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-25
X started business with a capital of Rs. 20,000 and purchased goods worth Rs. 2,000 on credit. These transactions may be expressed in the from of 'Accounting Equation' such as:
Match List-I (Items of expenditure and receipt) with List-II (Nature of expenditure and receipt) and select the correct answer using the options given below the lists:
List-I
List-II
a. Premium paid for a lease hold property
1. Revenue expenditure
b. Insurance premium paid for risks against accidental losses of properties (fixed assets)
2. Capital receipt
c. Amount realised from the sale of securities (investment)purchased earlier
A particular firm provided the following data for an accounting year
Current ratio = 2.5 : 1
Liquid ratio = 1.5 : 1
Net working capital = Rs. 6,00,000
Current assets and current liabilities of the firm are, respectively:
The cost of a machine having a span of life of 5 years is Rs. 1,00,000. It has a scrap value of Rs. 10,000. The amount of depreciation under the sum of years, digit method will be:
