Accounting MCQ Questions and Solutions with Explanations | Commerce

A. Accounting is commonly treated as language of business

B. There are many views about accounting principles

C. There is no application of conservatism principle in accounting

D. Accounting is based on accounting equation

A. Assets = Liabilities + Capital

B. Capital = Assets - Liabilities

C. Liabilities = Assets - Capital

D. Liabilities = Assets + Capital

A. Repairs on second hand asset purchased to put it into working condition

B. Preliminary expenses

C. Cost of Issuing shares and debentures

D. Legal expenses to defend a suit filed by the competitor

A. Rs. 60,000

B. Rs. 72,000

C. Rs. 80,000

D. Rs. 90,000

A. Profit and Loss a/c

B. Capital Redemption reserve

C. General reserve

D. Dividend equalisation fund

A. Debit side

B. Credit side

C. No Entry is made

D. Written as a note

A. Working capital analysis

B. Stability of the institution

C. Earning power potential of the organization

D. The future position of the organization

A. Sundry Creditors

B. Sundry Debtors

C. Goodwill

D. None of the above

A. Share capital account

B. Share allotment account

C. Share application account

D. Calls in advance account

A. Value added accounting

B. Social accounting

C. Human resource accounting

D. Human resource management