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-4 section-24
Assertion (A) Accounting information refers to only events which are concerned with business firm. Reason (R) Accounting information is presented in financial statements.
Capital at the beginning of the year Rs. 10,500, Annual drawing Rs. 6,500, Additional capital introduced during the year Rs. 3,500. What will be capital at the end if there is no profit or loss?
X, Y and Z share profit and losses in the ratio of 5 : 3 : 2, Z retires and his share is taken by X and Y in the ratio of 1 : 2. The new profit-loss sharing ratio between X and Y will be:
A company, A Ltd., issued a prospectus inviting applications for 2,000 shares. Applications were received for 3,000 shares, and pro-rata allotments were made on the applications of 2,400 shares. If A was allotted 40 shares, for how many shares he must have applied?
