Accounting MCQ Questions and Solutions with Explanations | Commerce

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81.
Which one of the following ratios is not a measure of financial soundness and stability of a business enterprise?

A. Liquidity Ratio

B. Current Ratio

C. Proprietary Ratio

D. Sales to Capital Employed Ratio

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82.
Bills dishonoured by = Rs. 2,000
Customers = Rs. 13,000
Bills collected = Rs. 1,000
Bill received endorsed to creditors Rs. 1,000 less than at the beginning.
The Amount of bills received from the customers was:

A. Rs. 12,000

B. Rs. 14,000

C. Rs. 15,000

D. Rs. 17,000

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83.
After the new partnership agreement, assets and liabilities in a balance sheet are recorded at . . . . . . . .

A. original value

B. revalued figure

C. realisable value

D. None of these

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84.
Which one of the following statements is correct?

A. Increases in liabilities are credits and decreases are debits

B. Increases in assets are credits and decreases are debits

C. Increases in capital are debits and decreases are credits

D. Increases in expenses are credits and decreases are debits

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85.
Stock does not include:

A. goods in the hands of an agent

B. goods out on approval (or sale or return)

C. goods sold awaiting delivery to the buyer

D. goods (meant for re-sale) hypothecated as security

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86.
Debit the receiver and credit the giver is rule of:

A. Nominal A/c

B. Personal A/c

C. Salary A/c

D. Rent A/c

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87.
In the absence of an agreement to the contrary, all partners sleeping or working share profits and losses in the

A. capital ratio

B. equal ratio

C. Both A and B

D. None of these

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88.
Which of the following equations is not correct?

A. Cost of the goods sold - Closing Stock - Purchases = Opening Stock

B. Purchases + Opening Stock - Cost of the goods sold = Closing Stock

C. Opening Stock + Purchases - Closing Stock = Cost of the goods

D. Closing Stock + Cost of the goods sold - Purchases = Opening Stock

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89.
Which of the following is not an accounting convention?

A. Convention of full disclosure

B. Convention of conservatism

C. Convention of accrual accounting

D. Convention of consistency

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90.
Share warrants can be issued when shares are

A. fully paid

B. partly paid

C. lost

D. none of the above

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Accounting MCQ Questions and Solutions with Explanations | Commerce

81. Which one of the following ratios is not a measure of financial soundness and stability of a business enterprise?

Answer & Solution

82. Bills dishonoured by = Rs. 2,000 Customers = Rs. 13,000 Bills collected = Rs. 1,000 Bill received endorsed to creditors Rs. 1,000 less than at the beginning. The Amount of bills received from the customers was:

Answer & Solution

83. After the new partnership agreement, assets and liabilities in a balance sheet are recorded at . . . . . . . .

Answer & Solution

84. Which one of the following statements is correct?

Answer & Solution

85. Stock does not include:

Answer & Solution

86. Debit the receiver and credit the giver is rule of:

Answer & Solution

87. In the absence of an agreement to the contrary, all partners sleeping or working share profits and losses in the

Answer & Solution

88. Which of the following equations is not correct?

Answer & Solution

89. Which of the following is not an accounting convention?

Answer & Solution

90. Share warrants can be issued when shares are

Answer & Solution

Read More Section(Accounting)

81.
Which one of the following ratios is not a measure of financial soundness and stability of a business enterprise?

82.
Bills dishonoured by = Rs. 2,000
Customers = Rs. 13,000
Bills collected = Rs. 1,000
Bill received endorsed to creditors Rs. 1,000 less than at the beginning.
The Amount of bills received from the customers was:

83.
After the new partnership agreement, assets and liabilities in a balance sheet are recorded at . . . . . . . .

84.
Which one of the following statements is correct?

85.
Stock does not include:

86.
Debit the receiver and credit the giver is rule of:

87.
In the absence of an agreement to the contrary, all partners sleeping or working share profits and losses in the

88.
Which of the following equations is not correct?

89.
Which of the following is not an accounting convention?

90.
Share warrants can be issued when shares are