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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-7 section-11

Each section contains 100 MCQs on Accounting .
61
Cumulative Preference Shareholders can claim unpaid dividend of earlier years as a matter of right only when:
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Answer & Solution
Answer: Option D
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62
Which of the following is the final stage of accounting as a process of information?
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Answer & Solution
Answer: Option B
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63
Which of the following transactions is of capital nature:
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Answer & Solution
Answer: Option A
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64
The final accounts of a manufacturing company generally include the following statements. Select the correct sequence in the which the statements are prepared
i. Balance sheet
ii. Manufacturing account
iii. Profit and loss account
iv. Trading account
v. Profit and loss appropriation account
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Answer & Solution
Answer: Option B
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65
Calculate the BEP in units from the following figures
Sales price Rs. 15/unit
Variable cost Rs. 8/unit
Fixed cost Rs. 14,000
Unit produced 6,000
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Answer & Solution
Answer: Option B
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66
Earning ratio shows the relationship between earning per share and what?
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Answer: Option B
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67
If share of face value of Rs. 10 is sold at Rs. 12 then Rs. 2 will be regarded as
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Answer: Option A
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68
Which of the following has the purpose of taking responsibility?
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Answer: Option C
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69
The profit sharing ratio of ABC is $$\frac{1}{2},\,\frac{2}{5},\,\frac{1}{{10}}.$$   After retirement of A, remaining partner's ratio will be
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Answer: Option A
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70
The directors of company forfeited 1,000 shares of Rs. 10 each, Rs. 7.5 paid-up for non-payment of call money @ Rs. 2.5 per share, 700 of this shares are re-issued @ Rs. 7 per share. The amount transfer to Capital Reserve A/c would be
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Answer: Option B
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