51. Profit on the sale of furniture in a non profit organisation is to be shown on the:
52. Pooling of interest is a method of
53. Match List-I with List-II and select the correct answer:
List-I
List-II
a. Separate Entity concept
1. Past events
b. Dual Aspect concept
2. Accounting Equations
c. Money Measure concept
3. Business is distinct from its owner
d. Historical concept
4. Translation of events/transaction in money terms
List-I | List-II |
a. Separate Entity concept | 1. Past events |
b. Dual Aspect concept | 2. Accounting Equations |
c. Money Measure concept | 3. Business is distinct from its owner |
d. Historical concept | 4. Translation of events/transaction in money terms |
54. Which one of the following statements is not true?
55. The statement of changes in financial position shows
56. Which of the following statements is not correct?
57. Depreciation takes into account
58. A company shifted its factory after construction of a new building. During this process, Rs. 20,000 was spent on demolishing the old structure and Rs. 2,000 in moving the old stock. How will these expenses be classified?
59. Match the following
List-I
List-II
a. The document from which the returns to suppliers are recorded is known as . . . . . . . .
1. Assets
b. Wages paid on erection of a new machinery should be debited to . . . . . . . .
2. Debit note
c. Prepaid expense is an item of . . . . . . . .
3. Credit note
d. The receiver of goods returned will send a . . . . . . . . to the person, who return the goods.
4. Machinery account
List-I | List-II |
a. The document from which the returns to suppliers are recorded is known as . . . . . . . . | 1. Assets |
b. Wages paid on erection of a new machinery should be debited to . . . . . . . . | 2. Debit note |
c. Prepaid expense is an item of . . . . . . . . | 3. Credit note |
d. The receiver of goods returned will send a . . . . . . . . to the person, who return the goods. | 4. Machinery account |
60. To measure the profitability of a business, among the following which ratio will be used?
i. Acid test ratio
ii. Return on capital employed
iii. Net profit ratio
iv. Interest protection ratio
v. Stock periodic ratio
6. Debt equity ratio
i. Acid test ratio
ii. Return on capital employed
iii. Net profit ratio
iv. Interest protection ratio
v. Stock periodic ratio
6. Debt equity ratio
Read More Section(Accounting)
Each Section contains maximum 100 MCQs question on Accounting. To get more questions visit other sections.
- Accounting - Section 1
- Accounting - Section 2
- Accounting - Section 3
- Accounting - Section 4
- Accounting - Section 6
- Accounting - Section 7
- Accounting - Section 8
- Accounting - Section 9
- Accounting - Section 10
- Accounting - Section 11
- Accounting - Section 12
- Accounting - Section 13
- Accounting - Section 14
- Accounting - Section 15
- Accounting - Section 16
- Accounting - Section 17
- Accounting - Section 18
- Accounting - Section 19
- Accounting - Section 20
- Accounting - Section 21
- Accounting - Section 22
- Accounting - Section 23
- Accounting - Section 24
- Accounting - Section 25