his book 'The General Theory of Employment, Interest, and Money,' Keynes advocated for the use of which economic policy tool to stimulate the economy during recessions?
Anonymous Quiz
38%
Monetary policy
38%
Fiscal policy
14%
Supply-side policy
10%
Exchange rate policy
❤1
❖ Class 12th Accounts Top 200 MCQ's Questions for Board Exam 2026 | Class 5
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Macroeconomics is the study of:
Anonymous Quiz
4%
Individual economic behavior
87%
Aggregate economic behavior
7%
Market structures
2%
Economic policy
❖ Class 12th Economics Top 200 MCQ's Question for Board Exam 2026 | Class 5
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What does the term 'macro' in 'macroeconomics' refer to?
Anonymous Quiz
8%
Small-scale economic units
29%
Large-scale industries
8%
Macroeconomic policies
56%
Aggregate of economic variables
What concept is central to understanding the focus of macroeconomics on the economy as a whole?
Anonymous Quiz
9%
Microeconomic equilibrium
10%
Price elasticity
78%
Macroeconomic aggregates
3%
Marginal utility
Who is considered the 'father of macroeconomics'?
Anonymous Quiz
42%
Adam Smith
14%
Karl Marx
15%
Alfred Marshall
29%
John Maynard Keynes
Who coined the term 'macroeconomics'?
Anonymous Quiz
31%
Adam Smith
49%
John Maynard Keynes
12%
Alfred Marshall
7%
Ragnar Frisch
What historical event in the 1930s contributed to the expansion of macroeconomics as a field of study?
Anonymous Quiz
9%
World War I
31%
The Industrial Revolution
47%
The Great Depression
13%
The Rise of Globalization
What is the purpose of the Profit and Loss Appropriation Account in a partnership?
Anonymous Quiz
12%
It is used to calculate the total revenue of the partnership from the sale of its goods.
82%
It is used to distribute profits among partners as per their agreed ratios.
6%
It is used to record all business expenses.
0%
It is used to calculate the taxes owed by the partnership.
How does the Profit and Loss Appropriation Account relate to the Profit and Loss Account in a partnership?
Anonymous Quiz
20%
It is a separate financial statement unrelated to the Profit and Loss Account.
60%
It is an extension of the Profit and Loss Account.
17%
It is used to calculate the net profit in the partnership.
3%
It is a replacement for the Profit and Loss Account.
❤1
If net profit is ₹3,00,000, interest on capital is ₹36,000, and interest on drawings is ₹4,000, what will be net profit as per Profit and Loss Appropriation Account?
Anonymous Quiz
20%
₹3,32,000
17%
₹3,40,000
15%
₹2,60,000
47%
₹2,68,000
If net profit is ₹8,40,000, partner’s salary ₹10,000/month, commission ₹20,000, and interest on drawings ₹8,000, what is the net profit as per Profit and Loss Appropriation Account?
Anonymous Quiz
53%
₹7,08,000
20%
₹6,92,000
20%
₹8,18,000
6%
₹8,02,000