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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-4 section-8

Each section contains 100 MCQs on Accounting .
31
Intrinsic value of share can be determined by
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Answer: Option B
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32
In asset turnover ratio we see-
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Answer: Option B
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33
Fixed Assets Rs. 14,40,000
Net Worth Rs. 15,00,000
Debt (Long-term) Rs. 9,00,000
Other current assets Rs. 7,60,000
Currents liabilities Rs. 6,00,000

The currnet ratio is
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Answer: Option B
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34
X and Y are partners in a firm sharing profits in the ratios of 2 : 1. Z is admitted with a $${\frac{1}{3}^{{\text{rd}}}}$$ profit sharing. What will be the new profit sharing ratio of X, Y and Z?
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Answer: Option C
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35
Which of the following statements is/are correct?
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Answer: Option A
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36
The items which increases the owner's capital as a result of business transactions are called-
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Answer: Option B
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37
According to conservation concept, stock will be valued at
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Answer: Option C
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38
Liquidator's statement of receipts and payment is known as
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Answer: Option C
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39
If,
Sundry Debtors Rs. 15,000
Bill Receivable Rs. 12,500
Cash at Bank Rs. 17,500
Stock Rs. 15,000
Profit Rs. 20,000
Creditors Rs. 25,000
Bill payable Rs. 15,000
Sales Rs. 1,00,000
The Acid Test Ratio is
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Answer: Option B
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40
If A = purchases, B = Opening stock, C = Closing stock, D = cost of goods sold, then which of the following equation is not correct?
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Answer: Option D
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