Miscellaneous in Commerce MCQ Questions and Solutions with Explanations | Commerce

A. is a formal financial statement

B. is used to prove that there are no errors in the journal or ledger

C. provides a listing of every account in the chart of accounts

D. provides a listing of the balance of each account in active use

A. In providing for discount on creditors

B. In making provision for bad doubtful debts

C. Providing depreciation

D. None of these

A. No adjustment is required in the books of the transferor company

B. Adjustment is required in the books of the transferor company

C. No adjustment is required in the books of the transferee company

D. None of the above

A. Dual concept

B. Divider concept

C. Entity concept

D. Landlord concept

A. Maldistribution of economic resources

B. Centralisation of economic power

C. Elimination of healthy competition

D. All of the above

A. Personal a/c

B. Impersonal a/c

C. Real a/c

D. Nominal a/c

A. Section 12-A

B. Section 13-A

C. Section 15-A

D. None of these

A. Cash concept

B. Accrual concept

C. Matching concept

D. On-going concept

A. Income tax

B. Railways

C. Post office

D. Banks

A. Debtors account

B. Bad debts account

C. Sales account

D. Creditors account