Accounting MCQ Questions and Solutions with Explanations | Commerce

You wish to invest a large of money in a company for a long-term. which of the following ratios will be most appropriate for you to reach a decision:

The cost of right shares is

Sales + Closing stock - Purchases - Gross Profit =

Under which of the following Sections of the Company's Act, 1956 a company can use share premium for certain purposes?

Which of the following is not correctly matched in the term of Loss/income and Nature?

If for the redemption of preference share capital of Rs. 1,00,000, 5,000 equity shares of Rs. 10 each are issued at a discount of 10% the amount to be transferred to Capital Redemption Reserve Fund will be:

Preliminary expenses of a company should be shown in the final accounts on

The directors of Murfi Ltd made a final call of Rs. 50 per share on 1^st August, indicating the last date of payment of call money to be 31^st August. Mr. Akshit holding 5,000 shares paid the call money on 15^th October, if the company adopts Table A, the amount of interest on calls-in-arrears to be paid

The Accounting Standards Board of India does not perform the following function:

An entity issues shares as consideration for the purchase of inventory. The shares were issued on 1^st January, 2017. The inventory is eventually sold on 31^st December, 2018. The value of the inventory on 1^st January, 2017, was Rs. 8,00,000. This value was unchanged upto the date of sale. The sale proceed was Rs. 12,00,000. The shares issued have a market value of Rs. 9,00,000. Which of the following statement correctly describes the accounting treatment of this share based payment transaction?