Accounting MCQ Questions and Solutions with Explanations | Commerce

A. a-2, b-1, c-4, d-3

B. a-1, b-2, c-4, d-3

C. a-1, b-2, c-3, d-4

D. a-2, b-1, c-3, d-4

A. Personal account

B. Nominal account

C. Real account

D. None of the above

A. Cost less depreciation

B. Historical cost

C. Fair market value

D. Realizable value

A. Rs. 220

B. Rs. 200

C. Rs. 240

D. Rs. 244.44

A. during a month

B. during a year

C. during a period

D. at a time

A. Optional

B. Mandatory for Private Ltd. Companies

C. Mandatory for Listed Companies

D. Mandatory for all Companies

A. All partner become insolvent

B. All partners are solvent

C. When some partners are solvent

D. None of the above

A. 'Issued and Subscribed Capital' on the Liabilities side of the Balance Sheet

B. 'Reserve and Surplus' on Liabilities side of the Balance Sheet

C. 'Miscellaneous Expenditure' on Asset side of Balance Sheet

D. 'Profit and Loss Account' on the debit side

A. $$\frac{{{\text{Profit}}}}{{{\text{P/V ratio}}}}$$

B. $$\frac{{{\text{Fixed Cost}}}}{{{\text{Contribution}}}}$$

C. $$\frac{{{\text{Break Even Sales}}}}{{{\text{Sales}}}}$$

D. $$\frac{{{\text{Profit}}}}{{{\text{Sales}}}}$$

A. 4

B. 5

C. 6

D. 8