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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-3 section-10

Each section contains 100 MCQs on Accounting .
21
The dividend per share in a company is Rs. 2, earning per share is Rs. 5 and the market value of shares is Rs. 25. What will be the yield?
Discuss
Answer & Solution
Answer: Option C
Solution:
Dividend yield is calculated as:
Dividend Yield = \(\frac{\text{Dividend per Share}}{\text{Market Value per Share}} \times 100\%\)

Given:
Dividend per share = Rs. 2
Market value per share = Rs. 25

So,
Dividend Yield = \(\frac{2}{25} \times 100 = 8\%\)

Hence, the correct answer is Option C: 8%.
22
X Ltd allotted 25,000 equity shares to the applicants of 36,000 shares for Rs. 10 each on pro-rata basis. A applied for 1800 equity shares. Shares allotted to him are . . . . . . . . and he had paid an application money of Rs. 5 per share . . . . . . . . is the excess amount received that can be utilised towards allotment money.
Discuss
Answer & Solution
Answer: Option B
No explanation is given for this question. Let's Discuss on Board
23
Payment to creditors results in-
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Answer & Solution
Answer: Option D
No explanation is given for this question. Let's Discuss on Board
24
Which of the following is correct if there is mutual indebtedness between the transferor company and the transferee company in a business combination?
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Answer & Solution
Answer: Option A
No explanation is given for this question. Let's Discuss on Board
25
A piece of land was given to a firm free of cost six months back. Its fair value then was Rs. 12 lakhs and now it is worth Rs. 14 Lakhs. Under the conventional accounting system it will be reported in the Balance Sheet as on today at:
Discuss
Answer & Solution
Answer: Option A
No explanation is given for this question. Let's Discuss on Board
26
The current ratio of a firm is 5 : 3. Its working capital is Rs. 20,000. The value of its current assets will be:
Discuss
Answer & Solution
Answer: Option B
No explanation is given for this question. Let's Discuss on Board
27
Unpaid calls is shown in the balance sheet of the company?
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Answer & Solution
Answer: Option B
No explanation is given for this question. Let's Discuss on Board
28
If increase in retained earning = Rs. 6,00,000
Preliminary expense = Rs. 10,000
Provision for taxation = Rs. 60,000
Transfer to General reserve = Rs. 10,000
Net profit before taxation = ??
Discuss
Answer & Solution
Answer: Option D
No explanation is given for this question. Let's Discuss on Board
29
A, B, and C are partners in a firm sharing profit and loss in the ratio of 4 : 3 : 2. They agreed to take D into partnership and gave him $$\frac{1}{8}$$ share. What will be the new profit-sharing ratio?
Discuss
Answer & Solution
Answer: Option B
No explanation is given for this question. Let's Discuss on Board
30
In absence of an agreement. Partner is entitle to receive
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Answer & Solution
Answer: Option A
No explanation is given for this question. Let's Discuss on Board