Accounting MCQs
Practice free Accounting multiple-choice questions with instant answer feedback and step-by-step solutions. Click an option to check yourself, reveal the full explanation, and work through all 3354 questions — no login required.
Question 3106easy
Paid-up current ratio = 2.8
Acid test ratio = 1.5
Working capital = Rs. 1,62,000
What will be liquid asset?
Acid test ratio = 1.5
Working capital = Rs. 1,62,000
What will be liquid asset?
Question 3107hard
Fixed cost Rs. 12,00,000 (including depreciation Rs. 80,000);
Selling price per units Rs. 1,200;
Variable cost per unit Rs. 900;
Loan Installment Rs. 2,00,000.
Cash Break Even Point will be
Selling price per units Rs. 1,200;
Variable cost per unit Rs. 900;
Loan Installment Rs. 2,00,000.
Cash Break Even Point will be
Question 3108hard
Assertion (A) Human resource accounting is the measurement of the cost and value of people to the organisation.
Reason (R) Human resource accounting involves measuring costs incurred by the, organisations to recruit, select, hire, train and develop employees and judge their economic value to the organisation.
Reason (R) Human resource accounting involves measuring costs incurred by the, organisations to recruit, select, hire, train and develop employees and judge their economic value to the organisation.
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Question 3109hard
Given that,
Inventory turnover ratio = Rs. 6 Time
Average inventory = Rs. 8,000
Selling price = Rs. 25% More then the cost.
What will be the amount of gross profit?
Inventory turnover ratio = Rs. 6 Time
Average inventory = Rs. 8,000
Selling price = Rs. 25% More then the cost.
What will be the amount of gross profit?
Question 3110hard
Match the items of a company given in List-A with the classification given in List-B and check your answer:
| List-A | List-B |
| a. Preliminary Expenses | 1. Miscellanneous Expenditure |
| b. Unclaimed Dividend | 2. Loans and Advances |
| c. Bills receivable | 3. Current liability |
| d. Live Stock | 4. Fixed assets |
Question 3111hard
Insufficient working capital may result into which combination of the following?
i. Failures to adapt to changes.
ii. Enhancement in credit-worthiness of the firm.
iii. Reduced availability of trade and cash discounts.
iv. Reduced volume of sales.
ii. Enhancement in credit-worthiness of the firm.
iii. Reduced availability of trade and cash discounts.
iv. Reduced volume of sales.
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Question 3112hard
On 28th March, 2019 stock worth Rs. 10,000 was lost by fire. The insurance company admitted full claim. On 31st March. 2019 while preparing Final Accounts, it will be shown
Question 3113hard
Consider the following statements:
Assertion (A): Value added statement is an improvement over the traditional method of preparing profit and loss account.
Reason (R): Value added statement reflects the profit added by the firm and the share of various stockeholders of the business.
Now, select your answer:
Assertion (A): Value added statement is an improvement over the traditional method of preparing profit and loss account.
Reason (R): Value added statement reflects the profit added by the firm and the share of various stockeholders of the business.
Now, select your answer:
Question 3114hard
Which of the following items should be entered in the receipts and payments account of a club?
I. Sale of old newspapers
II. Loss on sale of some asset
III. Payments for investment
Select the correct answer using the options given below
I. Sale of old newspapers
II. Loss on sale of some asset
III. Payments for investment
Select the correct answer using the options given below