MCQOPTIONS
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MCQOPTIONS
This section includes 657 Mcqs, each offering curated multiple-choice questions to sharpen your Testing Subject knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
. By preparing trail balance the errors can be revealed the following |
| A. | Posting an entry twice in the ledger |
| B. | Debit of Rs. 1000 is credited twice |
| C. | Omission of complete entry |
| D. | none |
| Answer» C. Omission of complete entry | |
| 2. |
The sale __ is completed with reservednprice |
| A. | sale by sample |
| B. | sale by description |
| C. | sale by auction |
| D. | sale by staple |
| Answer» C. sale by auction | |
| 3. |
Provision for doubtful debts is Rs.1000 u0026 debtors are Rs.90,000 at end of year, provision for doubtful debt 1% required, then the entry |
| A. | P u0026 L A/cDr900To provision for doubtful debts 900 |
| B. | Provision for doubtful debts 900To P u0026 C A/c900 |
| C. | P u0026 L A/cDr100To RDD A/c100 |
| D. | none of these |
| Answer» B. Provision for doubtful debts 900To P u0026 C A/c900 | |
| 4. |
If nothing is written about the accounting assumption to be followed it is presumed that |
| A. | They have been followed |
| B. | They have not been followed |
| C. | They are followed to some extent |
| D. | none of these |
| Answer» C. They are followed to some extent | |
| 5. |
If JLP is taken jointly, on death of a partner ______ is distributed to partners against JLP |
| A. | Policy amount |
| B. | Surrender value |
| C. | Surrender value for dead partner u0026 policyvalue for other |
| D. | none of these |
| Answer» B. Surrender value | |
| 6. |
Closing stock increased by 5000, gross profit ratio 10% then what will be the profit |
| A. | Gross profit will be increased by 5000 |
| B. | Gross profit will be decreased by 5000 |
| C. | Increase by 500 |
| D. | decrease by 500 |
| Answer» B. Gross profit will be decreased by 5000 | |
| 7. |
The liability of a partner in a firm to outside is _____ |
| A. | ) unlimited |
| B. | Unlimited up to their capital sharing ratio |
| C. | Unlimited up to their guaranteed amount |
| D. | Unlimited up to their profit sharing ratio |
| Answer» B. Unlimited up to their capital sharing ratio | |
| 8. |
Hari, Roy and Prasad are sharing in 3:5:1. nnThe Roynretired then his share was taken by nnPrasad fully, then Hari u0026 Prasad profit nnsharing ratio is _____ |
| A. | 1 : 2 |
| B. | 2 : 1 |
| C. | 3 : 2 |
| D. | equally |
| Answer» B. 2 : 1 | |
| 9. |
Cost of goods sold Rs.80,700 ; Opening stock Rs.5,800, Closing stock Rs.6,000 then purchases is Rs. ____ |
| A. | 80,500 |
| B. | 74,900 |
| C. | 74,700 |
| D. | 80,900 |
| Answer» E. | |
| 10. |
The credit balance in the ledger account shows |
| A. | revenue or an asset |
| B. | expense or an asset |
| C. | expense or an liability |
| D. | revenue or an liability |
| Answer» E. | |
| 11. |
A company forfeited A’s 1000 shares Rs. 10 each @ 10% discount. But A failed to pay first call of Rs. 2 and final call of Rs. 4 and all thenshares were re issued for Rs.8 per share as fully paid up. The loss on re issue is ____ to forfeited account will be _____ |
| A. | debited Rs. 1,000 |
| B. | debited Rs. 2,000 |
| C. | credited Rs. 2,000 |
| D. | No affected will be made |
| Answer» B. debited Rs. 2,000 | |
| 12. |
Subsidiary and journal are called |
| A. | primary books |
| B. | secondary books |
| C. | principal books |
| D. | cash book |
| Answer» B. secondary books | |
| 13. |
As per accrual concept, which of the followings is not true |
| A. | revenue – expenditure = profit |
| B. | revenue – profit = expenditure |
| C. | sales + gross profit = revenue |
| D. | revenue = profit + expenditure |
| Answer» D. revenue = profit + expenditure | |
| 14. |
Mr. Xnsold goods to Mr. Y ask Mr. X to keep thengoods with him for some time |
