Commerce · all questions

Accounting
practice.

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

2,968

Questions

97/149

Page

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

Q1921

Accrual system of accounting is also known as

Select an option to see the answer and solution.

Q1922

Match the following

List-I	List-II
a. Ind AS-223	1. Impairment of assets
b. Ind AS-27	2. Borrowing costs
c. Ind AS-36	3. Agriculture
d. Ind AS-41	4. Separate financial statements

Select an option to see the answer and solution.

Q1923

Earned, but yet not received income is treated as

Select an option to see the answer and solution.

Q1924

Secret reserves may not result by:

Select an option to see the answer and solution.

Q1925

If the operating ratio is 91.5 operating profit ratio will be:

Select an option to see the answer and solution.

Q1926

The balance of property at cost has been Rs. 20,000 and Rs. 17,000 in 2015 and 2016, respectively. The profit on the sale of property of Rs. 2,000 is credited to capital reserve account and a new property costing Rs. 5,000 was bought in 2016. Determine the sale proceeds from the property.

Select an option to see the answer and solution.

Q1927

In the balance sheet, the preliminary expense of Rs. 10,000 was reduced to Rs. 500. It will be considered as.

Select an option to see the answer and solution.

Q1928

A partner of a firm becomes insolvent, loss due to it will be shared by other partners:

Select an option to see the answer and solution.

Q1929

Minimum rent is also known as

Select an option to see the answer and solution.

Q1930

Hire-purchase price of a machinery is Rs. 30,000 and its cash price is Rs. 24,000. Payment is to be made in three equal installments. State the interest of second installment.

Select an option to see the answer and solution.

Q1931

Which of these is not an essential feature of a partnership firm?

Select an option to see the answer and solution.

Q1932

As per section 55 of Companies Act 2013, the redemption of preference shares can be made:

Select an option to see the answer and solution.

Q1933

Break-Even Point is

Select an option to see the answer and solution.

Q1934

Firm has earned exceptionally high profits from a contract, which will not be renewed. In such a case, this profit will not be included in . . . . . . . .

Select an option to see the answer and solution.

Q1935

Which of the following is not a subsidiary book?

Select an option to see the answer and solution.

Q1936

Match list-I with list-II and select your answer:

List-I (Assets)	List-II (Method of Depreciation)
a. Patterns	1. Annuity Method
b. Motor Lorries	2. Revalution Method
c. Copy-right	3. Fixed Instalment Method
d. Live Stock	4. Diminishing Balance Method

Select an option to see the answer and solution.

Q1937

A, B and C are partners sharing profits and losses in 5 : 3 : 2. What will be new profit sharing ratio between A and C if B decided to take leave from the firm?

Select an option to see the answer and solution.

Q1938

Which of the following errors cannot be located by the Trial Balance:

Select an option to see the answer and solution.

Q1939

Which of the following statements is true:

Select an option to see the answer and solution.

Q1940

On 31^st March, 1995 the following balances of accounts appeared in the books of a firm Capital Account Rs. 2,00,000 General Reserve Rs. 50,000; Sundry Creditors Rs. 50,000 and Cash in hand Rs. 10,000. The firm is dissolved, and the assets realised Rs. 1,25,000. The loss on realisation is:

Select an option to see the answer and solution.

Prev 95 96 97 98 99 Next