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. |
Balance of Debenture Redemption Fund Account is transferred to— |
| A. | Capital Reserve A/c |
| B. | Profit and Loss A/c |
| C. | General Reserve A/c |
| D. | None of these |
| Answer» D. None of these | |
| 2. |
Who is called ‘The Father of Scientific Management’ ? |
| A. | Elton Mayo |
| B. | Henry Fayol |
| C. | E. F. L. Breach |
| D. | F. W. Taylor |
| Answer» E. | |
| 3. |
Garner Vs. Murray rule applies in case of— |
| A. | Admission of a partner |
| B. | Dissolution of a firm |
| C. | Retirement of a partner |
| D. | Death of a partner |
| Answer» C. Retirement of a partner | |
| 4. |
Hawthorne Experiments were conducted by— |
| A. | Elton Mayo |
| B. | Henry Fayol |
| C. | F. W. Taylor |
| D. | Peter F. Drucker |
| Answer» B. Henry Fayol | |
| 5. |
A plan when expressed in quantitative terms is called— |
| A. | Policy |
| B. | Procedure |
| C. | Objective |
| D. | Budget |
| Answer» E. | |
| 6. |
X Ltd. forfeited 20 shares of Rs. 10 each on which Rs. 6 per share were paid. If out of these shares, 8 shares were reissued to Ram as fully paid up on payment of Rs. 5.50 per share, the amount that will remain standing to the credit of Share Forfeited A/c will be |
| A. | Rs. 48 |
| B. | Rs. 72 |
| C. | Rs. 84 |
| D. | Rs. 120 |
| Answer» E. | |
| 7. |
Goods worth Rs. 2,000 were distributed to employees free of charge. The account to be debited is— |
| A. | Profit and Loss A/c |
| B. | Advertisement A/c |
| C. | Labour Welfare A/c |
| D. | Goods A/c |
| Answer» B. Advertisement A/c | |
| 8. |
Accounting for research and development relates to— |
| A. | AS-7 |
| B. | AS-8 |
| C. | AS-9 |
| D. | AS-10 |
| Answer» C. AS-9 | |
| 9. |
The maximum rate of underwriting commission on debentures is— |
| A. | 10% |
| B. | 2•5% |
| C. | 12•5% |
| D. | 5% |
| Answer» C. 12•5% | |
| 10. |
Bonus Shares are issued to |
| A. | Equity Shareholders |
| B. | Preference Shareholders |
| C. | Debenture Holders |
| D. | Secured Creditors |
| Answer» B. Preference Shareholders | |
| 11. |
Share Premium received by a Company may be used for |
| A. | Payment of dividend |
| B. | Payment of remuneration to management |
| C. | Issue of Bonus shares |
| D. | None of these |
| Answer» D. None of these | |
| 12. |
On an equity share of Rs. 100, the minimum amount payable on application under the law should be |
| A. | Rs. 20 |
| B. | Rs. 15 |
| C. | Rs. 10 |
| D. | Rs. 5 |
| Answer» E. | |
| 13. |
Which of the following is shown in Profit u0026 Loss Appropriation A/c ? |
| A. | Provision for Income Tax |
| B. | Provision for Depreciation |
| C. | Provision for Doubtful Debts |
| D. | Contribution to General Reserve |
| Answer» E. | |
| 14. |
Which of the following is an example of capital expenditure ? |
| A. | Insurance Premium |
| B. | Taxes and Legal expenses |
| C. | Depreciation |
| D. | Custom duty on import of machinery |
| Answer» E. | |
| 15. |
A Company can reissue its forfeited shares— |
| A. | At a premium |
| B. | At a face value |
| C. | At a discount |
| D. | All of the above |
| Answer» E. | |
| 16. |
Given :Average profit of a firm Rs. 21,000Normal Profit Rs. 18,000Value of goodwill on the basis of 3 years purchases of super profit shall be— |
| A. | Rs. 39,000 |
| B. | Rs. 9,000 |
| C. | Rs. 3,000 |
| D. | Rs. 12,000 |
| Answer» C. Rs. 3,000 | |
| 17. |
On liquidation of a Company first payment is made in respect of— |
| A. | Liquidator’s remuneration |
| B. | Legal expenses |
| C. | Preferential creditors |
| D. | None of the above |
| Answer» D. None of the above | |
| 18. |
A co-operative auditor starts his work of audit from— |
| A. | Account Books |
| B. | Payment Books |
| C. | Cash Book |
| D. | None of the above |
| Answer» D. None of the above | |
| 19. |
Workmen’s Compensation Fund is a— |
| A. | Provision |
| B. | Surplus |
| C. | Current liability |
| D. | Loan |
| Answer» C. Current liability | |
| 20. |
Debentures of Rs. 4,25,000 are issued against the purchase of assets of Rs. 4,50,000. In this case the amount of Rs. 25,000 is— |
| A. | Capital Reserve |
| B. | Securities Premium |
| C. | Revenue Profit |
| D. | Goodwill |
| Answer» B. Securities Premium | |
| 21. |
Goodwill is— |
| A. | Floating Asset |
| B. | Wasting Asset |
| C. | Fictitious Asset |
| D. | Intangible Asset |
| Answer» E. | |
| 22. |
A Balance Sheet shows only— |
| A. | Personal Accounts and Nominal Accounts |
| B. | Real Accounts and Nominal Accounts |
| C. | Personal Accounts and Real Accounts |
| D. | Personal, Real and Nominal Accounts |
| Answer» D. Personal, Real and Nominal Accounts | |
| 23. |
Pre-incorporation Profit is transferred to— |