| A. | symbolic delivery |
| B. | actual delivery |
| C. | constructive delivery |
| D. | none of these |
| Answer» B. actual delivery | |
| 15. |
. In sale by description, subject matter can be in the form of |
| A. | sample words |
| B. | symbols |
| C. | numbers |
| D. | all of the above |
| Answer» E. | |
| 16. |
The recent Tunisian revolution is known as: |
| A. | Orange Revolution |
| B. | Jasmine Revolution |
| C. | Purple Revolution |
| D. | Crescent Revolution |
| Answer» C. Purple Revolution | |
| 17. |
Selection of accounting policies appropriation is not based on |
| A. | prudence |
| B. | amount involved |
| C. | substance |
| D. | materiality |
| Answer» C. substance | |
| 18. |
“The Naive and the Sentimental Novelist’ is a 2010 publication of Harvard University Press of which of the following authors? |
| A. | Orhan Pamuk |
| B. | J.M Coetzie |
| C. | Partha Chatterjee |
| D. | Ben Okri |
| Answer» B. J.M Coetzie | |
| 19. |
Goods given as charity credited to _ account |
| A. | charity |
| B. | purchase |
| C. | drawings |
| D. | sales |
| Answer» C. drawings | |
| 20. |
Who was recently in the news when the Supreme Court of India rejected her plea for Euthansia, but paved the way for legalization of passive euthanasia? |
| A. | Aruna Shanbaug |
| B. | Aruna Roy |
| C. | Mary Roy |
| D. | Medha Patka |
| Answer» B. Aruna Roy | |
| 21. |
Julian Assange, the founder of WikiLeaks, was arrested in which of the following nations? |
| A. | U.K |
| B. | Sweden |
| C. | U.S.A |
| D. | Denmark |
| Answer» B. Sweden | |
| 22. |
Which of the following are the five countries that have decided to bid for 2017 World Athletics Championships? |
| A. | Germany, Qatar, India, Spain and China |
| B. | Qatar, USA, China, Sri Lanka and Brazil |
| C. | Germany, Britain, Hungary, Qatar and Spain |
| D. | Germany, Britain, China, Qatar and Spain |
| Answer» D. Germany, Britain, China, Qatar and Spain | |
| 23. |
Profit or loss on revaluation is shared by old partners in _____ ratio |
| A. | old profit sharing ratio |
| B. | new profit sharing ratio |
| C. | sacrificing ratio |
| D. | gaining ratio |
| Answer» B. new profit sharing ratio | |
| 24. |
Why was Arundhati Roy investigated for sedition? |
| A. | For committing contempt of court |
| B. | For saying that Kashmir is not an integral part of India |
| C. | For sympathizing with the Maoists |
| D. | For condemning nuclear tests conducted by India |
| Answer» C. For sympathizing with the Maoists | |
| 25. |
Liability on bills discounted at the time of final accounts is treated as ____ |
| A. | not an liability |
| B. | current liability |
| C. | differed liability |
| D. | contingent liability |
| Answer» E. | |
| 26. |
Damon Galgut’s ‘In a Strange Room’ was recently in news for: |
| A. | Man Booker Prize shortlist |
| B. | Winning the Pulitzer Prize |
| C. | (Winning the Orange Prize for fiction |
| D. | None of the above |
| Answer» B. Winning the Pulitzer Prize | |
| 27. |
Dissolution of partnership automatically takes place |
| A. | the business becomes unlawful |
| B. | if any one at the partners became insolvent |
| C. | if all the partnersbecame insolvent |
| D. | all of the above |
| Answer» E. | |
| 28. |
Balance in share forfeiture account is shown under the head of ____ |
| A. | share capital |
| B. | reserves u0026 surplus |
| C. | secured loans |
| D. | current liabilities |
| Answer» B. reserves u0026 surplus | |
| 29. |
Error relating to fundamental aspect of ____ |
| A. | error of principle |
| B. | error of commission |
| C. | error of compensating |
| D. | error of omission |
| Answer» B. error of commission | |
| 30. |
Muslim religious foundations are known as |
| A. | Din |
| B. | Wakfs |
| C. | Ulema |
| D. | Quzat |
| Answer» C. Ulema | |
| 31. |
What is a caveat? |
| A. | A warning |
| B. | An injunction |
