Accounting MCQs with Answers 2027

Q741

The amount spent to increase the earning capacity of a business is:

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Q742

When any partner retires and the remaining partners carry on the business with the firm's property without any final settlements of accounts the outgoing partner is entitled to:

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Q743

Open question

Where is the depreciation account appearing in the trial balance is shown?

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Q744

Open question

Match the following:

List-I	List-II
a. Partnership can be formed for the purpose of carrying . . . . . . . .	1. incoming partner
b. Guaranteed profit is generally given to . . . . . . . .	2. business
c. Every partner is a joint . . . . . . . . of the partnership property.	3. nominal
d. Partners, who do not contribute any capital and have no interest in the business are known as . . . . . . . . partners.	4. owner

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Q745

Open question

Capital of Business is:

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Q746

Open question

Match List-I and List-II and Select the correct answer:

List-I	List-II
a. Loss in business	1. Profit & Loss Adjustment A/c
b. Partner loan	2. Joint Life Policy
c. Death of Partners	3. Debit balance of Profit and Loss A/c
d. Revaluation A/c	4. 6% Interest

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Q747

Open question

Responsibility accounting seeks to establish a relationship between planning and controlling by:

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Q748

Open question

A public company acquired the following assets and liabilities of a firm : Building Rs. 25,000, Machinery Rs. 15,000 Debtors Rs. 10,000, Stock Rs. 15,000 and Creditors Rs. 8,000. What will be the amount of goodwill or capital reserve if the purchase consideration of the business was Rs. 54,000.

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Q749

Open question

Under which type of agreement royalty is paid on the basis of sale?

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Q750

Open question

What is the another name of managerial accounting?

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Q751

Open question

If a partner takes leaves from the firm then his share of goodwill is debited to remaining partners capital account in . . . . . . . . ratio?

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Q752

Open question

After redemption of debentures, the balance of Sinking Fund Account is transferred to

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Q753

Open question

Assessment year starts from:

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Q754

Open question

A company incorporated on 1^st April 2001 took over a running business from 1^st January, 2001 and prpared its final accounts on 31^st December, 2001. Its grows profit was Rs. 24,000 and sales were as under:
January - Twice the average sale
February - Equal to average sale
May to August -

\frac{1}{4}^{th}

of average sale, each month
October and November - 3 times the average sale each month
What is the Gross Profit prior to incorporation:

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Q755

Open question

Match the following:

List-I	List-II
a. A new partner can be admitted with the consent of . . . . . . . . existing partners.	1. current
b. Increase in liability at the time of retirement is debited to . . . . . . . . account.	2. all
c. Buying and selling is . . . . . . . . power of partners.	3. revaluation
d. The . . . . . . . . account of partner may have a debit or credit balance.	4. implied

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Q756

Open question

Which of the following is the base for preparing trial balance?

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Q757

Open question

If a person starts business with Rs. 50,000 cash, goods worth Rs. 50,000 and fixed assets worth Rs. 1,00,000 then his capital would be:

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Q758

Open question

Discount allowed on reissue of forfeited shares is debited to

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Q759

Open question

Income is measured on the basis of

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Q760

Open question

Which of the following techniques for appraisal of investment proposals are based on time value of money?
1. Accounting Rate of Return
2. Internal Rate of Return
3. Profitability Index Method
4. Earnings Per Share

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