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-5 section-19
In which order the following items will be shown on the liabilities side of the Balance Sheet of a Company:
1. Current liabilities and provisions
2. Secured loans
3. Share capital
4. Reserves and surplus
Select the correct answer:
A, Y and Z are partners in the ratio of 5 : 4 : 1. Z is guaranteed that his share of profit will not be less than Rs. 80,000 and any deficiency will be borne by A and Y in the ratio of 3 : 2. If the firm's profit is Rs. 5,60,000, how much deficiencywill be borne by Y?
Arrange the following parties in the event of dissolution of a firm.
1. Secured creditors
2. Unsecured creditors
3. Partners who have granted loans
4. Partners who have contributed over and above profit sharing ratio
Select the correct answer:
Statement I In the traditional accounting, assets are shown at cost, year after year. Statement II The cost in inflation accounting represent the cost that prevails at the time of reporting.
Which of the following is/are correct?
A company has equity capital of Rs. 2,00,000 preference capital of Rs. 1,00,000, 12% debentures of Rs. 1,00,000, long-term loans of Rs. 2,00,000 and short-term loans of Rs. 1,00,000. The capital-gearing ratio will be:
