Miscellaneous in Commerce MCQ Questions and Solutions with Explanations

21.
Transferring the debit and credit item from the journal to the respective accounts is called:

A. Compound journal

B. Ledger

C. Trial balance

D. None of these

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22.
The machinery of a computer and associated equipments is called-

A. C. P. U.

B. Printer

C. Hardware

D. Software

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23.
Fixed assets and current assets are categorized as per concept of:

A. Separate entity

B. Going concern

C. Consistency

D. Time period

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24.
Creating Provision against fluctuation in the price of investment is an example of which accounting convention:

A. Convention of conservatism

B. Convention of full disclosure

C. Convention of materiality

D. Convention of consistency

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25.
Material concept tell about:

A. Disclosure of loss

B. Disclosure of profit

C. Disclosure of all information which are important for investor

D. Disclosure of all information which are important for management

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26.
Which one of the following is not an example of Intangible Assets?

A. Patents

B. Trademarks

C. Copyright

D. Land

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27.
The concept of separate entity is applicable to which of following types of businesses?

A. Sole proprietorship

B. Corporation

C. Partnership

D. All of them

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28.
A company's telephone bill consisting of a Rs. 200 monthly base amount, plus long distance charges, would be classified as a:

A. Variable cost

B. Committed fixed cost

C. Direct cost

D. Semi variable cost

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29.
Rent paid to landlord should be credited to:

A. Landlords account

B. Rent account

C. Cash account

D. Expense account

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30.
A franking machine is used for:

A. Putting stamps on letters

B. Folding letters

C. Filing letters

D. Copying letters

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Miscellaneous in Commerce MCQ Questions and Solutions with Explanations | Commerce

21. Transferring the debit and credit item from the journal to the respective accounts is called:

Answer & Solution

22. The machinery of a computer and associated equipments is called-

Answer & Solution

23. Fixed assets and current assets are categorized as per concept of:

Answer & Solution

24. Creating Provision against fluctuation in the price of investment is an example of which accounting convention:

Answer & Solution

25. Material concept tell about:

Answer & Solution

26. Which one of the following is not an example of Intangible Assets?

Answer & Solution

27. The concept of separate entity is applicable to which of following types of businesses?

Answer & Solution

28. A company's telephone bill consisting of a Rs. 200 monthly base amount, plus long distance charges, would be classified as a:

Answer & Solution

29. Rent paid to landlord should be credited to:

Answer & Solution

30. A franking machine is used for:

Answer & Solution

21.
Transferring the debit and credit item from the journal to the respective accounts is called:

22.
The machinery of a computer and associated equipments is called-

23.
Fixed assets and current assets are categorized as per concept of:

24.
Creating Provision against fluctuation in the price of investment is an example of which accounting convention:

25.
Material concept tell about:

26.
Which one of the following is not an example of Intangible Assets?

27.
The concept of separate entity is applicable to which of following types of businesses?

28.
A company's telephone bill consisting of a Rs. 200 monthly base amount, plus long distance charges, would be classified as a:

29.
Rent paid to landlord should be credited to:

30.
A franking machine is used for: