Accounting MCQ Questions and Solutions with Explanations | Commerce

A. Current asset

B. Current liability

C. Fixed asset

D. Fixed liability

A. Revenue account

B. Pure revenue account

C. Capital account

D. Cash account

A. Rs. 54,000

B. Rs. 60,000

C. Rs. 1,08,000

D. Rs. 1,62,000

A. Assets side of Balance sheet

B. Liabilities side of Balance sheet

C. Debit side of Profit & Loss A/c

D. Credit side of Profit & Loss A/c

A. Ordinary shares

B. Cumulative preference shares

C. Non-cumulative preference shares

D. Redeemable preference shares

A. Reserve Capital

B. Capital Reserve

C. Uncalled Capital

D. Subscribed Capital

A. 1, 2 and 4

B. Both 3 and 5

C. 2, 3 and 5

D. All of the above

A. Secured Mortgage Deed ⇔ Debentures

B. Rights shares ⇔ Issued to new shareholders

C. Convertible ⇔ Debentures

D. Redeemable ⇔ Preference shares

A. $$\frac{{{\text{Capital employed}}}}{{{\text{Net worth}}}}$$

B. $$\frac{{{\text{Contribution}}}}{{{\text{Sales Volume}}}}$$

C. $$\frac{{{\text{Operating Profit}}}}{{{\text{Contribution}}}}$$

D. $$\frac{{{\text{Contribution}}}}{{{\text{Sales BEP}}}}$$

A. Selling Price - Variable Cost

B. $$\frac{{{\text{Installment Outstanding}}}}{{{\text{Selling Price}}}} \times {\text{Cash Price}}$$

C. $$\frac{{{\text{Rate of Interest}}}}{{100}}{\text{ + Rate of Interest}}$$

D. Actual Average Profit - Normal Profit