MCQOPTIONS
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MCQOPTIONS
This section includes 602 Mcqs, each offering curated multiple-choice questions to sharpen your Bachelor of Business Administration in Computer Applications (BBA [CA]) knowledge and support exam preparation. Choose a topic below to get started.
| 51. |
Which of the following statement is false Sol: |
| A. | If a lessee leases a part of the leased property to another person , it is called sublease |
| B. | Royalty receivable account is opened in the books of Lessor |
| C. | Recoupable short working is a current assets |
| D. | None of the above |
| Answer» C. Recoupable short working is a current assets | |
| 52. |
Shortworking means Sol: |
| A. | Excess of Minimum rent over royalty |
| B. | Excess of royalty over minimum rent |
| C. | None of the above |
| D. | all |
| Answer» B. Excess of royalty over minimum rent | |
| 53. |
If the royalty is less than minimum rent , the balance of royalty account at the end of theyear has to be transfer toSol: |
| A. | Capital reserve account. |
| B. | Reserve capita account |
| C. | Profit and loss account |
| D. | None of the above |
| Answer» D. None of the above | |
| 54. |
In case f recoupment of shortworking, the lessee: Sol: |
| A. | Debits Shortworking Account |
| B. | Credit Profit and loss account |
| C. | Credit short working Account |
| D. | None of the above |
| Answer» D. None of the above | |
| 55. |
royalty is an agreement between the following person Sol: |
| A. | Seller and buyer |
| B. | Banker and customer |
| C. | Among all partners |
| D. | Lessor and lessee |
| Answer» E. | |
| 56. |
Royalties are connected with the following types of business Sol: |
| A. | Mining |
| B. | Construction |
| C. | Textile |
| D. | All of the above |
| Answer» B. Construction | |
| 57. |
The objectives od fixing dead rent is .. Sol: |
| A. | Landlord should not get more than a certain amount per year |
| B. | Landlord must receive a minimum amount in case of low output or sales |
| C. | Both A and B |
| D. | None of the above |
| Answer» C. Both A and B | |
| 58. |
Shortworking can be recouped only out of .. Sol: |
| A. | Surplus |
| B. | Loss |
| C. | Extra Income |
| D. | Taxes |
| Answer» B. Loss | |
| 59. |
In the books of Lessee , short working recovered amount is debited to Sol: |
| A. | Profit and loss account |
| B. | Minimum rent Account |
| C. | Royalty Account |
| D. | Landlord s Account |
| Answer» B. Minimum rent Account | |
| 60. |
Royalties is calculated either on the basis of .. Sol: |
| A. | Production |
| B. | Sales |
| C. | Output |
| D. | Both A and B |
| Answer» E. | |
| 61. |
Shortworking not recouped is debited to P/L Account Sol: |
| A. | True |
| B. | False |
| C. | none |
| D. | all |
| Answer» B. False | |
| 62. |
Royalty is Rs 64,000, Minimum rent Rs 80,000. Strike is for 3 months with no work done, Minimum rent to be reduced in proportion of time, find the amount paid to Landlord. |
| A. | Rs 60000 |
| B. | Rs 80000 |
| C. | Rs 64000 |
| D. | Rs 100000 |
| Answer» C. Rs 64000 | |
| 63. |
Fictitious Assets are to be transferred to ___________________ |
| A. | internal reconstruction |
| B. | share capital |
| C. | securities premium |
| D. | capital reserve |
| Answer» B. share capital | |
| 64. |
In case of Buy Back at a discount the amount of discount is transferred to _________________ |
| A. | capital reserve a/c |
| B. | general reserve a/c |
| C. | capital redemption reserve a/c |
| D. | securities premium a/c |
| Answer» B. general reserve a/c | |
| 65. |
Goodwill is to be calculated at one and half year purchase of average profit of last 5years. The firm earned profits during 3 years as 20,000 18,000 and 9,000 and sufferedlosses of 2,000 and 5,000 in last 2 years. The amount of goodwill will be |
| A. | Rs 12000 |
| B. | Rs 10000 |
| C. | Rs 15000 |
| D. | None of the Above |
| Answer» B. Rs 10000 | |
