Accounting MCQ Questions and Solutions with Explanations

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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-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

Fixed cost will be divided to get the break even point selling price in rupees

A) Variable cost per unit B) Datum per unit C) Fixed cost per unit D) Profit volume ratio

Discuss

Answer & Solution

Answer: Option D

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

Match list-I with list-II and select the correct answer:

List-I (Accounting Standards)	List-II (Objects)
a. AS-1	1. Valuation of inventory
b. AS-2	2. Cash Flow Statement
c. AS-3	3. Revenue Recognition
d. AS-4	4. Disclosure of Accounting Policies

A) a-4, b-1, c-2, d-3 B) a-4, b-1, c-3, d-2 C) a-1, b-4, c-3, d-2 D) a-1, b-4, c-2, d-3

Discuss

Answer & Solution

Answer: Option A

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

A company wants to pay dividend on shares. Which of the following should be used for this purpose

A) Premium on share B) Profit on issue of forfeited share C) General reserve D) All of the above

Discuss

Answer & Solution

Answer: Option C

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

Expenses incurred for the installation of plant and machinery will be treated as

A) Revenue expenditure B) Deferred revenue expenditure C) General expenditure D) Capital expenditure

Discuss

Answer & Solution

Answer: Option D

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

For which of the following purpose share premium can be used

A) Writing-off discount on debenture B) Writing-off preliminary expenses of company C) Issue of bonus share D) All of the above

Discuss

Answer & Solution

Answer: Option D

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

Earning Per Share (EPS) is equal to:

A) $$\frac{{{\text{Net Income}}- {\text{Preference Dividend}}}}{{{\text{Number of Equity Shares}}}}$$ B) $$\frac{{{\text{Net Income}}}}{{{\text{Number of Shares}}}}$$ C) $$\frac{{{\text{Total Income}}}}{{{\text{Paid-up Capital}}}}$$ D) $$\frac{{{\text{Net Income}}}}{{{\text{Number of Equity Shares}}}}$$

Discuss

Answer & Solution

Answer: Option A

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

Following are essential elements of a partnership firm except

A) At least two persons B) There is an agreement between all partners C) Equal share of profit and loss D) Partnership agreement is for some business

Discuss

Answer & Solution

Answer: Option C

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

Amongst the following, who is not a partner?

A) Minor partner B) Sleeping partner C) Nominal partner D) Inactive partner

Discuss

Answer & Solution

Answer: Option D

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

Match the items given in List-A with the items given in List-B and check your answer:

List-A	List-B
a. Leasehold asset	1. Depletion
b. Oil wells	2. Amortisation
c. Loose Tools	3. Fluctuation
d. Stock	4. Revaluation

A) a-2, b-1, c-4, d-3 B) a-1, b-2, c-4, d-3 C) a-3, b-1, c-2, d-4 D) a-1, b-4, c-2, d-3

Discuss

Answer & Solution

Answer: Option A

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

Capital employed is equal to

A) Equity B) Long term debt C) Both A and B D) None of the above

Discuss

Answer & Solution

Answer: Option C

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

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Accounting MCQ Questions and Solutions with Explanations | Commerce