Accounting MCQ Questions and Solutions with Explanations | Commerce

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91.
For allocation of income and expenses, the date of . . . . . . . . is not considered.

A. take over

B. commencement

C. year end

D. all of these

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92.
Subscriptions outstanding from the members of a club are shown on the:

A. Liability side of the Balance Sheet

B. Assets side of the Balance Sheet

C. Debit side of the Income and Expenditure Account

D. Payment side of Receipt and Payment Account

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93.
Preference shares can be reduced out of:

A. Profits available for dividend

B. Proceeds of a fresh issue of shares

C. Both A and B

D. Capital profits

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94.
Which of the following statement is true?

A. Minor cannot be admitted as a partner

B. Minor can be admitted as a partner only into the benefits of the partnership

C. Minor can be admitted as a partner, but his rights and liabilities are the same as the adult partner

D. None of the above

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95.
Which of the following ratios is a Primary Ratio:

A. Current Ratio

B. Return on Investment (ROI)

C. Debt-Equity Ratio

D. Inventory-Turnover Ratio

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96.
Generally, . . . . . . . . method is used for preparation of trial balance

A. Total method

B. Balance method

C. Total and balance method

D. None of the above

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97.
Under which of the following methods the asset is shown at original cost throughout its life:

A. Straight line

B. Diminishing balance

C. Depreciation fund

D. None of these

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98.
Cash flow statement is prepared by-

A. Balance sheet

B. Profit and loss account

C. Additional informations

D. All of these

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99.
When debentures are issued as security against a loan then such as issue of debentures is called:

A. Secured

B. Partly secured

C. Collateral security

D. Bilateral security

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100.
Assets very easily convertible into cash are:

A. Current assets

B. Fixed assets

C. Fictitious assets

D. Liquid assets

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Accounting MCQ Questions and Solutions with Explanations | Commerce

91. For allocation of income and expenses, the date of . . . . . . . . is not considered.

Answer & Solution

92. Subscriptions outstanding from the members of a club are shown on the:

Answer & Solution

93. Preference shares can be reduced out of:

Answer & Solution

94. Which of the following statement is true?

Answer & Solution

95. Which of the following ratios is a Primary Ratio:

Answer & Solution

96. Generally, . . . . . . . . method is used for preparation of trial balance

Answer & Solution

97. Under which of the following methods the asset is shown at original cost throughout its life:

Answer & Solution

98. Cash flow statement is prepared by-

Answer & Solution

99. When debentures are issued as security against a loan then such as issue of debentures is called:

Answer & Solution

100. Assets very easily convertible into cash are:

Answer & Solution

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91.
For allocation of income and expenses, the date of . . . . . . . . is not considered.

92.
Subscriptions outstanding from the members of a club are shown on the:

93.
Preference shares can be reduced out of:

94.
Which of the following statement is true?

95.
Which of the following ratios is a Primary Ratio:

96.
Generally, . . . . . . . . method is used for preparation of trial balance

97.
Under which of the following methods the asset is shown at original cost throughout its life:

98.
Cash flow statement is prepared by-

99.
When debentures are issued as security against a loan then such as issue of debentures is called:

100.
Assets very easily convertible into cash are: