Accounting MCQ Questions and Solutions with Explanations | Commerce

A. A right of equity shareholders to get newly issued shares

B. A right of the debenture-holders to get newly issued shares in lieu of debentures

C. A right of the manager to get newly issued shares

D. A right of the employees to get shares of the company

A. Liability a/c

B. P & L Adjustment a/c

C. Realisation a/c

D. None of the above

A. 2%

B. $$2\frac{1}{2}\% $$

C. 3%

D. 5%

A. Personal A/c

B. Nominal A/c

C. Real A/c

D. Statement

A. Residuary preference shares

B. Convertible preference share

C. Cumulative preference share

D. Non-preference share

A. In their old profit-sharing ratio

B. In the ratio of their capital

C. In their sacrificing ratio

D. In their new profit-sharing ratio

A. Outstanding wages

B. Machine preference share

C. Provision for depreciation on the machine

D. Share profit

A. All existing partners

B. Any of the partner in the firm

C. Majority of partners

D. $$\frac{2}{3}$$ majority of partner

A. Debtors

B. Cash

C. Goodwill

D. Business stock

A. capital

B. loan

C. drawings

D. premium