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Accounting MCQs

Commerce Objective Questions



1695. In which of the following methods, the asset account appears at its original cost through out its life?
Discussion

1696. Realisation account is prepared by a Partnership firm at the time of
Discussion

1697. The term 'Amortisation' is generally used to indicate the fall in value of the following:
Discussion

1698. Match the items of List-I with items of List-Il and indicate of correct matching
List-I List-II
a. Principle of separate entity 1. Valuing plant and machinery at cost less depreciation
b. Principle of conservatism 2. Recording punctuality and honesty of an organization's employees
c. Principle of money measurement 3. Capital contributed by proprietor is shown as liability in the balance sheet
d. Historical cost concept 4. Valuing inventories at cost or market price whichever is less
Discussion

1699. If closing stock is given in adjustment then it would be shown in-
Discussion

1700. If the good will raised at the time of retirement of a partner is to be written off, then the capital accounts of the remaining partners are debited in:
Discussion

1701. Which of the following items will be written on credit side of the partner's capital accounts when the accounts are floating?
Discussion

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