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 3169medium
Find gross profit/gross loss if,
| Cost of goods sold | Rs. 7,900 |
| Sales | Rs. 11,000 |
| Purchase | Rs. 3,000 |
Question 3170hard
A club received the following donation in the year ending 31st March, 2004.
The donation received in the year 2003 - 04 were Rs. 2,45,000. The club donation income for 2003 - 04 was
| 31st March, 2003 | 31st March, 2004 | |
| Outstanding Donation | Rs. 19,500 | Rs. 25,500 |
| Advance Donation | Rs. 12,800 | Rs. 9,500 |
The donation received in the year 2003 - 04 were Rs. 2,45,000. The club donation income for 2003 - 04 was
Question 3171medium
If,
Selling price is Rs. 10;
Variable cost per unit is Rs. 6 and
Total fixed costs are Rs. 48,000
Then the Break Even Point will be
Selling price is Rs. 10;
Variable cost per unit is Rs. 6 and
Total fixed costs are Rs. 48,000
Then the Break Even Point will be
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Question 3172hard
Consider the following information:
Cash flow from operation will be
| Net profit before depreciation and tax | Rs. 44,000 |
| Depreciation for the year | Rs. 8,000 |
| Goodwill written off | Rs. 10,000 |
| Rate of tax | 50% |
Cash flow from operation will be
Question 3173hard
Which of the following techniques for appraisal of investment proposals are based on time value of money?
1. Accounting Rate of Return
2. Internal Rate of Return
3. Profitability Index Method
4. Earnings Per Share
1. Accounting Rate of Return
2. Internal Rate of Return
3. Profitability Index Method
4. Earnings Per Share
Question 3174hard
Match the following
| List I | List II |
| a. Capital is the difference between | 1. Cost of goods sold from sales |
| b. Gross profit is ascertained by deducting | 2. To find out cost of production |
| c. Wages paid for erecting machines are | 3. Assets and liabilities |
| d. The manufacturing account is prepared | 4. Debited to machinery account |
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Question 3175hard
Amount spent on advertisement campaign, the benefit of which is likely to last for at least three years, is
OR
Rs. 1,00,000 spent on special advertising compaign will be:
OR
Rs. 1,00,000 spent on special advertising compaign will be:
Question 3176hard
| Opening Stock | Rs. 15,000 |
| Purchases | Rs. 95,000 |
| Closing Stock | Rs. 29,000 |
| Cash Received from Debtors | Rs. 40,000 |
Gross profit on sales 10%.
Amount of sales would be
Question 3177hard
The value of plant and machinery as on 1st January, 2005 was Rs. 80,000/- and its value as on 31th December 2005 was Rs. 1,20,000/-. During the year Rs. 10,000/ was written off as depreciation. This will result in