Accounting MCQ Questions and Solutions with Explanations | Commerce

A. Environment

B. Community

C. Energy

D. All of the above

A. Only cash sales

B. Only credit sales

C. Both cash and credit sales

D. None of the above

A. Net profit + increase in current assets

B. Net profit + decrease in current liabilities

C. Profit from operation ± Adjustment of increase and decrease in current assets and liabilities

D. Fund from operation ± Adjustment of increase and decrease in current assets and current liabilities

A. goodwill

B. preliminary expenses

C. deferred revenue expenses

D. all of the above

A. Credit purchase of goods

B. Cash sale of an old motor car

C. Issue of equity shares in lieu of some machinery

D. Cash purchase of a machine

A. 10%

B. 20%

C. 25%

D. $$33\frac{1}{3}\% $$