MCQOPTIONS
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MCQOPTIONS
This section includes 2081 Mcqs, each offering curated multiple-choice questions to sharpen your Finance & Accounting knowledge and support exam preparation. Choose a topic below to get started.
| 1551. |
Proprietary ratio is a . |
| A. | short-term solvency ratio. |
| B. | long-term solvency ratio. |
| C. | profitability ratio. |
| D. | turnover ratio. |
| Answer» C. profitability ratio. | |
| 1552. |
Under single entry system the profit and loss can be found out and also it’s comparison will be available. |
| A. | true |
| B. | false |
| C. | both and b |
| D. | only false |
| Answer» C. both and b | |
| 1553. |
Ratio analysis helps in investment decision. |
| A. | true |
| B. | false |
| C. | may be true |
| D. | a & b both |
| Answer» B. false | |
| 1554. |
Ratio analysis ensures effective cost control. |
| A. | true |
| B. | false |
| C. | none of the above |
| D. | may be both |
| Answer» B. false | |
| 1555. |
Banking Companies in India are governed by Banking Regulation act 1952. |
| A. | true |
| B. | false |
| C. | may be true |
| D. | ma be false |
| Answer» C. may be true | |
| 1556. |
Under single entry system arithmetical accuracy of the Accounting records can be checked. |
| A. | true |
| B. | false |
| C. | may be false |
| D. | both a and b |
| Answer» C. may be false | |
| 1557. |
………….Collected by the Central Maharashtra for Inter state sale. |
| A. | CGST |
| B. | SGST |
| C. | IGST |
| D. | GST |
| E. | 8th July 2019 |
| Answer» B. SGST | |
| 1558. |
………….Collected by the State Government on an Intra state sale. |
| A. | CGST |
| B. | SGST |
| C. | IGST |
| D. | GST |
| E. | 8th July 2019 |
| Answer» B. SGST | |
| 1559. |
Accounting Standards in India are Issued by the ………….. |
| A. | ICAI |
| B. | BMCC |
| C. | IT |
| D. | IMA |
| Answer» B. BMCC | |
| 1560. |
…………..is an Indirect Tax which has replaced many indirect taxes in India. |
| A. | GST |
| B. | Income Tax |
| C. | IGST |
| D. | Service Tax |
| E. | 8th July 2019 |
| Answer» B. Income Tax | |
| 1561. |
Preliminary expenses is an example of |
| A. | fixed assets. |
| B. | current assets. |
| C. | fictitious assets. |
| D. | current liabilities. |
| Answer» D. current liabilities. | |
| 1562. |
on…………………..the GST law came into the force. |
| A. | 1st July 2017 |
| B. | 2nd June 2018 |
| C. | 1st June 2017 |
| D. | 18th July 2019 |
| E. | 8th July 2019 |
| Answer» B. 2nd June 2018 | |
| 1563. |
…………..is the source of Government to increase their revenue. |
| A. | Tax |
| B. | Profit |
| C. | memorandum |
| D. | Expenses |
| E. | 8th July 2019 |
| Answer» B. Profit | |
| 1564. |
…………….is mentioned in the balance sheet as foot note. |
| A. | Contingent liability |
| B. | preliminary expenses |
| C. | debtors |
| D. | closing stock |
| Answer» B. preliminary expenses | |
| 1565. |
A ………………is generally a physical part of the business established under thesame roof. |
| A. | Surplus. |
| B. | Depreciation |
| C. | Department |
| D. | Surplus |
| Answer» D. Surplus | |
| 1566. |
In financial lease as per As-19 leased assets is shown in the Balanced sheet of-- |
| A. | lessee |
| B. | income |
| C. | loss |
| D. | refund |
| Answer» B. income | |
| 1567. |
Deposits from Society and individuals should be shown separately to the ……..side of balance sheet. |
| A. | Liabilities |
| B. | Current Assets |
| C. | Education Fund |
| D. | Fixed Assets |
| Answer» B. Current Assets | |
| 1568. |
Banks are to recognize their income on……………… basis in respect ofincome on non performing asset. |
| A. | Accrual |
| B. | cash |
| C. | credit |
| D. | none. |
| Answer» C. credit | |
| 1569. |
The method of Branch Accounting varies with the nature and the status ofbranch. |
| A. | true |
| B. | false |
| C. | neither true nor false |
| D. | none of the above |
| Answer» B. false | |
| 1570. |
If value of Insurance Policy is 31500, Stock on date of Fire is 36000 and Loss of stock is 27000 then Amount of Claim for stock will be …………… |
| A. | .23625 |
| B. | 24625 |
| C. | 25625 |
| D. | 23525 |
| Answer» B. 24625 | |
| 1571. |
Under statement of affairs method which is also termed as . |
| A. | Single entry system |
| B. | Quasi single entry system |
| C. | Capital comparison method |
| D. | Double entry system |
| Answer» D. Double entry system | |
| 1572. |
A-5 does not indicate the frequency of interim financial report. |
| A. | true |
| B. | either true or false |
| C. | both a and b |
| D. | only false |
| Answer» B. either true or false | |
| 1573. |
The ratio analysis is helpful to management in taking several decisions, but asa mechanical substitute for judgement and thinking, it is worse than useless. |
| A. | True |
| B. | False |
| C. | may be false |
| D. | both a and b |
| Answer» B. False | |
| 1574. |
Current ratio is a |
| A. | short-term solvency ratio. |
| B. | long-term solvency ratio. |
| C. | profitability ratio. |
| D. | turnover ratio. |
| Answer» B. long-term solvency ratio. | |
| 1575. |
If Sales of last year is Rs. 450000 and sales of corresponding current year isRs.200000 then Short sales will be …………… |
| A. | 250000 |
| B. | 500000 |
| C. | 250000 |
| D. | 256000 |
| Answer» B. 500000 | |
| 1576. |
The computation of loss by fire is very simple taken when a --------------asset is destroyed |
| A. | current |
| B. | long-term |
| C. | fire |
| D. | intangible |
| Answer» B. long-term | |
| 1577. |
Financial Statement Analysis can be used for assessment of past performanceonly. |
| A. | false |
| B. | true |
| C. | either true or false |
| D. | only true |
| Answer» B. true | |
| 1578. |
Reserve for doubtful debts is stands for ………… |
| A. | RDD |
| B. | Reserve fund |
| C. | Bad debts |
| D. | Loans and advances |
| Answer» B. Reserve fund | |
| 1579. |
Which ratio is calculated to ascertain the efficiency of inventory managementin terms of capital investment? |
| A. | stock velocity ratio. |
| B. | debtors velocity ratio. |
| C. | creditors velocity ratio. |
| D. | working capital turnover ratio. |
| Answer» B. debtors velocity ratio. | |
| 1580. |
Gross profit must always be calculated as a percentage on purchase . |
| A. | true |
| B. | false |
| C. | either true or false |
| D. | may be false |
| Answer» C. either true or false | |
| 1581. |
Govt. grants become -----------because of non fulfillment of the conditionsattached to that grant. |
| A. | Refundable |
| B. | non refundable |
| C. | overdraft |
| D. | income |
| Answer» B. non refundable | |
| 1582. |
……………… ratio indicates the relationship of gross profit to net sales interms of percentage. |
| A. | Gross profit |
| B. | Net profit |
| C. | debtors turnover |
| D. | capital employed |
| Answer» B. Net profit | |
| 1583. |
The ratio which determines the profitability from the shareholder’s point ofview is . |
| A. | return on investment. |
| B. | gross profit ratio. |
| C. | return on shareholders funds. |
| D. | operating profit ratio. |
| Answer» D. operating profit ratio. | |
| 1584. |
Liquid Ratio is also known as 2:1 ratio. |
| A. | false |
| B. | true |
| C. | either true or false |
| D. | none of the above |
| Answer» B. true | |
| 1585. |
Current ratio indicates the solvency position of the business. |
| A. | true |
| B. | false |
| C. | may be false |
| D. | a and b |
| Answer» B. false | |
| 1586. |
Rule number 61 of the Maharashtra Co-operative Society Rule 1961- thesociety has to prepare final statement within……….days. |
| A. | 45 |
| B. | 48 |
| C. | 21 |
| D. | 2 yrs |
| Answer» B. 48 | |
| 1587. |
If the closing capital is more than the opening capital it’s shows an increase in capital which means a …………… |
| A. | Profit. |
| B. | Shares. |
| C. | Account. |
| D. | Operating capital |
| Answer» B. Shares. | |
| 1588. |
If value of Insurance Policy is 63000, Stock on date of Fire is 72000 and Loss of stock is 54000 then Amount of Claim for stock will be …………… |
| A. | 47250 |
| B. | 48250 |
| C. | 26000 |
| D. | 25000 |
| Answer» B. 48250 | |
| 1589. |
The ratio establishes the relationship between profit before interest and taxand fixed interest charges is . |
| A. | interest cover ratio. |
| B. | fixed dividend cover ratio. |
| C. | debt service coverage ratio. |
| D. | dividend yield ratio. |
| Answer» B. fixed dividend cover ratio. | |
| 1590. |
Goods sent by the head office at the end of the year but not received by Branchbefore the year ended is known as |
| A. | goods in transit |
| B. | loss by fire |
| C. | shortage. |
| D. | loss |
| Answer» B. loss by fire | |
| 1591. |
If stock is for 90----------15300 100 -------------? |
| A. | . 17000 |
| B. | 18000 |
| C. | 29000 |
| D. | 15500 |
| Answer» B. 18000 | |
| 1592. |
Banks are to recognize their income on…………….basis in respect ofincome on performing asset. |
| A. | Accrual |
| B. | cash |
| C. | credit |
| D. | none. |
| Answer» B. cash | |
| 1593. |
As per As- 28 impairment of asset means decrease in the value of asset. |
| A. | true |
| B. | false |
| C. | only true |
| D. | May be true |
| Answer» B. false | |
| 1594. |
Prepaid expenses is an example of . |
| A. | fixed assets. |
| B. | current assets. |
| C. | fictitious assets. |
| D. | current liabilities. |
| Answer» C. fictitious assets. | |
| 1595. |
A……………..system of departmental account is more convenient where thenumber of department are very small |
| A. | Mutual. |
| B. | Branch. |
| C. | Debtor’s. |
| D. | Profit and loss |
| Answer» B. Branch. | |
| 1596. |
Debtors turnover ratio is also called . |
| A. | stock turnover ratio. |
| B. | debtors velocity ratio. |
| C. | creditors velocity ratio. |
| D. | working capital turnover ratio |
| Answer» C. creditors velocity ratio. | |
| 1597. |
Single entry system is mixture of single entry, double entry and no entry. |
| A. | true |
| B. | may be false |
| C. | only true |
| D. | none of the above |
| Answer» B. may be false | |
| 1598. |
As per AS architects services are not included in construction contract. |
| A. | false |
| B. | true |
| C. | may be true |
| D. | both a and b |
| Answer» B. true | |
| 1599. |
Most of the farming transactions are transacted on ……………..basis. |
| A. | Double entry |
| B. | Creditors. |
| C. | Surplus. |
| D. | Cash |
| Answer» E. | |
| 1600. |
Ratio analysis is an important means of expressing the relationship between two numbers. |
| A. | true |
| B. | false |
| C. | may be false |
| D. | a and b both |
| Answer» B. false | |