Accounting MCQs

Commerce Objective Questions

Home / Commerce / Accounting

113. Which of the following transactions is of capital nature:

A. Purchase of a truck

B. Replacement of old tyres

C. Cost of repairing of truck

D. All the above

114. The overall performance of a business unit is measured by:

A. Return on investment

B. Inventory turnover ratio

C. Net profit to sales ratio

D. Proprietary ratio

115. Select the correct amount of purchases, given on the following information:
Cost of goods sold - Rs. 1,20,000;
Carriage inwards - Rs. 1,890;
Opening stock - Rs. 43,640;
Closing stock - Rs. 38,500;
Purchase returns - Rs. 2,150;
Sales - Rs. 2,82,650

A. Rs. 1,15,120

C. Rs. 1,10,420

D. None of these

116. Which of them are current liabilities?
1. Debentures
2. Prepaid rent
3. Interest accrued
4. Bank overdraft
Select the correct answer:

A. 1, 2, 3 and 4

117. On the dissolution of a firm, loan from the wife of a partner is treated as

A. loan from the partner

B. outsider liability

C. preferential liability

D. liability payable after all other debts have been paid

118. A decrease in value of a fixed asset due to age, wear and tear is known as

A. Depreciation

B. Accumulated depreciation

C. Appreciation

D. Written Down Value (WDV)

119. Cash Account is

A. Personal account

B. Real account

C. Nominal account

D. None of the above

Page 17 of 420

« 15 16 17 1819 »