Commerce · all questions

Accounting
practice.

Practice every MCQ with options. Use Show answers when you want the correct option and solution.

2,968

Questions

51/149

Page

Pick an option on a question to see the right answer and solution.

Q1001

If Rs. 3,000 was outstanding at the beginning of the year towards subscription, and Rs. 20,000 is received during the year, with Rs. 5,000 still outstanding at the end of the year, the amount to be taken to Income and Expenditure Account will be:

Select an option to see the answer and solution.

Q1002

At the time of sale of a firm, the purchase consideration received in the form of shares and debentures will be distributed among the partners, in the ratio of:

Select an option to see the answer and solution.

Q1003

If total sales are Rs. 1,00,000 cash sales included in total sales Rs. 20,000, sales back Rs. 7,000. Total debtors for sale as on 31^st March, 1993 Rs. 9,000, and bills receivable as on 31^st March, 1993 is only Rs. 2,000. The average payout period would be for the year 1992 - 93.

Select an option to see the answer and solution.

Q1004

A and B are partners in a firm sharing profit and loss in the ratio of 3 : 2. They admit C into a partnership for

\frac{1}{8}^{th}

share, and the new ratio between A and B is 4 : 3. The sacrificing ratio is

Select an option to see the answer and solution.

Q1005

Given
Net Profit = Rs. 1,50,000
Preference Dividend = Rs. 25,000
Taxes = Rs. 10,000 Equity Capital (Rs. 10 each) = Rs. 10,00,000
What is the Earning Per Share (EPS)?

Select an option to see the answer and solution.

Q1006

BEP is computed by:

Select an option to see the answer and solution.

Q1007

Which of the following assets do not attract depreciation

Select an option to see the answer and solution.

Q1008

Which one of the following is not included in the classification of flow?

Select an option to see the answer and solution.

Q1009

When two or more firm merge then the process is known as

Select an option to see the answer and solution.

Q1010

Goodwill' is what type of asset?

Select an option to see the answer and solution.

Q1011

Which one of the following is capital expenditure?

Select an option to see the answer and solution.

Q1012

Following are the events which generally happen in the life of a public limited company
1. Public issue of shares (IPO)
2. Firm Incorporation
3. Preliminary expenditures
4. Issue of equity shares to promoters of the company
Choose the correct sequence (chronological order) of the envets from the options given below:

Select an option to see the answer and solution.

Q1013

The cost of a machine is Rs. 70,000. Its life span is 10 years, after which its expected residual price will be Rs. 5,000. Based on straight line method, the depreciation for first four year will be

Select an option to see the answer and solution.

Q1014

'Funds' in the fund flow statements means-

Select an option to see the answer and solution.

Q1015

Interest on capital is added with

Select an option to see the answer and solution.

Q1016

X and Y agree to form a partnership. X contributes Rs. 5,000 in assets and devotes one half time to partnership while Y contribution Rs. 20,000 in cash and devotes full time to the firm. How will the partners share the profits of the firm:

Select an option to see the answer and solution.

Q1017

Assertion (A): Accounting information refers to only events concerned with a business firm.
Reason (R): Accounting information is presented in financial statements.

Select an option to see the answer and solution.

Q1018

Goodwill account is

Select an option to see the answer and solution.

Q1019

In liquidation proceedings of a company certain lists are attached with the statement of affairs of the company. Match list-I with list-II and select your answer:

List-I	List-II
a. List E	1. Preference shareholders
b. List F	2. Equity shareholders
c. List G	3. Deficiency account
d. List H	4. Unsecured creditors

Select an option to see the answer and solution.

Q1020

Subscription received in advance by a club will be shown on:

Select an option to see the answer and solution.

Prev 49 50 51 52 53 Next