| C. | Writ |
| D. | Certiorari |
| Answer» B. An injunction | |
| 32. |
If there is no agreement in between the partners for sharing profits u0026 losses then they share profits or losses in the ratio of ____ |
| A. | capital ratio at the beginning |
| B. | equally |
| C. | capital ratio at the ending |
| D. | none of the above |
| Answer» C. capital ratio at the ending | |
| 33. |
Cash Rs. 6750 paid to M but debited to N account. What would be the effect? |
| A. | Trial balance |
| B. | Balance sheet |
| C. | Individual ledgers |
| D. | total debtors |
| Answer» D. total debtors | |
| 34. |
A person who goes under-ground or evades the jurisdiction of the Court is known as : |
| A. | Offender |
| B. | Under-ground |
| C. | Absentee |
| D. | Absconder |
| Answer» E. | |
| 35. |
Offence of breaking a divine idol is______ |
| A. | Salus |
| B. | populi |
| C. | Crime Sacrilege |
| D. | Blasphemy |
| Answer» D. Blasphemy | |
| 36. |
Securities premium used for the purpose of |
| A. | Dividends |
| B. | fully paid bonus shares |
| C. | capital loss |
| D. | none of these |
| Answer» C. capital loss | |
| 37. |
The killing of a new born child by its parents is: |
| A. | Malfeasance |
| B. | Infanticide |
| C. | Abortion |
| D. | Foeticide |
| Answer» C. Abortion | |
| 38. |
Sub-partner in the partnership is |
| A. | a partner u0026 the known |
| B. | two partners in the different time |
| C. | One of them |
| D. | none of these |
| Answer» E. | |
| 39. |
Every duty enforceable by law is called: |
| A. | Accountability |
| B. | Obligation |
| C. | Burden |
| D. | Incidence |
| Answer» C. Burden | |
| 40. |
The concept of judicial review has been borrowed from the Constitution of |
| A. | U.S.S.R. |
| B. | U.K. |
| C. | U.S.A. |
| D. | Switzerland |
| Answer» D. Switzerland | |
| 41. |
Working capital is ______ |
| A. | Current Assets – Current liabilities |
| B. | Fixed Assets- Current liabilities |
| C. | Fixed Assets – liabilities |
| D. | Fixed Assets – Current Assets |
| Answer» B. Fixed Assets- Current liabilities | |
| 42. |
Fiduciary relationship means a relationship based on : |
| A. | Trust |
| B. | Money |
| C. | Contract |
| D. | Blood relation |
| Answer» B. Money | |
| 43. |
The Chairman of Tehelka Enquiry Commission is: |
| A. | Justice Kripal |
| B. | Justice S.N.Phukan |
| C. | Justice Saharia |
| D. | Justice Liberhan |
| Answer» C. Justice Saharia | |
| 44. |
A judge of the Supreme Court can be removed from office only on grounds of : |
| A. | Gross inefficiency |
| B. | Delivering wrong judgments |
| C. | Senility |
| D. | Proven misbehaviour or incapacity |
| Answer» E. | |
| 45. |
X and Y are partners. Their profit sharing ratio is 5:3. They admitted a partner Z for 5 :1 th share and contribute equally by the old |
| A. | 21:11:8 |
| B. | 20:8:9 |
| C. | 22:5:6 |
| D. | 5:3:2 |
| Answer» B. 20:8:9 | |
| 46. |
Which of the following is a characteristic of a partnership |
| A. | Artificial person |
| B. | Perpetual succession |
| C. | Limited liability of all partners |
| D. | None |
| Answer» E. | |
| 47. |
Court of Record' is a Court which? |
| A. | Maintains records |
| B. | Preserves all its records |
| C. | Can punish for its contempt |
| D. | Is competent to issue writs |
| Answer» D. Is competent to issue writs | |
| 48. |
Which of the following is not included in the Preamble to the Page 3030 Constitution? |
| A. | Morality |
| B. | Justice |
| C. | Sovereign |
| D. | Socialist |
| Answer» B. Justice | |
| 49. |
Who have constitutional right to audience in all Indian Courts? |
| A. | President |
| B. | Chief Justice of India |
| C. | Attorney General |
| D. | Solicitor General |
| Answer» D. Solicitor General | |
| 50. |
Where is the National Judicial Academy located ? |
| A. | Kolkata |
| B. | Bhopal |
| C. | Delhi |
| D. | Mumbai |
| Answer» C. Delhi | |