Accounting MCQ Questions and Solutions with Explanations

Home

Competitive Exams MCQs

Aptitude English Verbal Reasoning Non Verbal Reasoning General Knowledge(GK) General Science(GS) Data Interpretation(DI) Banking Awareness Current Affairs

Computer Fundatmental MCQs

Computer Fundamentals Microsoft Word Microsoft Excel MS Power Point Tally Operating System Python AI(Artificial Intelligence)

Engineering Subjects MCQs

Computer Science Electronics & Communication Mechanical Engineering Civil Engineering Electrical Engineering

More Engineering MCQs

Chemical Engineering Automobile Engineering Biotechnology Mining Engineering Geological Engineering Metallurgical Engineering

Engineering Core

Engineering Mathematics Engineering Physics Engineering Chemistry

Computer Fundamentals MCQs

Computer Fundamentals Microsoft Word Microsoft Excel MS Power Point Tally Operating System Networking Database SQL MySQL

Programming MCQs

C Programming C++ Programming Java Python PHP JavaScript

Advanced Programming MCQs

Artificial Intelligence Machine Learning Data Science Cloud Computing Hadoop IoT

Graduation & PG

Commerce Management Law Agriculture Sociology Psychology Home Science Mass Communication Political Science Psychology

Resources

Current Affairs Interview Blog

Exam Categories

SSC Exams Railway Exams All Exams

SSC Exams

SSC CGL SSC CHSL SSC MTS SSC CPO SSC GD SSC JHT SSC Selection Post SSC Stenographer SSC JE

Railway Exams

RRB ALP RRB Technician RRB Section Controller RRB JE RRB Paramedical RRB Group D

Popular Exams

SSC CGL SSC CHSL SSC MTS RRB NTPC (Graduate) RRB Group D RRB ALP RRB Technician RRB Section Controller

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-22

Each section contains 100 MCQs on Accounting .

Section 1
Section 2
Section 3
Section 4
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

If immediate payment is not made to a partner taking leave from the firm then the due amount is transferred to

A) Current account B) Loan account C) Reserve account D) None of the above

Discuss

Answer & Solution

Answer: Option B

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

The money received by owner in business is known as-

A) Capital B) Goods C) Assets D) Building

Discuss

Answer & Solution

Answer: Option A

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

Contra entries in cashbook are made when

A) Petty Cashbook is maintained B) Simple Cashbook is prepared C) Triple Column Cashbook is maintained D) All of the above

Discuss

Answer & Solution

Answer: Option C

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

An item is considered material if it

A) relates to real account B) relates to raw material C) is significant for the users D) all of the above

Discuss

Answer & Solution

Answer: Option C

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

The asset account is debited from the original value of the asset in the books of buyer and . . . . . . . . account is debited with the total amount of interest

A) Interest account B) Interest suspense account C) Seller account D) All of the above

Discuss

Answer & Solution

Answer: Option B

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

Which of the following is correct equation?

A) Assets = Capital B) Assets = Liabilities - Capital C) Assets = Liabilities + Capital D) None of the above

Discuss

Answer & Solution

Answer: Option C

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

Purchase Book is used to record

A) All purchases of goods B) All purchases C) All credit purchases of goods D) None of the above

Discuss

Answer & Solution

Answer: Option C

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

Managerial accounting is

A) Making accounts B) Management of accounts C) Presentation of accounting information D) Classification of accounts

Discuss

Answer & Solution

Answer: Option C

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

Money embezzled by an employee of a trader is:

A) Capital Expenditure B) Revenue Expenditure C) Capital Expenses D) Revenue Loss

Discuss

Answer & Solution

Answer: Option D

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

When a company is not earning profits, then which of the following securities proves a burden on the finances of the company?

A) Equity Shares B) Preference Shares C) Redeemable Preference Shares D) Debentures

Discuss

Answer & Solution

Answer: Option D

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

1 2 3 4 5 6 7 8 9 10

Accounting MCQ Questions and Solutions with Explanations | Commerce