| 66. |
If the provision for income tax for 2013 is Rs.30,000 and for 2014 is Rs.40,000; and income tax of Rs.25,000 is paid during the year 2014 in respect of year 2013, the amount of to be debited to the Profit and Loss Adjustment Account as Provision for Income Tax to find out Funds from Operation will be |
| A. | Rs.35,000 |
| B. | Rs.45,000 |
| C. | Rs.15,000 |
| D. | Rs.25,000 |
| Answer» B. Rs.45,000 | |
| 67. |
From the following information provided, the income from subscription to be shown in the Income and Expenditure A/C for the year ending 31/12/2015 can be calculated at Rs. ______(i) Subscription received during 2015 : for 2014 Rs.5,000 for 2015 Rs.30,000 for 2016 Rs.6,000(ii) Subscription received in advance as at 31/12/2014 Rs.6,000(iii) Subscription outstanding as at 31/12/2014 Rs.6,000(iv) Subscription outstanding as at 31/12/2015 Rs.4,000 |
| A. | Rs.40,000 |
| B. | Rs.28,000 |
| C. | Rs.51,000 |
| D. | Rs.41,000 |
| Answer» B. Rs.28,000 | |
| 68. |
Profit generated from the branch is transferred to |
| A. | Branch profit and loss account |
| B. | General profit and loss account |
| C. | Branch expenses account |
| D. | None of these |
| Answer» C. Branch expenses account | |
| 69. |
Cash from operations is equal to |
| A. | Net profit plus decrease in current assets |
| B. | Net profit plus decrease in current liabilities |
| C. | Net profit plus bonus paid in the form of fully paid bonus shares |
| D. | None of the above |
| Answer» B. Net profit plus decrease in current liabilities | |
| 70. |
Fund flow refers to changes in |
| A. | application |
| B. | sources |
| C. | both a. and b. |
| D. | working capital |
| Answer» E. | |
| 71. |
Which of the following is not a reason that explains why more firms are reporting on social matters? |
| A. | Media power |
| B. | Increased efficiency |
| C. | Encouragement from governments through company law |
| D. | Consumer's views |
| Answer» C. Encouragement from governments through company law | |
| 72. |
Receipts and Payment A/c is a |
| A. | Nominal A/c |
| B. | Real A/c |
| C. | Personal A/c |
| D. | Both nominal and personal A/c |
| Answer» C. Personal A/c | |
| 73. |
The Income and expenditure account begins with |
| A. | Debit balance |
| B. | Credit balance |
| C. | No balance |
| D. | Balance from the previous year |
| Answer» D. Balance from the previous year | |
| 74. |
Income and Expenditure A/c is a |
| A. | Nominal A/c |
| B. | Real A/c |
| C. | Personal A/c |
| D. | None of the above |
| Answer» B. Real A/c | |
| 75. |
Independent Branch meant when separate account are maintained by: |
| A. | H O |
| B. | Branch |
| C. | Both (a) and (b) |
| D. | None of the above |
| Answer» C. Both (a) and (b) | |
| 76. |
In accounting consignment, signifies |
| A. | Goods forwarded from one place to another |
| B. | Goods forwarded by a person to another. |
| C. | Goods despatched by its owner to its agent |
| D. | Goods despatched by its owner to his agent for the purpose of sale. |
| Answer» E. | |
| 77. |
Usually dependent branch makes: |
| A. | Cash sales only |
| B. | Credit sales only |
| C. | Cash & Credit sales |
| D. | Instalment sales |
| Answer» B. Credit sales only | |
| 78. |
Wholesale prices are fixed above |
| A. | Cost |
| B. | Invoice price |
| C. | Both a and b |
| D. | None of these |
| Answer» B. Invoice price | |
| 79. |
Collection from debtors would result in |
| A. | Source of funds |
| B. | Application of funds |
| C. | Neither source or application of funds |
| D. | None of these |
| Answer» D. None of these | |
| 80. |
Payment to creditors would result in |
| A. | Source of funds |
| B. | Application of funds |
| C. | Neither source or application of funds |
| D. | Both source and application of funds |
| Answer» D. Both source and application of funds | |
| 81. |
Up to the trial balance, the accounting arrangements for a foreign branch are exactly the same as for any |
