Explore topic-wise MCQs in Accounting And Auditing.

This section includes 3 Mcqs, each offering curated multiple-choice questions to sharpen your Accounting And Auditing knowledge and support exam preparation. Choose a topic below to get started.

1.

Given: Machinery cost Rs. 30,000. Scrap value Rs. 10,000. Life 5 years. Rate of interest 5%. Reference to sinking fund table 0.180975.The depreciation per year will be

A. Rs. 4,000
B. Rs. 3619.50
C. Rs. 8,000
D. Rs. 5429.25
Answer» C. Rs. 8,000
Discussion
2.

Owners equity stands for

A. fixed assets-fixed liabilities
B. fixed assets-current liabilities
C. current assets-fixed liabilities
D. total assets-total liabilities
Answer» E.
Discussion
3.

Capital employed in a business is Rs. 150000. Profit gained was Rs. 50000/-and the normal rate of profit is 20%. The amount of goodwill as per the capitalization method would be

A. Rs. 100000
B. Rs. 150000
C. Rs. 200000
D. Rs. 300000
Answer» B. Rs. 150000
Discussion