111. Revenue is generally recognised as being earned at the point of time, when:
112. The cost of a machine having a span of life 5 years is Rs. 10,000. It has a scrap value of Rs. 1,000. The amount of depreciation in the first year under the sum of year's digit method will be:
113. Depreciation on fixed assets is:
OR
Depreciation is:
OR
Depreciation is:
114. . . . . . . . . rule is applicable at the time of any partner becoming insolvent.
115. X and Y are partners in a firm. X is entitled to a salary of Rs. 2,000 per month together with a commission of 10% of net profit before chargin any commission. Y is entitled to a salary of Rs. 5000 per annum together with a commission of 10% of net profit after charging all commissions. Net profit before charging any commission for the year was Rs. 55,000. What will be the net profits to be distributed to X and Y respectively?
116. The quick ratio is 1.5 : 1 and the quick assets is Rs. 30,000. The quick liability will be
117. Current Cost Accounting method attempted to match the current incomeagainst which cost?
118. The adjusted net profit of a business is Rs. 2,00,000 and the amount of capital employed is Rs. 12,50,000. If goodwill is to be calculated on basis of 3 year purchase of super profit and the normal rate of return is 10% then the value of goodwill will be
119. Which type of share hold only one right and that of a fixed rate of dividend
120. A and B were Sharing Profit of a business in the ratio of 3 : 2. They admit C into partnership, who gets $$\frac{1}{3}$$ of the share of profit from A, $$\frac{1}{2}$$ of the share of profit from B. What will be the new profit sharing ratio now:
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Each Section contains maximum 100 MCQs question on Accounting. To get more questions visit other sections.
- Accounting - Section 1
- Accounting - Section 2
- Accounting - Section 3
- Accounting - Section 4
- Accounting - Section 6
- Accounting - Section 7
- Accounting - Section 8
- Accounting - Section 9
- Accounting - Section 10
- Accounting - Section 11
- Accounting - Section 12
- Accounting - Section 13
- Accounting - Section 14
- Accounting - Section 15
- Accounting - Section 16
- Accounting - Section 17
- Accounting - Section 18
- Accounting - Section 19
- Accounting - Section 20
- Accounting - Section 21
- Accounting - Section 22
- Accounting - Section 23
- Accounting - Section 24
- Accounting - Section 25