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-9
What is the correct sequence of the following actions required for the preparation of final accounts?
1. Preparation of Trial Balance
2. Balance of accounts
3. Preparation of annual financial statements
4. Making adjustment entries
Select the correct answer
The value of plant and machinery as on 1st January, 2005 was Rs. 80,000/- and its value as on 31th December 2005 was Rs. 1,20,000/-. During the year Rs. 10,000/ was written off as depreciation. This will result in
A company issued 1,00,000 equity shares of the face value of Rs. 100 each at Rs. 100 per share. So far Rs. 75 per share has been called up including Rs. 25 on allotment and Rs. 25 on first call. X to whom 200 shares were issued failed to pay the first call. His shares were forfeited and re-issued to Y at Rs. 70 per share as fully paid-up. The amount to be transferred to Capital Reserve a/c would be:
