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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-30

Each section contains 100 MCQs on Accounting .
61
Balance sheet is prepared primarily with the following group in view of . . . . . . . .
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Answer & Solution
Answer: Option A
No explanation is given for this question. Let's Discuss on Board
62
Noting charges are paid in the event of . . . . . . . . of a bill.
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Answer & Solution
Answer: Option C
No explanation is given for this question. Let's Discuss on Board
63
Schedule 16 relates to . . . . . . . .
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Answer & Solution
Answer: Option C
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64
Which of the following is related to nominal account?
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Answer & Solution
Answer: Option B
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65
A limited company has to redeem redeemable preference shares of the value of Rs. 1,00,000 for which the company has issued 3000 equity shares of Rs. 10 each at a premium of 10%. The amount to be transferred to capital redemption reserve account will be:
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Answer & Solution
Answer: Option C
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66
Given that
Opening capital : Rs. 5,000
Closing capital : Rs. 6,000
Drawings : Rs. 1,000
New capital invested : Rs. 500
The profit for the year will be:
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Answer & Solution
Answer: Option B
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67
The amount of surrendered shares is credited to . . . . . . . .
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Answer & Solution
Answer: Option C
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68
A receipts and payments account, the payments are recorded on the . . . . . . . . side.
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Answer & Solution
Answer: Option A
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