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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-8 section-9

Each section contains 100 MCQs on Accounting .
71
For amalgamation in the nature of merger, the shareholders holding atleast . . . . . . . . or more of the equity shares of the transferor company becomes the equity shareholders of transferee company.
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Answer & Solution
Answer: Option B
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72
Which of the following factor is not considered while selecting accounting policies?
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Answer & Solution
Answer: Option C
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73
X Ltd, has current ratio of 2 : 1 and Quick ratio of 1.5 : 1. If its current liabilities are Rs. 60,000, then the value of stock would be:
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Answer & Solution
Answer: Option C
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74
The need for showing contingent liability in the balance sheet arises out of the convention of:
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Answer & Solution
Answer: Option C
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75
As per Partnership Act, which of these rights are available to a partner?
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Answer & Solution
Answer: Option D
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76
Unrealized dividend is shown under which of the following head in company balance sheet?
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Answer & Solution
Answer: Option C
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77
The 'going concern concept' is the underlying basis for
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Answer & Solution
Answer: Option A
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78
Liability of a member in case of a private company can be
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Answer & Solution
Answer: Option C
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79
Match the following:
List-I List-II
a. Measurement of income 1. Accrues to the equility of curves
b. Recognition of expense 2. Recognition of revenue
c. Basis of realisation 3. Matching revenue with expenses
d. Identification of revenue 4. Accounting period
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Answer & Solution
Answer: Option B
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80
If net loss is Rs. 5,000, General expenses are Rs. 14,500, Sales amount to Rs. 25,000, the Gross Profit will be:
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Answer & Solution
Answer: Option D
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