Accounting MCQ Questions and Solutions with Explanations | Commerce

A. Only 1

B. Both 2 and 3

C. All of the above

D. None of the above

A. In trading account

B. In profit and loss account

C. Liability side of balance sheet

D. Asset side of balance sheet

A. Fixed capital account will always have a credit balance

B. Current account can have a positive or negative balance

C. Fluctuating capital account can have a positive or negative balance

D. All of the above

A. Giving bonus shares to members

B. Writing-off preliminary expenses of company

C. Writing-off discount on issue of debenture

D. Distribution of dividend to members

A. $$\frac{{{\text{S}} - {\text{V}}}}{{\text{S}}}$$

B. $$\frac{{{\text{S}} - {\text{V}}}}{{\text{S}}} \times {{\text{F}}_{\text{c}}}$$

C. $$\frac{{{\text{S}} - {\text{V}}}}{{\text{S}}} \times 100$$

D. $$\frac{{{\text{Profit}}}}{{{\text{Sales}}}} \times 100$$

A. Rs. 8

B. Rs. 9

C. Rs. 7

D. Rs. 10

A. Rs. 5,690

B. Rs. 6,270

C. Rs. 6,380

D. Rs. 7,220

A. Direct effect on the consolidated balance sheet

B. No effect on the consolidated balance sheet

C. No effect on net profit

D. None of the above

A. Preliminary expense

B. Capital profit

C. Profit

D. Loss

A. Rent is paid in cash

B. Rent is received

C. Rent is due, but payment has not beent made

D. Rent has been paid in advance