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-13
A and B have been in partnership sharing profits in the ratio of 7 : 3. C is admitted as a partner. A surrender $$\frac{1}{7}$$ of his share and B surrenders $$\frac{1}{3}$$ of his share in favour of C. The new profit sharing ratio will be-
Ram and Shyam are partners in a firm with capital of Rs. 4,50,000 and Rs. 3,10,000 respectively. They admitted Ganesh as a partner with $${\frac{1}{4}^{{\text{th}}}}$$ share of profit. Ganesh brings Rs. 3,00,000 as his capital. Ganesh's share of goodwill will be
Redeemable preference shares of Rs. 2,00,000 are redeemed at par for which purpose fresh equity shares are issued for Rs. 80,000 at par, The amount be transferred to Capital Redemption Reserve Account would be:
When the sale is expected to occur beyond one year, the entity shall measure the costs to sell at their present value. Any increase in the present value of the costs to sell that arises from the passage oftime shall be presented in
