Accounting MCQ Questions and Solutions with Explanations | Commerce

A. a-1, b-2, c-3, d-4

B. a-3, b-1, c-4, d-2

C. a-4, b-3, c-2, d-1

D. a-1, b-3, c-2, d-4

A. Liability under guarantee

B. Interim dividend

C. Liability in respect of bills discounted

D. None of the above

A. To pay a current liability

B. To borrow money for a short period on an interest bearing promissory note

C. To purchase goods for cash

D. To give an interest bearing promissory note to a creditor in payment of the full amount due to him

A. overstatements of assets

B. understatements of assets

C. understatements of liabilities

D. understatements of provision for bad and doubtful debts

A. Dynamic analysis

B. Average analysis

C. Trend analysis

D. Static analysis

A. Current ratio and debtors turnover ratio

B. Quick ratio and asset turnover ratio

C. Current ratio and net profit ratio

D. Quick ratio and ROI

A. Keeping systematic record

B. Protecting the properties of the Business

C. Maximising the results

D. Meeting legal requirements

A. Rs. 40/40

B. Rs. 120/120

C. Rs. 160/160

D. Rs. 200/200

A. Recording of economic data

B. Provide information base for work

C. Recording and classification of business transaction

D. Achievement of non-economic goals

A. (A) is true, but (R) is false

B. (A) is false, but (R) is true

C. Both (A) and (R) are true

D. Both (A) and (R) are false