Accounting MCQ Questions and Solutions with Explanations | Commerce

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31.
Intrinsic value of share can be determined by

A. Fair value method

B. Net asset method

C. Yield method

D. Stock exchange quotation

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32.
In asset turnover ratio we see-

A. How much property is to be sold

B. Relationship between property and net sales

C. Sales value of the property

D. Market value of the property

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33.

Fixed Assets Rs. 14,40,000

Net Worth Rs. 15,00,000

Debt (Long-term) Rs. 9,00,000

Other current assets Rs. 7,60,000

Currents liabilities Rs. 6,00,000

The currnet ratio is

A. 2.4 : 1

B. 2.6 : 1

C. 3.2 : 1

D. 3.5 : 1

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34.
X and Y are partners in a firm sharing profits in the ratios of 2 : 1. Z is admitted with a $${\frac{1}{3}^{{\text{rd}}}}$$ profit sharing. What will be the new profit sharing ratio of X, Y and Z?

A. 3 : 3 : 3

B. 4 : 3 : 2

C. 4 : 2 : 3

D. 2 : 3 : 4

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35.
Which of the following statements is/are correct?

A. The main purpose of any business is to earn profit

B. If expenses exceed revenue then business is running loss

C. Both A and B

D. None of the above

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36.
The items which increases the owner's capital as a result of business transactions are called-

A. Expenses

B. Income

C. Drawing

D. Capital

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37.
According to conservation concept, stock will be valued at

A. Market price

B. Cost price

C. Cost price or market price whichever is less

D. Cost price or market price whichever is more

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38.
Liquidator's statement of receipts and payment is known as

A. cash flow statement

B. cash book

C. liquidator's final statement of account

D. deficiency account

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39.
If,

Sundry Debtors Rs. 15,000

Bill Receivable Rs. 12,500

Cash at Bank Rs. 17,500

Stock Rs. 15,000

Profit Rs. 20,000

Creditors Rs. 25,000

Bill payable Rs. 15,000

Sales Rs. 1,00,000

The Acid Test Ratio is

A. 1.5 : 1

B. 1.125 : 1

C. 2.4 : 2

D. 3 : 1

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40.
If A = purchases, B = Opening stock, C = Closing stock, D = cost of goods sold, then which of the following equation is not correct?

A. A + B - D = C

B. B + A - C = D

C. C + D - A = B

D. D - C - A = B

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1 2 3 4 5 6 7 8 9 10

Fixed Assets	Rs. 14,40,000
Net Worth	Rs. 15,00,000
Debt (Long-term)	Rs. 9,00,000
Other current assets	Rs. 7,60,000
Currents liabilities	Rs. 6,00,000

Sundry Debtors	Rs. 15,000
Bill Receivable	Rs. 12,500
Cash at Bank	Rs. 17,500
Stock	Rs. 15,000
Profit	Rs. 20,000
Creditors	Rs. 25,000
Bill payable	Rs. 15,000
Sales	Rs. 1,00,000

Accounting MCQ Questions and Solutions with Explanations | Commerce

31. Intrinsic value of share can be determined by

Answer & Solution

32. In asset turnover ratio we see-

Answer & Solution

33. Fixed Assets Rs. 14,40,000 Net Worth Rs. 15,00,000 Debt (Long-term) Rs. 9,00,000 Other current assets Rs. 7,60,000 Currents liabilities Rs. 6,00,000 The currnet ratio is

Answer & Solution

34. X and Y are partners in a firm sharing profits in the ratios of 2 : 1. Z is admitted with a $${\frac{1}{3}^{{\text{rd}}}}$$ profit sharing. What will be the new profit sharing ratio of X, Y and Z?

Answer & Solution

35. Which of the following statements is/are correct?

Answer & Solution

36. The items which increases the owner's capital as a result of business transactions are called-

Answer & Solution

37. According to conservation concept, stock will be valued at

Answer & Solution

38. Liquidator's statement of receipts and payment is known as

Answer & Solution

39. If, Sundry Debtors Rs. 15,000 Bill Receivable Rs. 12,500 Cash at Bank Rs. 17,500 Stock Rs. 15,000 Profit Rs. 20,000 Creditors Rs. 25,000 Bill payable Rs. 15,000 Sales Rs. 1,00,000 The Acid Test Ratio is

Answer & Solution

40. If A = purchases, B = Opening stock, C = Closing stock, D = cost of goods sold, then which of the following equation is not correct?

Answer & Solution

Read More Section(Accounting)

31.
Intrinsic value of share can be determined by

32.
In asset turnover ratio we see-

33.

Fixed Assets Rs. 14,40,000

Net Worth Rs. 15,00,000

Debt (Long-term) Rs. 9,00,000

Other current assets Rs. 7,60,000

Currents liabilities Rs. 6,00,000

The currnet ratio is

34.
X and Y are partners in a firm sharing profits in the ratios of 2 : 1. Z is admitted with a $${\frac{1}{3}^{{\text{rd}}}}$$ profit sharing. What will be the new profit sharing ratio of X, Y and Z?

35.
Which of the following statements is/are correct?

36.
The items which increases the owner's capital as a result of business transactions are called-

37.
According to conservation concept, stock will be valued at

38.
Liquidator's statement of receipts and payment is known as

39.
If,

Sundry Debtors Rs. 15,000

Bill Receivable Rs. 12,500

Cash at Bank Rs. 17,500

Stock Rs. 15,000

Profit Rs. 20,000

Creditors Rs. 25,000

Bill payable Rs. 15,000

Sales Rs. 1,00,000

The Acid Test Ratio is

40.
If A = purchases, B = Opening stock, C = Closing stock, D = cost of goods sold, then which of the following equation is not correct?