Accounting MCQ Questions and Solutions with Explanations | Commerce

Those preference shares which do not carry the right of share in excess profits are known as . . . . . . . . preference shares.

. . . . . . . . is given to promote sales.

Accounting does not record non-financial transactions because of:

Which of the following are applicable to sinking fund method of depreciation?
I. Periodic depreciation is smaller than the assets, actual annual depreciable cost
II. Amount of interest constantly declines due to assets, reducing balances
III. Annual net incidence on profit and loss account remains constant due to incorporation of only fixed depreciation
IV. Periodic depreciation is recorded through the assets account
Select the correect answer using the options given below:

Dividend is paid on . . . . . . . . capital.

Which of the following are current assets?

Accounting principles are generally based on:

In stock valuation, appilcation of the principle 'at cost price or market price whichever is lower' will result in the valuation of stock sometimes at cost price and at other times at market price. This is an application of the principle of:

The purpose of depreciation is to:

Under purchase method of amalgamation, . . . . . . . . of the transferor company continues to appear in the balance sheet of the transferee company.