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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-9 section-13

Each section contains 100 MCQs on Accounting .
81
If earning per share of X Co. is Rs. 15 and the price earning ratio of other similar companies is 10, then the market value of shares of X Co. will be:
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Answer: Option B
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82
The original cast of a asset is Rs. 4,15,000 is. The useful life of the asset is 20 year and net residual value of estimated at Rs. 65,000. The amount of depreciation each year will be
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Answer: Option B
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83
Deficiency or surplus account in the liquidation of a company is called
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Answer: Option D
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84
The basis of generally accepted accounting principles are
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Answer: Option A
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85
The bad debts that have been written off, if recovered subsequently then they are credited to
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Answer: Option D
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86
Secret Reserve in a concern be created by the following:
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Answer: Option D
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87
'Provision' under the companies act, 1956 means with holding of profit for the following
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Answer: Option B
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88
If two companies have different accounting policies with respect to the same item, then they make necessary changes to adopt accounting policies.
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Answer: Option A
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89
Everything a firm owns, it also owes out to somebody. This co-incidenceis explained by the . . . . . . . . concept.
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Answer: Option A
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90
In journal transactions are recorded on
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Answer: Option A
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