Accounting MCQ Questions and Solutions with Explanations | Commerce

A. Single entry book keeping

B. Double entry book keeping

C. Both single and double entry book keeping

D. Cash basis of book keeping

A. Intangible asset

B. Liquid asset

C. Current asset

D. Fixed asset

A. In profit and loss account

B. In profit and loss appropriation account

C. On the asset side of the Balance sheet

D. In trading account

A. Memorandum of association

B. Articles of association

C. Prospectus

D. Statutory Declaration

A. Sale of fixed asset

B. Issue of debentures

C. Cash from business operation

D. Purchase of fixed asset

A. Private limited company

B. Public limited company

C. Listed company

D. Non listed company

A. Issued capital

B. Subscribed capital

C. Authorized capital

D. Reserve capital

A. Current assets

B. Liquid asset

C. Fixed asset

D. Capital asset

A. Vehicle account

B. Business account

C. Bank account

D. Debtors account

A. If current assets>current liabilities

B. If current assets

C. If current assets = current liabilities

D. None of the above