Accounting MCQ Questions and Solutions with Explanations

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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-4 section-10

Each section contains 100 MCQs on Accounting .

Section 1
Section 2
Section 3
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Section 5
Section 6
Section 7
Section 8
Section 9
Section 10
Section 11
Section 12
Section 13
Section 14
Section 15
Section 16
Section 17
Section 18
Section 19
Section 20
Section 21
Section 22
Section 23
Section 24
Section 25
Section 26
Section 27
Section 28
Section 29
Section 30

Profit or loss on revaluation is shared among the partners in . . . . . . . . ratio.

A) old profit sharing B) new profit sharing C) sacrificing D) equal

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

While putting the value and price of the entity in financial records, the lowest prices recorded, not the current price or current market value, is known as

A) Business entity concept B) Money measurement concept C) Conservatism D) Expenditure concept

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

The sales of 10,000 unit is rupees 30,000, variable cost is Rs. 15,000 and fixed cost is Rs. 9,000 security limits will be

A) 4,000 units B) 5,000 units C) 6,000 units D) 8,000 units

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

Fixed cost = Rs. 4,00,000, profit = Rs. 2,00,000 and profit-quantity ratio will 40%, then amount of sales will be

A) Rs. 1,00,000 B) Rs. 12,00,000 C) Rs. 15,00,000 D) Rs. 8,00,000

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

In absence of an agreement, partner

A) Is entitle to receive interest on capital, in case of profit B) Is entitle to receive interest on capital irrespective of profit or loss C) Is entitle to receive interest on capital at the bank rate D) Is not entitle to receive interest on capital

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

Capital structure and leverage decisions come in the ambit of

A) Investment decisions B) distribution decisions C) financing decisions D) dividend decisions

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

The effect of investment by the owner of the business shall be

A) Increase in capital and decrease in liability B) Increase in capital and increase in liability C) Increase in capital and decrease in assets D) Increase in capital and increase in assets

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

Which of the following is the scientific way of main taining accounts?

A) Single entry B) Double entry C) Contra entry D) Book entry

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

If the current stock price is Rs. 50 per share and a new right share is assigned to an investor holding 4 at a contribution price of Rs. 45 per share, what will be value of right?

A) Rs. 2 B) Rs. 4 C) Rs. 6 D) Rs. 1

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

Which of the following is/are the form(s) of environmental accounting?

A) Environmental Management accounting B) Environmental Financial accounting C) Environmental National accounting D) All of the above

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

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Accounting MCQ Questions and Solutions with Explanations | Commerce