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 3304hard
Fixed Assets (Net):
31st December,1994 = Rs. 1,50,000
31st December, 1995 = Rs. 1,90,000
Provision for depreciation:
A machine costing Rs. 70,000 (book value Rs. 40,000) was disposed for Rs. 25,000 during the year 1995
The application of funds in respect of fixed assets during the year is:
31st December,1994 = Rs. 1,50,000
31st December, 1995 = Rs. 1,90,000
Provision for depreciation:
A machine costing Rs. 70,000 (book value Rs. 40,000) was disposed for Rs. 25,000 during the year 1995
The application of funds in respect of fixed assets during the year is:
Question 3305medium
The accounting concepts related to Balance Sheet are
1. Realisation Concept
2. Cost Concept
3. Matching Concept
4. Accounting Equivalence Concept
Select the correct answer
1. Realisation Concept
2. Cost Concept
3. Matching Concept
4. Accounting Equivalence Concept
Select the correct answer
Question 3306hard
To measure the profitability of a business, among the following which ratio will be used?
i. Acid test ratio
ii. Return on capital employed
iii. Net profit ratio
iv. Interest protection ratio
v. Stock periodic ratio
6. Debt equity ratio
i. Acid test ratio
ii. Return on capital employed
iii. Net profit ratio
iv. Interest protection ratio
v. Stock periodic ratio
6. Debt equity ratio
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Question 3307hard
Match the items given in column-I with the appropriate particulars listed in column-II
| Column-I | Column-II |
| a. Debit balance of the cash book | 1. Overdraft |
| b. Debit balance of the passbook | 2. Favourable balance |
| c. Interest charged by bank | 3. Debited in passbook |
| d. Interest provided by bank | 4. Credited in passbook |
Question 3308hard
A company was incorporated on 1st May, 1997 for acquiring a business from 1st January 1997. The sales for January, March and September is one and a half times, and the sale of December is twice and that of February is half of the average monthly sale of the year.
The ratio of sale for the period prior to incorporation and after the incorporation will be:
The ratio of sale for the period prior to incorporation and after the incorporation will be:
Question 3309hard
In which order the following items will be shown on the liabilities side of the Balance Sheet of a Company:
1. Current liabilities and provisions
2. Secured loans
3. Share capital
4. Reserves and surplus
Select the correct answer:
1. Current liabilities and provisions
2. Secured loans
3. Share capital
4. Reserves and surplus
Select the correct answer:
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Question 3310hard
Following are the events which generally happen in the life of a public limited company
1. Public issue of shares (IPO)
2. Firm Incorporation
3. Preliminary expenditures
4. Issue of equity shares to promoters of the company
Choose the correct sequence (chronological order) of the envets from the options given below:
1. Public issue of shares (IPO)
2. Firm Incorporation
3. Preliminary expenditures
4. Issue of equity shares to promoters of the company
Choose the correct sequence (chronological order) of the envets from the options given below:
Question 3311hard
Ayush started business on 1st April, 1995 with a capital of Rs. 25,000 and a loan of Rs. 12,500. Total assets and liabilities at the end of 31st March, 1996 amounted to Rs. 75,000 and Rs. 12,500 respectively. He invested a further capital of Rs. 12,500 during the year and withdrew Rs. 7,500 during the relevant financial, period. His closing capital and profits would be respectively:
Question 3312medium
Total Assets Turnover = 4
Net profit = 10%
Total assets = Rs. 50,000
The amount of Net profit would be:
Net profit = 10%
Total assets = Rs. 50,000
The amount of Net profit would be: