121. If cash sales is Rs. 40,000; credit sales Rs. 80,000 and the amount of debtors Rs. 20,000, the average collection period will be (consider 360 days in a year):
122. Recording of decline in the value of patents, copyright and goodwill is called as
123. The portion of uncalled amount of capital that can be called up only on winding up of the company is known as
124. Revenue is generally recognised being earned at the time when:
125. Which of the following items should be posted to Income and Expenditure account of a club?
126. Which of the following is not fixed asset?
127. Upon dissolution, which is the proper order for application of the firm's assets?
1. Payment of partner's loan.
2. In paying, the debts of the firm to third partiy.
3. Distribution of surplus to partners in profit sharing ratio.
4. Payment of partners capital.
Select the correct answer:
1. Payment of partner's loan.
2. In paying, the debts of the firm to third partiy.
3. Distribution of surplus to partners in profit sharing ratio.
4. Payment of partners capital.
Select the correct answer:
128. Amount spent on increasing the seating capacity of a cinema hall is called
129. When the Debt Turnover Ratio is 4, what is the average collection period?
130. Which of the following is not a features of the Hire Purchase System?
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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 5
- 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