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-2 section-14
Mr. X a partner in a partnership firm withdraws Rs. 2,000 at the end of each month. Rate of interest is 5%. Interest on drawings at the end of the year will be
X and Y are partners sharing profits and losses in 3 : 1. They admitted Z in the partnership and he bring Rs. 8,000 as his share of goodwill. New profit sharing ratio between X, Y and Z is 2 : 1 : 1, goodwill will be distributed to.
If an equal amount is withdrawn by a partner at the beginning of each month for a period of 6 months, the interest on the total amount will be charged for
The question contains two sentences. One is statement (A) and the other is Reason (R). You have to examine both the sentence carefully and decide whether statement (A) and reason (R) correct and if so, reason is the correct explanation of statement. Mark these items in the answer sheet: Statement (A): Wages paid for installation of new machine is treated as capital expenditure. Reason (R): It is related to giving work to new asset.
Goodwill of a firm of A and B is valued at Rs. 30,000. It is appearing in the books at Rs. 12,000. C is admitted for $${\frac{1}{4}^{{\text{th}}}}$$ share. The amount of goodwill, which he is supposed to bring, will be:
