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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-5 section-8

Each section contains 100 MCQs on Accounting .
41
The amount spent to increase the earning capacity of a business is:
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Answer & Solution
Answer: Option D
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42
When any partner retires and the remaining partners carry on the business with the firm's property without any final settlements of accounts the outgoing partner is entitled to:
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Answer & Solution
Answer: Option C
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43
Where is the depreciation account appearing in the trial balance is shown?
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Answer & Solution
Answer: Option C
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44
Match the following:
List-I List-II
a. Partnership can be formed for the purpose of carrying . . . . . . . . 1. incoming partner
b. Guaranteed profit is generally given to . . . . . . . . 2. business
c. Every partner is a joint . . . . . . . . of the partnership property. 3. nominal
d. Partners, who do not contribute any capital and have no interest in the business are known as . . . . . . . . partners. 4. owner
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Answer & Solution
Answer: Option A
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45
Capital of Business is:
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Answer & Solution
Answer: Option C
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46
Match List-I and List-II and Select the correct answer:
List-I List-II
a. Loss in business 1. Profit & Loss Adjustment A/c
b. Partner loan 2. Joint Life Policy
c. Death of Partners 3. Debit balance of Profit and Loss A/c
d. Revaluation A/c 4. 6% Interest
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Answer & Solution
Answer: Option A
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47
Responsibility accounting seeks to establish a relationship between planning and controlling by:
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Answer & Solution
Answer: Option B
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48
A public company acquired the following assets and liabilities of a firm : Building Rs. 25,000, Machinery Rs. 15,000 Debtors Rs. 10,000, Stock Rs. 15,000 and Creditors Rs. 8,000. What will be the amount of goodwill or capital reserve if the purchase consideration of the business was Rs. 54,000.
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Answer & Solution
Answer: Option B
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49
Under which type of agreement royalty is paid on the basis of sale?
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Answer & Solution
Answer: Option C
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50
What is the another name of managerial accounting?
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Answer & Solution
Answer: Option C
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