MCQOPTIONS
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MCQOPTIONS
This section includes 69 Mcqs, each offering curated multiple-choice questions to sharpen your Bachelor of Business Administration (BBA) knowledge and support exam preparation. Choose a topic below to get started.
| 51. |
Opening balance of debtors a/c is Rs 1,40,000. Credit sales is Rs 10,74,000 and closing balance of Debtors a/c is Rs 1,90,000. What is the amount of cash collection from the debtors? |
| A. | rs 10,24,000 |
| B. | rs 8,84,000 |
| C. | rs 11, 52,000 |
| D. | rs 8,42,000 |
| Answer» B. rs 8,84,000 | |
| 52. |
The agreement among partners which set out the terms on which they had agreed to form a partnership is called: |
| A. | partnership deed |
| B. | partnership at will |
| C. | none of these |
| D. | arbitration clause |
| Answer» B. partnership at will | |
| 53. |
In the absence of an agreement, Interest on loan advanced by the partner to the firm is allowed at the rate of: |
| A. | 6% |
| B. | 5% |
| C. | 12% |
| D. | 9% |
| Answer» B. 5% | |
| 54. |
Securities premium account is shown on the liabilities side of the balance sheet under the head: |
| A. | share capital |
| B. | reserves and surplus |
| C. | current liabilities |
| D. | non-current liabilities |
| Answer» C. current liabilities | |
| 55. |
If the opening balance of debtors is Rs 16,000 and closing balance is Rs 80,000, cash received from debtors is Rs 35,000 and bad debts is Rs 1,000, then what will be the amount of credit sales? |
| A. | rs 95000 |
| B. | rs 105000 |
| C. | rs 100000 |
| D. | rs 110000 |
| Answer» D. rs 110000 | |
| 56. |
____________ account is prepared to adjust the loads included in the value of opening stock and closing stock. |
| A. | branch stock |
| B. | branch adjustment |
| C. | stock reserve |
| D. | branch p&l |
| Answer» C. stock reserve | |
| 57. |
H.O. has sent goods on invoice price worth Rs 2,40,000 which are 25% above cost price. What is the loading element? |
| A. | rs 60000 |
| B. | rs 240000 |
| C. | rs 48000 |
| D. | rs 160000 |
| Answer» D. rs 160000 | |
| 58. |
________ means the price at which the goods can be purchased by the hirer for ready cash. |
| A. | hp price |
| B. | installment price |
| C. | cash price |
| D. | down payment |
| Answer» D. down payment | |
| 59. |
As per section 78 of the companies act, amount collected as premium on securities cannot be utilized for: |
| A. | issuing fully paid bonus shares to the members |
| B. | purchase of fixed assets |
| C. | writing off preliminary expenses |
| D. | buy back of it s own shares |
| Answer» C. writing off preliminary expenses | |
| 60. |
The adjusting entry for difference between the invoice price and cost price of goods are shown in ________ |
| A. | balance sheet |
| B. | p & l a/c |
| C. | branch adjustment a/c |
| D. | none of above |
| Answer» D. none of above | |
| 61. |
H.O. sent Rs 5000 as petty cash to branch during the year. Opening and closing balances of petty cash was Rs 1400 and Rs 400 respectively. Then petty expenses of the branch during the year will be ______ |
| A. | rs 5000 |
| B. | rs 6400 |
| C. | rs 4600 |
| D. | rs 6000 |
| Answer» E. | |
| 62. |
When Branch pays expenses for H.O. the following account is debited in the books of the branch _______ |
| A. | expenses is debited |
| B. | h.o. a/c is debited |
| C. | branch is debited |
| D. | none |
| Answer» C. branch is debited | |
| 63. |
Goods sent by HO but not received by branch before the end of the year, by debiting it to goods in transit, which account should be credited? |
| A. | cash a/c |
| B. | h.o. a/c |
| C. | trading a/c |
| D. | branch a/c |
| Answer» E. | |
| 64. |
Under debtors system which account is prepared by head office to calculate profit or loss of each branch: |
| A. | capital account |
| B. | debtors account |
| C. | branch account |
| D. | branch adjustment account |
| Answer» D. branch adjustment account | |
| 65. |
Branch Trading &Profit & Loss A/c is only a _________ account not forming part of the full accounting system. |
| A. | single |
| B. | memorandum |
| C. | capital |
| D. | double |
| Answer» C. capital | |
| 66. |
If shares are bought back out of free reserves then a sum equal to nominal value of the shares so bought back is transferred to: |
| A. | capital reserve account |
| B. | capital redemption reserve account (crr) |
| C. | general reserve account |
| D. | statutory reserve account |
| Answer» C. general reserve account | |
| 67. |
HO sends goods to branch at invoice price after adding 25% on cost price, so profit would be ___ % of invoice price |
| A. | 33.33% |
| B. | 40% |
| C. | 20% |
| D. | 25% |
| Answer» D. 25% | |
| 68. |
Forfeiture of shares results in compulsory termination of ______ due to non-payment of allotment/call money |
| A. | allotment |
| B. | membership |
| C. | subscription |
| D. | issue |
| Answer» C. subscription | |
| 69. |
In case of Hire-Purchase the total sum payable by the hire-purchaser as per terms in order to complete the transactions is |
| A. | net cash price |
| B. | net hire-purchase charges |
| C. | hire-purchase price |
| D. | cash price instalment |
| Answer» D. cash price instalment | |