ExamVeda
Login
Home

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-8 section-29

Each section contains 100 MCQs on Accounting .
71
Concept of Realisation implies:
Discuss
Answer & Solution
Answer: Option B
No explanation is given for this question. Let's Discuss on Board
72
Balance sheet is a:
Discuss
Answer & Solution
Answer: Option A
No explanation is given for this question. Let's Discuss on Board
73
An entry of Rs. 500 was wrongly posted to wages account instead of machinery account, as wages are to be capitalised. It is an error of:
Discuss
Answer & Solution
Answer: Option C
No explanation is given for this question. Let's Discuss on Board
74
To test the liquidity of a concern, which of the following ratios are useful?
I. Acid test ratio
II. Capital turnover ratio
III. Bad debts to sales ratio
IV. Inventory turnover ratio
Select the correct answer using the options given below:
Discuss
Answer & Solution
Answer: Option B
No explanation is given for this question. Let's Discuss on Board
75
Preference shareholders are . . . . . . . . of the company:
Discuss
Answer & Solution
Answer: Option B
No explanation is given for this question. Let's Discuss on Board
76
From the following find out the correct equation:
I. A represents opening stock
II. B represents purchases
III. C represents closing stock
IV. D represents cost of goods sold
Discuss
Answer & Solution
Answer: Option A
No explanation is given for this question. Let's Discuss on Board
77
Match List-I with List-II and select the correct answer using the options given below the lists:
List-I List-II
a. Income measurement 1. Accrues to owner's equity
b. Expense recognition 2. Revenue recognition
c. Basis for realisation in accounting 3. Matching revenues
d. Recognised revenue 4. Accounting period
Discuss
Answer & Solution
Answer: Option A
No explanation is given for this question. Let's Discuss on Board
78
Sales of old material must be shown on the credit side of . . . . . . . .
Discuss
Answer & Solution
Answer: Option B
No explanation is given for this question. Let's Discuss on Board
79
In triple column cash book, cash withdrawn from bank for office use will appear in:
Discuss
Answer & Solution
Answer: Option B
No explanation is given for this question. Let's Discuss on Board
80
The process of transferring the credit and debit items form a journal to their respective accounts in the ledger is termed as . . . . . . . .
Discuss
Answer & Solution
Answer: Option D
No explanation is given for this question. Let's Discuss on Board