Accounting MCQs with Answers 2027

Q1881

A private company does not:

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Q1882

A and B are partners sharing profit and losses in 5 : 3. They decided to admit C and provide him

\frac{3}{10}^{th}

share in profits. what will be new profit sharing ratio between A, B and C?

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Q1883

Open question

In case of insolvency of a partner, any balance in Reserve Fund or Profit and Loss A/c is distributed in all partners

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Q1884

Open question

Inventory of a manufacturing enterprise includes:

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Q1885

Open question

Cost, salvage and useful life of an asset are Rs. 10,000, Rs. 1,000 and 3 years respectively. The amount of depreciation as per sum of the years digit method for the first year will be

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Q1886

Open question

Excess of cost of investment over paid-up value of the shares is considered as

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Q1887

Open question

Loss caused by theft of cash by cashier during business hours is a loss of

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Q1888

Open question

A company cannot redeem its debentures

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Q1889

Open question

Statement I If the going concern concept is no longer valid, then all prepaid assets would be completely written-off immediately.
Statement II Also land held as an investment would be valued at its realisable value.

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Q1890

Open question

Match the following:

List-I	List-II
a. At the beginning of each month	1. 5 and ¹/₂ month
b. At the end of each month quarter	2. 6 and ¹/₂ month
c. At the beginning of each quarter	3. 4 and ¹/₂ month
d. At the end of each	4. 7 and ¹/₂ month

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Q1891

Open question

A and B are partners sharing profit in the ratio of 2 : 3. They admit C for

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

share in the business. The sacrificing ratio of A and B is

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Q1892

Open question

The conversion of capital expenditure into revenue expenditure leads to which of the following result?

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Q1893

Open question

In which method of calculating depreciation, interest on the cost of the asset is taken into consideration:

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Q1894

Open question

In which of the following cases Garner vs Murray rule is not applicable?

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Q1895

Open question

As per AS-2 valuation of inventories, inventories are assets
1. held for sale in the ordinary course of business.
2. held for sale in the special course of business.
3. in the process of production for such sale.
4. in the form of materials or supplies to be consumed in the production processor or in the rendering of services.
5. in the process of services for such sale.
Select the correct answer:

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Q1896

Open question

Consider the following statements:
Assertion (A): Rights shares are given to equity shareholders in proportion to their share capital in the company.
Reason (R): Equity shareholders assume the greatest risk in company finance.
Now select your answer:

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Q1897

Open question

Which of the following is shown in Balance sheet?

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Q1898

Open question

X Ltd forfeited 40 shares of Rs. 10 each and on which Rs. 4 per share were paid. If the forfeited shares are reissued as Rs. 8 per share paid-up. What is the minimum price the company must charge?

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Q1899

Open question

Consider the particulars given below:
Sales = Rs. 60,000
Variable cost = Rs. 25,000
Fixed cost = Rs. 30,000
Based on these data, the operating leverage shall be:

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Q1900

Open question

Under pooling interest method, the difference between the purchase consideration and share capital of the transferee company should be adjusted to

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