Accounting MCQ Questions and Solutions with Explanations

Home

Competitive Exams

Aptitude English Verbal Reasoning Non Verbal Reasoning General Knowledge(GK) General Science(GS) Data Interpretation(DI) Banking Awareness Current Affairs

Computer & Programming

Computer Fundamentals Networking SQL Database C Programming C++ Programming Java Python

Other Subjects

Commerce Management Law Political Science Psychology Agriculture

Exam Categories

SSC Exams Railway Exams All Exams

SSC Exams

SSC CGL SSC CHSL SSC MTS SSC CPO SSC GD SSC JHT SSC Selection Post SSC Stenographer SSC JE

Railway Exams

RRB ALP RRB Technician RRB Section Controller RRB JE RRB Paramedical RRB Group D

Popular Exams

SSC CGL SSC CHSL SSC MTS RRB NTPC (Graduate) RRB Group D RRB ALP RRB Technician RRB Section Controller

Engineering Subjects

Computer Science Electronics & Communication Mechanical Engineering Civil Engineering Electrical Engineering

More Engineering

Chemical Engineering Automobile Engineering Biotechnology Mining Engineering Geological Engineering

Engineering Core

Engineering Mathematics Engineering Physics Engineering Chemistry Metallurgical Engineering

Computer Fundamentals

Computer Fundamentals Networking Database SQL MySQL

Programming

C Programming C++ Programming Java Python PHP JavaScript

Advanced

Artificial Intelligence Machine Learning Data Science Cloud Computing Hadoop IoT

Graduation & PG

Commerce Management Law Mass Communication Political Science Psychology

Resources

Current Affairs Interview Blog

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-9 section-9

Each section contains 100 MCQs on Accounting .

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
Section 26
Section 27
Section 28
Section 29
Section 30

A partnership firm prepared realisation account at the time of

A) Admission of new partner B) A partner taking leave from the firm C) Dissolution of firm D) At the end of financial year

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

Consider the following activities:
1. Summarising the performance of a business
2. Analysing of the business transactions
3. Interpreting the results
4. Recording the transactions

A) 1234 B) 4213 C) 4321 D) 3142

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

Comparison of the financial statements of the current year with the performance of previous years of the same firm', is known as:

A) Trend Analysis B) Horizontal Analysis C) Intra-firm comparison D) All of the above

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

What will be the difference in the receipt of book debts?

A) Current ratio will increase B) Current ratio will decrease C) There will be no effect on the current ratio D) None of the above

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

Depreciation is caused by

A) price fluctuations B) accident C) use of asset D) none of the above

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

Which of the following statements is true relating to Income and Expenditure Account?

A) It begins with a debit balance B) It is a nominal account C) It is prepared to ascertain financial position of the concern D) It is prepared by all profit making organisations

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

Which one of the following statements is not correct:

A) Net capital employed equals fixed assets B) Low sales in relation to fixed assets mean underutilisation of fixed assets C) Expenses ratios reflect the profit earning capacity of the concern D) The analysis for short term solvency of a company attempts to focus attention on the cash generation power of the company

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

Balance of share forfeiture account is shown in the Balance Sheet under the heading

A) Current Liability & Provisions B) Reserves and Surplus C) Share Capital D) Unsecured Loan

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

Premium paid on the Joint Life Policy of the partners is

A) Credited to the respective partner's capital account B) Debited to the respective partner's capital account C) Credited to profit and loss account D) Debited to profit and loss account

Discuss

Answer & Solution

Answer: Option D

No explanation is given for this question. Let's Discuss on Board

If the value of net-assets employed be Rs. 25,00,000. Average profit for the preceeding three years be Rs. 3,00,000 and the normal rate of return be 10%, the value of Goodwill by capitalization method will be:

A) Rs. 15,00,000 B) Rs. 5,00,000 C) Rs. 22,00,000 D) Rs. 2,50,000

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

1 2 3 4 5 6 7 8 9 10

Accounting MCQ Questions and Solutions with Explanations | Commerce