Accounting MCQ Questions and Solutions with Explanations | Commerce
Accounting MCQ Questions and answers with easy and logical explanations. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Accounting MCQ is important for exams like B.COM, M.COM, BBA, BBM, CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other commerce department exam. Page-10 section-23
A manager is paid 5% commission on the net profit after charging such commission. The gross profit of the firm is Rs. 40,000 and the selling expense is Rs. 29,500. His commission will be
The closing stock of a sports club was of cricket bats worth Rs. 1,000. Bats worth 6,000 were used during the year. The opening stock of bats at the beginning was Rs. 800. Which of the following sentence is correct?
Which of the following are the motives of mergers? Indicate the correct answer:
1. Gain the economies of scale.
2. Utilize under-utilized resources.
3. Break the monopoly.
4. Reduce tax liability
Arrange the following in correct sequence in the event of dissolution of a partnership firm.
1. If surplus, it is distributed among the partners.
2. The assets of the firm are realised.
3. Amount realised is applied towards repayment of liabilities to outsiders and loan taken from partners.
4. Capital contributed by partners is repaid.
Select the correct answer:
