Vidyalelo
Commerce · all questions

Accounting
practice.

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

2,968

Questions

55/149

Page

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

Which of the following relates with social Accounting :

Select an option to see the answer and solution.

Dependent branch can make

Select an option to see the answer and solution.

Cash from operations is equal to:

Select an option to see the answer and solution.

The amount of share premium can be used wholly or partly for writing off:

Select an option to see the answer and solution.

Which one of the following transactions will not affect the current ratio:

Select an option to see the answer and solution.

If profit is equal to 25% of cost then sales would be

Select an option to see the answer and solution.

Match List-I with List-II and select your answer:
List-I List-II
a. Surrender Value 1. Stock
b. Insanity of shareholder 2. Insurance policy
c. Share warrant 3. Transmission of shares
d. Fully paid-shares 4. Negotiable instrument

Select an option to see the answer and solution.

The most suitable coverage ratio for deciding the debt capacity of a firm is

Select an option to see the answer and solution.

Profit distributed in the mid of the year will be shown in

Select an option to see the answer and solution.

The company's nationality is decidedby its

Select an option to see the answer and solution.

Those adjustment expenses which are deducted from related expense and are shown as assets are called

Select an option to see the answer and solution.

Financial Leverage is measured by:

Select an option to see the answer and solution.

The salary paid to a clerk Ramesh should be credited to:

Select an option to see the answer and solution.

If the amalgamation is in the . . . . . . . ., the general reserveor profit and loss A/c balance will not be shown in the balance sheet.

Select an option to see the answer and solution.

Owners equity stands for

Select an option to see the answer and solution.

On 31st December 2004, the assets and liabilities of a firm were Rs. 40,000 and Rs. 30,000 respectively. The firm was dissolved and a sum of 60 paisa per rupee was paid to the creditors. Profit/loss on realisation-

Select an option to see the answer and solution.

Identify the true statement of the following.
1. Balance sheet is always prepared from the point of view of the business, but not from, that of the owners.
2. The financial relationship of the business to its owners is shown in the balance sheet.
3. Balance sheet is always related to a period of time.

Select an option to see the answer and solution.

An asset was purchased for Rs. 10,00,000 with the down payment of Rs. 2,00,000 and bills accepted for Rs. 8,00,000. What is the effect on the total asset and total liabilities in the balance sheet?

Select an option to see the answer and solution.

The cost of three small files (of Rs. 4 each) was charged to expenses when purchased even though they had useful life of several years. This was done according to the

Select an option to see the answer and solution.

If goodwill account is already opened in the books and new partner brings his share of goodwill in cash, then accounting effect would be

Select an option to see the answer and solution.