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-9 section-26
Which of the following pairs are correctly matched?
I. Business entity - Accounting standard
II. Stock valuation - Consistency
III. Capital - Drawings
IV. Going concern - Assumption
Select the correct answer using the options given below-
The following information pertains to a cultural club:
Stock of tinned provisions (as on 1st April 1994) : Rs. 25,000
Purchased during the year : Rs. 1,50,000
Stock of tinned provisions (as on 31st March 1995) : Rs. 50,000
Sale of tinned provisions during the year : Rs. 1,50,000
The amounts to be debited and credited respectively to the Income and Expenditure account would be:
