Commerce · all questions

Accounting
practice.

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

2,968

Questions

74/149

Page

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

Q1461

Funds will be considered inflow in the followiong situation if

Select an option to see the answer and solution.

Q1462

A and B are partner in a partnership firm sharing profit and losses in 3 : 1. C is admitted for

\frac{1}{3}^{rd}

share. New profit sharing ratio between A, B and C is

Select an option to see the answer and solution.

Q1463

The most popular system of accounting used in public utility concerns is:

Select an option to see the answer and solution.

Q1464

The term 'Amortisation' is generally used to indicate the fall in value of the following:

Select an option to see the answer and solution.

Q1465

In financial accounting, ledger posting is a process of:

Select an option to see the answer and solution.

Q1466

X, Y and Z are partners sharing profit and loss equally. Their capital balances on 31^th March 2012 are Rs. 80,000, Rs. 60,000 and Rs. 40,000, respectively. Their personal assets are worth as follows: X - Rs. 20,000, Y - Rs. 15,000 and Z - Rs. 10,000. The extent of their liability in the firm would be

Select an option to see the answer and solution.

Q1467

When a company whatever amount is demanded after allotment is known as:

Select an option to see the answer and solution.

Q1468

Match the following:

List-I	List-II
a. New share (Admission)	1. Old share + Gaining share
b. Gaining ratio	2. Old ratio - New ratio
c. Sacrificing ratio	3. New ratio - Old ratio
d. New share (Retirement)	4. Old share - Sacrifice share

Select an option to see the answer and solution.

Q1469

Which of the following equation is not correct?

Select an option to see the answer and solution.

Q1470

If the gross loss is

\frac{1}{4}

of the sales and the cost of goods sold is Rs. 3,60,000 the sales will be

Select an option to see the answer and solution.

Q1471

Which of the following statements is not correct?

Select an option to see the answer and solution.

Q1472

When capitals of partners are fluctuating, then in the case of dissolution of the firm, the deficiency of the insolvent partner's capital is borne by the solvent partners according to Garner Vs. Murrary decision:

Select an option to see the answer and solution.

Q1473

Return on investment is the ratio between:

Select an option to see the answer and solution.

Q1474

On the basis of the following information, what will be the EBIT corresponding to financial indifference point?
Total capital outlay Rs. 60,00,000
Financing Plans
1. 100% Equity @ Rs. 10/- per share
2. Debt - equity ratio 2 : 1
Rate of interest 18% p.a., corporate tax rate 40%

Select an option to see the answer and solution.

Q1475

Which of the following is not a movable property?

Select an option to see the answer and solution.

Q1476

If accounting information is based on facts and it is verifiable by documents, it has the quality of

Select an option to see the answer and solution.

Q1477

Sweat Equity Shares can be issued by a

Select an option to see the answer and solution.

Q1478

Patent rights account is:

Select an option to see the answer and solution.

Q1479

Which of the following statement is correct?

Select an option to see the answer and solution.

Q1480

Read the following statements and mark your answer:
i. Return on Investment (R.O.I.) is calculated as part of final accounts preparation exercise
ii. Inventory valuation is a must for ascertaining profit by preparation of Trading Account
iii. Operational audit is a statutory requirement for a company auditor
iv. Garner Vs. Murray case relates to settlement of accounts on insolvency of a partner of the firm

Select an option to see the answer and solution.

Prev 72 73 74 75 76 Next