Accounting MCQ Questions and Solutions with Explanations | Commerce

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51.
Pre-emptive right is:

A. A right of equity shareholders to get newly issued shares

B. A right of the debenture-holders to get newly issued shares in lieu of debentures

C. A right of the manager to get newly issued shares

D. A right of the employees to get shares of the company

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52.
When a partner retires, the decrease in the values of a liability is credited to:

A. Liability a/c

B. P & L Adjustment a/c

C. Realisation a/c

D. None of the above

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53.
Amount of underwriting commission payable on the issue of debentures is limited to:

A. 2%

B. $$2\frac{1}{2}\% $$

C. 3%

D. 5%

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54.
Stock A/c is a

A. Personal A/c

B. Nominal A/c

C. Real A/c

D. Statement

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55.
Preference share on which a shareholder can claim voting rights due to non-payment of dividend for two years are called

A. Residuary preference shares

B. Convertible preference share

C. Cumulative preference share

D. Non-preference share

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56.
In the case of admission of a new partner, the amount of goodwill brought in by him in the firm is shared by the old partners :

A. In their old profit-sharing ratio

B. In the ratio of their capital

C. In their sacrificing ratio

D. In their new profit-sharing ratio

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57.
Current liability in the following is-

A. Outstanding wages

B. Machine preference share

C. Provision for depreciation on the machine

D. Share profit

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58.
Out of following a new partner could be admitted in a partnership with consent of

A. All existing partners

B. Any of the partner in the firm

C. Majority of partners

D. $$\frac{2}{3}$$ majority of partner

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59.
Which of the following is not recorded in current assets?

A. Debtors

B. Cash

C. Goodwill

D. Business stock

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60.
Goodwill brought in by new partner in cash is called

A. capital

B. loan

C. drawings

D. premium

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Accounting MCQ Questions and Solutions with Explanations | Commerce

51. Pre-emptive right is:

Answer & Solution

52. When a partner retires, the decrease in the values of a liability is credited to:

Answer & Solution

53. Amount of underwriting commission payable on the issue of debentures is limited to:

Answer & Solution

54. Stock A/c is a

Answer & Solution

55. Preference share on which a shareholder can claim voting rights due to non-payment of dividend for two years are called

Answer & Solution

56. In the case of admission of a new partner, the amount of goodwill brought in by him in the firm is shared by the old partners :

Answer & Solution

57. Current liability in the following is-

Answer & Solution

58. Out of following a new partner could be admitted in a partnership with consent of

Answer & Solution

59. Which of the following is not recorded in current assets?

Answer & Solution

60. Goodwill brought in by new partner in cash is called

Answer & Solution

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51.
Pre-emptive right is:

52.
When a partner retires, the decrease in the values of a liability is credited to:

53.
Amount of underwriting commission payable on the issue of debentures is limited to:

54.
Stock A/c is a

55.
Preference share on which a shareholder can claim voting rights due to non-payment of dividend for two years are called

56.
In the case of admission of a new partner, the amount of goodwill brought in by him in the firm is shared by the old partners :

57.
Current liability in the following is-

58.
Out of following a new partner could be admitted in a partnership with consent of

59.
Which of the following is not recorded in current assets?

60.
Goodwill brought in by new partner in cash is called