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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-24

Each section contains 100 MCQs on Accounting .
91
The ratios which measure the relative contribution of financing by owners and financing provided by outsiders are called:
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Answer & Solution
Answer: Option B
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92
In the absence of any contract, profit arising from partnership firm is credited to the partners capital account in:
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Answer: Option A
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93
Realisation account is prepared by a Partnership firm at the time of
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Answer: Option C
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94
Depreciation represents a decrease in:
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Answer: Option D
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95
Receipt and Payment A/c is an abbreviate form of:
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Answer: Option A
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96
If profit is 50% of sales, then what is its percentage on cost?
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Answer: Option A
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97
Receipts and payments account is prepared by
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Answer: Option B
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98
If a share of Rs. 10, on which an amount of Rs. 6 has been paid, is forfeited. It can be reissued at minimum price of
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Answer: Option C
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99
If the sales and P/V ratio of a firm is Rs. 1000 and 80% respectively and the amount of interest paid is Rs. 400, then operating leverage of the firm is:
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Answer: Option C
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100
Following information is available:
1. 2,000 10% preference shares of Rs. 100 each Rs. 2,00,000
2. 10,000 Equity shares of Rs. 100 each Rs. 60 per share paid up Rs. 6,00,000
3. Expected profit per year before tax Rs. 3,20,000
4. Rate of Tax 50%
5. Transfer to general reserve every year 20% of net profit
6. Normal rate of earnings 15%
The value of equity share as per yield value method would be:
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Answer: Option C
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