| A. | Dependent branch |
| B. | Independent branch |
| C. | Both a and b |
| D. | None of the above |
| Answer» C. Both a and b | |
| 82. |
A statement prepared in the form of report; |
| A. | Fund flow |
| B. | Cash flow |
| C. | Ratio |
| D. | Balance sheet |
| Answer» C. Ratio | |
| 83. |
Dependent branch makes : |
| A. | Cash sales only |
| B. | Credit sales only |
| C. | Cash & Credit sales |
| D. | Instalment sales |
| Answer» D. Instalment sales | |
| 84. |
A joint venture is a |
| A. | A general partnership |
| B. | A particular partnership |
| C. | Not limited to a particular venture |
| D. | None of the above |
| Answer» C. Not limited to a particular venture | |
| 85. |
Under Debtors system, credit sales are |
| A. | Debited to Branch Account |
| B. | Credited to Branch Account |
| C. | Debited to Branch Debtors Account |
| D. | None of the Above |
| Answer» D. None of the Above | |
| 86. |
An independent branch |
| A. | Receives the goods from the head office |
| B. | Purchases the goods from outside parties |
| C. | Receives goods from both head office and outside parties |
| D. | None of the above |
| Answer» D. None of the above | |
| 87. |
Consignee account is in the nature of |
| A. | Personal account |
| B. | Real account |
| C. | Nominal account |
| D. | None of the above |
| Answer» B. Real account | |
| 88. |
The consignee is: |
| A. | Principal |
| B. | Agent |
| C. | Buyer |
| D. | Seller |
| Answer» C. Buyer | |
| 89. |
Account sales is submitted by; |
| A. | Consignor |
| B. | Consignee |
| C. | Principal to his agent |
| D. | Debtor to creditor |
| Answer» C. Principal to his agent | |
| 90. |
The advantage of a single entry system |
| A. | It is a very simple method |
| B. | It is less expensive |
| C. | It is mainly suited to small business |
| D. | All of the above |
| Answer» E. | |
| 91. |
The disadvantage of single entry system |
| A. | Incomplete and Unscientific System |
| B. | Difficulty in preparing Balance Sheet |
| C. | True Profit or Loss cannot be ascertained |
| D. | All of the above |
| Answer» E. | |
| 92. |
Receipts and Payments Account generally shows: |
| A. | A Debit balance |
| B. | A Credit balance |
| C. | Surplus or Deficit |
| D. | Capital Fund |
| Answer» B. A Credit balance | |
| 93. |
Income and Expenditure Account reveals |
| A. | Surplus or Deficiency |
| B. | Cash in Hand |
| C. | Net Profit |
| D. | Capital Fund |
| Answer» B. Cash in Hand | |
| 94. |
Receipts and Payments account is |
| A. | Nominal Account |
| B. | Real Account |
| C. | Personal Account |
| D. | None of the above |
| Answer» C. Personal Account | |
| 95. |
In single entry system sales are computed by adding |
| A. | Cash sales and cash received from debtors |
| B. | Cash sales and credit sales |
| C. | Credit sales and cash received from debtors. |
| D. | None of these. |
| Answer» C. Credit sales and cash received from debtors. | |
| 96. |
Account Sales is submitted by: |
| A. | Consignor |
| B. | Consignee |
| C. | Principal to his agent |
| D. | Debtor to creditor |
| Answer» C. Principal to his agent | |
| 97. |
In accounting consignment means |
| A. | Goods forwarded from one place to another. |
| B. | Goods forwarded by a person to another. |
| C. | Goods sent by its owner to his agent. |
| D. | Goods sent by its owner to his agent for the purpose by sale. |
| Answer» E. | |
| 98. |
Receipts and Payments Account is a: |
| A. | Personal Account |
| B. | Real Account |
| C. | Nominal Account |
| D. | All of the above |
| Answer» C. Nominal Account | |
| 99. |
Income and Expenditure A/c reveals |
| A. | Cash in hand |
| B. | Surplus or deficiency |
| C. | Capital A/c |
| D. | Profit or Loss |
| Answer» C. Capital A/c | |
| 100. |
When commission is due underwriter A/c is |
| A. | Credited |
| B. | Debited |
| C. | Transfer to Capital A/c |
| D. | None of the above |
| Answer» B. Debited | |