Accounting MCQ Questions and Solutions with Explanations

Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Section 7 Section 8 Section 9 Section 10 Section 11 Section 12 Section 13 Section 14 Section 15 Section 16 Section 17 Section 18 Section 19 Section 20 Section 21 Section 22 Section 23 Section 24 Section 25

31.
Commercial accounting is based on

A. Single entry book keeping

B. Double entry book keeping

C. Both single and double entry book keeping

D. Cash basis of book keeping

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32.
An asset that is NOT physical in nature is called

A. Intangible asset

B. Liquid asset

C. Current asset

D. Fixed asset

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33.
In which of the following interim dividend is treated?

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

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34.
Which of the following documents contains rules and regulations for internal management of the business?

A. Memorandum of association

B. Articles of association

C. Prospectus

D. Statutory Declaration

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35.
Which of the following is NOT a cash inflow?

A. Sale of fixed asset

B. Issue of debentures

C. Cash from business operation

D. Purchase of fixed asset

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36.
Which of the following is quoted company?

A. Private limited company

B. Public limited company

C. Listed company

D. Non listed company

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37.
Which of the following capital is required for the registration of the company?

A. Issued capital

B. Subscribed capital

C. Authorized capital

D. Reserve capital

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38.
Accounts receivable & inventory are the examples of

A. Current assets

B. Liquid asset

C. Fixed asset

D. Capital asset

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39.
Which of the following account will be credited in the books of XYZ Co. Ltd, if the business purchases a vehicle thriugh cheque?

A. Vehicle account

B. Business account

C. Bank account

D. Debtors account

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40.
In which of the following condition, a company will have positive working capital?

A. If current assets>current liabilities

B. If current assets

C. If current assets = current liabilities

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Accounting MCQ Questions and Solutions with Explanations | Commerce

31. Commercial accounting is based on

Answer & Solution

32. An asset that is NOT physical in nature is called

Answer & Solution

33. In which of the following interim dividend is treated?

Answer & Solution

34. Which of the following documents contains rules and regulations for internal management of the business?

Answer & Solution

35. Which of the following is NOT a cash inflow?

Answer & Solution

36. Which of the following is quoted company?

Answer & Solution

37. Which of the following capital is required for the registration of the company?

Answer & Solution

38. Accounts receivable & inventory are the examples of

Answer & Solution

39. Which of the following account will be credited in the books of XYZ Co. Ltd, if the business purchases a vehicle thriugh cheque?

Answer & Solution

40. In which of the following condition, a company will have positive working capital?

Answer & Solution

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31.
Commercial accounting is based on

32.
An asset that is NOT physical in nature is called

33.
In which of the following interim dividend is treated?

34.
Which of the following documents contains rules and regulations for internal management of the business?

35.
Which of the following is NOT a cash inflow?

36.
Which of the following is quoted company?

37.
Which of the following capital is required for the registration of the company?

38.
Accounts receivable & inventory are the examples of

39.
Which of the following account will be credited in the books of XYZ Co. Ltd, if the business purchases a vehicle thriugh cheque?

40.
In which of the following condition, a company will have positive working capital?