Miscellaneous in Commerce MCQ Questions and Solutions with Explanations

Miscellaneous in Commerce MCQ Questions and Solutions with Explanations | Commerce

Miscellaneous in Commerce 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. Miscellaneous in Commerce 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-10 section-1

The full disclosure principle, as adopted by the accounting profession, is best described by which of the following?

A) All information related to an entity's business and operating objectives is required to be disclosed in the financial statements B) Information about each account balance appearing in the financial statements is to be included in the notes to the financial statements C) Enough information should be disclosed in the financial statements so a person wishing to invest in the stock of the company can make a profitable decision D) Disclosure of any financial facts significant enough to influence the judgment of an informed reade

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Answer: Option D

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NAV and AMC are mainly applicable for . . . . . . . .

A) Mutual Funds B) Stock Exchange C) Cooperative Institutions D) Banks

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Answer: Option A

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'Weeding out' is:

A) Removing inefficient workers B) Framing new rules and regulations C) Determining salaries and wages D) Destroying papers which are no longer required

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Answer: Option D

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Proprietor (owner) is treated as creditor of business due to:

A) Periodicity Concept B) Materiality Principle C) Entity Concept D) Consistency Concept

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Answer: Option C

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. . . . . . . . is a summary of all transactions relating to particular account.

A) Balance sheet B) Trial balance C) Ledger D) Journal

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Answer: Option C

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The Cash account on the balance sheet should not include which of the following items?

A) Travel advances to employees B) Currency C) Money orders D) Deposits in transit

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Answer: Option A

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The current market price of a company's share is Rs. 90 and the expected dividend per share next year is Rs. 4.5. If the dividend is expected to grow at a constant rate of 8%, the shareholder's required rate of return will be

A) 8% B) 5% C) 20% D) 13%

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Answer: Option D

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The combination movement in cotton textile industry of India started in:

A) 1875 B) 1947 C) 1956 D) 1975

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Answer: Option A

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If the total assets of the company amount to Rs. 1,50,000 and owner's equity is Rs. 70,000, the amount of liabilities will be:

A) Rs. 70,000 B) Rs. 80,000 C) Rs. 90,000 D) Rs. 1,00,000

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Answer: Option B

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100

Cash discount allowed to a debtor should be credited to:

A) Discount account B) Customer's account C) Sales account D) Cash account

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Answer: Option B

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