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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-6 section-14

Each section contains 100 MCQs on Accounting .
51
Which one of the following errors will affect the Trial Balance:
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Answer & Solution
Answer: Option B
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52
Environmental accounting concept is applied on
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Answer: Option D
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53
A, B and C are three equal partners. D is admitted for $${\frac{1}{4}^{{\text{th}}}}$$ share. What is the sacrificing ratio?
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Answer: Option B
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54
Preparation of consolidated Balance Sheet of Holding Company and its subsidiary company is done as per
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Answer: Option B
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55
Which one of the following ratios is the indicator of the long term solvency of a firm?
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Answer: Option B
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56
A Ltd issued a prospectus inviting applications for 2,000 shares. Applications were received for 3,000 shares and pro-rata allotment was made on the applications of 2,400 shares. If A has been allotted 40 shares, how many shares he must have applied for?
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Answer: Option C
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57
Which one of the following will not affect the working capital?
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Answer: Option A
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58
The maximum number of partners in a firm has been specified by
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Answer: Option B
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59
If a firm considers advance received from its clients as its income, then it violates which of the following concepts?
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Answer: Option C
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60
Capital is considered as a business liability according to following concept of
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Answer: Option A
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