Accounting MCQ Questions and Solutions with Explanations | Commerce

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61.
Profit before tax of the company is Rs. 2,00,000 if the interest period is 5, what will be the amount of interest?

A. Rs. 20,000

B. Rs. 33,333

C. Rs. 40,000

D. Rs. 50,000

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62.
Which of the following is not an accounting software package?

A. Quick Books

B. Sage one

C. Sage M

D. Sage 50

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63.
When drawings are made at the end of each month. Interest on drawings is calculate for

A. 5 months

B. 6 months

C. 5.5 months

D. 6.5 months

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64.
Expenditure, which result increase in the earning capacity of a business is

A. capital expenditure

B. revenue expenditure

C. deferred revenue expenditure

D. All of the above

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65.
Capital redemption reserve is created due to

A. volunta

B. legal requirements

C. Both A and B

D. None of these

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66.
In what proportion the deficiency of insolvent partner's capital is shared by other partners as per decision of Garners Vs. Murray:

A. In profit sharing ratio

B. In capital ratio

C. In pre-distribution capital ratio

D. Gaining ratio

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67.
The statement of assets and liabilities is-

A. Balance sheet

B. Trial balance

C. Trading account

D. Profit and loss account

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68.
Trial balance checks

A. arithmetical accuracy of accounting entries

B. equality of all assets and liabilities

C. all types of errors

D. valuation of closing stock

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69.
While determining the normal rate of return for the valuation of shares in market value method, which of the following should be taken into consideration?

A. The degree of risk involved

B. The current rate of interest on gilt-edged securities

C. Weighted average cost of capital

D. All of the above

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70.
Cash received from debtors Rs. 12,000 and furniture purchased Rs. 7,000 the net effect on fund flow will be

A. Net increase in working captial is Rs. 5,000

B. Net decrease in working captial is Rs. 5,000

C. Net increase in working captial is Rs. 19,000

D. Net decrease in working captial is Rs. 7,000

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Accounting MCQ Questions and Solutions with Explanations | Commerce

61. Profit before tax of the company is Rs. 2,00,000 if the interest period is 5, what will be the amount of interest?

Answer & Solution

62. Which of the following is not an accounting software package?

Answer & Solution

63. When drawings are made at the end of each month. Interest on drawings is calculate for

Answer & Solution

64. Expenditure, which result increase in the earning capacity of a business is

Answer & Solution

65. Capital redemption reserve is created due to

Answer & Solution

66. In what proportion the deficiency of insolvent partner's capital is shared by other partners as per decision of Garners Vs. Murray:

Answer & Solution

67. The statement of assets and liabilities is-

Answer & Solution

68. Trial balance checks

Answer & Solution

69. While determining the normal rate of return for the valuation of shares in market value method, which of the following should be taken into consideration?

Answer & Solution

70. Cash received from debtors Rs. 12,000 and furniture purchased Rs. 7,000 the net effect on fund flow will be

Answer & Solution

Read More Section(Accounting)

61.
Profit before tax of the company is Rs. 2,00,000 if the interest period is 5, what will be the amount of interest?

62.
Which of the following is not an accounting software package?

63.
When drawings are made at the end of each month. Interest on drawings is calculate for

64.
Expenditure, which result increase in the earning capacity of a business is

65.
Capital redemption reserve is created due to

66.
In what proportion the deficiency of insolvent partner's capital is shared by other partners as per decision of Garners Vs. Murray:

67.
The statement of assets and liabilities is-

68.
Trial balance checks

69.
While determining the normal rate of return for the valuation of shares in market value method, which of the following should be taken into consideration?

70.
Cash received from debtors Rs. 12,000 and furniture purchased Rs. 7,000 the net effect on fund flow will be