Accounting MCQ Questions and Solutions with Explanations

Home

Competitive Exams MCQs

Aptitude English Verbal Reasoning Non Verbal Reasoning General Knowledge(GK) General Science(GS) Data Interpretation(DI) Banking Awareness Current Affairs

Computer Fundatmental MCQs

Computer Fundamentals Microsoft Word Microsoft Excel MS Power Point Tally Operating System Python AI(Artificial Intelligence)

Engineering Subjects MCQs

Computer Science Electronics & Communication Mechanical Engineering Civil Engineering Electrical Engineering

More Engineering MCQs

Chemical Engineering Automobile Engineering Biotechnology Mining Engineering Geological Engineering Metallurgical Engineering

Engineering Core

Engineering Mathematics Engineering Physics Engineering Chemistry

Computer Fundamentals MCQs

Computer Fundamentals Microsoft Word Microsoft Excel MS Power Point Tally Operating System Networking Database SQL MySQL

Programming MCQs

C Programming C++ Programming Java Python PHP JavaScript

Advanced Programming MCQs

Artificial Intelligence Machine Learning Data Science Cloud Computing Hadoop IoT

Graduation & PG

Commerce Management Law Agriculture Sociology Psychology Home Science Mass Communication Political Science Psychology

Resources

Current Affairs Interview Blog

Exam Categories

SSC Exams Railway Exams All Exams

SSC Exams

SSC CGL SSC CHSL SSC MTS SSC CPO SSC GD SSC JHT SSC Selection Post SSC Stenographer SSC JE

Railway Exams

RRB ALP RRB Technician RRB Section Controller RRB JE RRB Paramedical RRB Group D

Popular Exams

SSC CGL SSC CHSL SSC MTS RRB NTPC (Graduate) RRB Group D RRB ALP RRB Technician RRB Section Controller

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-30

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

Receipts and payment account record receipt and payments of . . . . . . . .

A) revenue nature only B) capital nature only C) both revenue and capital nature D) capital receipts

Discuss

Answer & Solution

Answer: Option C

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

Which of the following errors is an error of omission?

A) Sale of Rs. 800 was written in the purchase journal B) Wages paid to Sohan have been debited to his account C) The total of sales journal has not posted to the sales account D) The total of sales journal has posted to the sales account

Discuss

Answer & Solution

Answer: Option C

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

Which of the following is not a long-term borrowing of a company?

A) Debentures B) Term loans C) Loans repayable on demand from banks D) Long-term finance lease obligations

Discuss

Answer & Solution

Answer: Option C

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

A bill of exchange payable after a certain period is known as . . . . . . . . bill.

A) Time B) Accommodation C) Revenue D) Dishonored

Discuss

Answer & Solution

Answer: Option A

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

Preference shareholders are entitled to a fixed rate of . . . . . . . .

A) interest B) dividend C) coupon D) capital

Discuss

Answer & Solution

Answer: Option B

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

In life insurance, the risk insured is

A) certain to occur and also the timing of its occurrence is known B) certain to occur, but its timing of occurrence is not known C) not certain to occur and also the timming of its occurrence is not known D) not likely to occur

Discuss

Answer & Solution

Answer: Option C

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

. . . . . . . . of net surplus of a life insurance company is given to policyholders as bonus.

A) 90% B) 80% C) 95% D) None of these

Discuss

Answer & Solution

Answer: Option C

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

Capital reduction account is used to . . . . . . . .

A) write off losses B) transfer to capital C) issue bonus shares D) None of these

Discuss

Answer & Solution

Answer: Option A

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

Which of the following accounts is increased by credit entries?

A) Bank Overdraft B) Purchases Account C) Goodwill Account D) Sales Returns Account

Discuss

Answer & Solution

Answer: Option A

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

Under . . . . . . . . policy, the sum assured becomes payable on the attainment of a specific age or on death whichever is earlier.

A) whole time life policy B) endowment policy C) with profit policy D) None of these

Discuss

Answer & Solution

Answer: Option B

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

1 2 3 4 5 6 7

Accounting MCQ Questions and Solutions with Explanations | Commerce