| A. | General Reserve |
| B. | Capital Reserve |
| C. | Profit and Loss A/c |
| D. | Trading A/c |
| Answer» C. Profit and Loss A/c | |
| 24. |
Match the following List-I with List-II and select the correct answer from the answer codes given below—List-I(a) AS-6 (b) AS-10(c) AS-26 (d) AS-20List-II1. Accounting for Earning per share2. Accounting for intangible and fictitious assets3. Accounting for fixed assets4. Depreciation AccountingCodes :(a) (b) (c) (d) |
| A. | 1 2 3 4 |
| B. | 3 2 1 4 |
| C. | 1 3 2 4 |
| D. | 4 3 2 1 |
| Answer» E. | |
| 25. |
Given :Depreciation on the basis of Fixed Instalment Method Rs. 2,000 p.a.Establishment expenses Rs. 5,000Scrap value Rs. 1,000Span of life 10 yearsThe cost of assets will be— |
| A. | Rs. 20,000 |
| B. | Rs. 16,000 |
| C. | Rs. 12,000 |
| D. | None of these |
| Answer» B. Rs. 16,000 | |
| 26. |
Discount on Issue of Shares A/c is shown at the— |
| A. | Debit side of P u0026 L A/c |
| B. | Assets side of B/S |
| C. | Liabilities side of B/S |
| D. | None of the above |
| Answer» C. Liabilities side of B/S | |
| 27. |
Establishment expenses of a new machine will be debited to— |
| A. | Expenses Account |
| B. | Profit and Loss Account |
| C. | Machinery Account |
| D. | None of the above |
| Answer» D. None of the above | |
| 28. |
Given :Cost Rs. 1,00,000Scrap Value Rs. 10,000Span of Life 10 yearsRate of depreciation 20% p.a.The amount of depreciation for the first year on the basis of diminishing balance method will be— |
| A. | Rs. 20,000 |
| B. | Rs. 18,000 |
| C. | Rs. 9,000 |
| D. | Rs. 10,000 |
| Answer» C. Rs. 9,000 | |
| 29. |
National Judicial Council is headed by whom amongst the following ? |
| A. | Chief Justice of India |
| B. | President of India |
| C. | Vice President of India |
| D. | Speaker of the Lok Sabha5)Union Law Minister |
| Answer» B. President of India | |
| 30. |
The share of new partner in the profits is 1/5 and his capital is Rs. 20,000. The new profit sharing ratio is 3 : 1 : 1. The share of partners in total capital will be— |
| A. | 60,000 : 20,000 : 20,000 |
| B. | 80,000 : 20,000 : 20,000 |
| C. | 50,000 : 20,000 : 25,000 |
| D. | None of the above |
| Answer» B. 80,000 : 20,000 : 20,000 | |
| 31. |
The meaning of written down value is— |
| A. | Original cost – Scrap value |
| B. | Book value + Depreciation |
| C. | Book value – Depreciation |
| D. | None of these |
| Answer» D. None of these | |
| 32. |
At the time of dissolution the loss of the business, will be compensated first of all from— |
| A. | Capital |
| B. | Profits |
| C. | Personal resources of the partners |
| D. | Donations |
| Answer» C. Personal resources of the partners | |
| 33. |
Which of the following is not a part of Bulk Imports in our country ? |
| A. | Fertilizers |
| B. | Iron u0026 Steel |
| C. | Handicraft |
| D. | Edible Oil5)Non Ferrous Metals |
| Answer» D. Edible Oil5)Non Ferrous Metals | |
| 34. |
Who amongst the following won theIndian Open Grand Prix Badminton Championshipheld in April 2008 ? |
| A. | Thailand |
| B. | India |
| C. | England |
| D. | China5)None of these |
| Answer» C. England | |
| 35. |
Which programme was launched to provide housing to rural people ? |
| A. | Indira Awas Yojana |
| B. | Slum Development Yojana |
| C. | Adarsh Basti Programme |
| D. | Balmiki Ambedkar Awas Yojana5)None of these |
| Answer» B. Slum Development Yojana | |
| 36. |
Ram Baran Yaday has taken over as the ________ |
| A. | President of Nepal |
| B. | Prime Minister of Nepal |
| C. | Governor of Assam |
| D. | Governor of Manipur5)Governor of Kerala |
| Answer» B. Prime Minister of Nepal | |
| 37. |
Service sector in India is about what percentage of the total gross Domestic Product (GDP)? |
| A. | 30% |
| B. | 40% |
| C. | 54% |
| D. | 48%5)64% |
| Answer» D. 48%5)64% | |
| 38. |
The theme of which of the following wasMeeting Global Challenge Trough Innovative Cooperation? |
| A. | G-8 Summit |
| B. | SAARC |
| C. | NATO |
| D. | European Union5)Summit of Eight Islamic Developing Countries |
| Answer» B. SAARC | |
| 39. |
Which of the following terms is used in Rifle Shooting ? |
| A. | Bull's Eye |
| B. | Smash |
| C. | Stroke |
| D. | Trump5)Punch |
| Answer» B. Smash | |
| 40. |
Which of the following is NOT a plantation crop ? |
| A. | Cconut |
| B. | Potato |
| C. | Oil Palm |
| D. | Cashew5)Rubber |
| Answer» C. Oil Palm | |
| 41. |
Which of the following is NOT a Social Sector Programme ? |
| A. | Mid Day Meal Scheme |
| B. | Look East Policy |
| C. | Sarva Shiksha Abhiyan |
| D. | Kutir Jyoti5)Development of Women u0026 Children in Rural Area |
| Answer» B. Look East Policy | |
| 42. |
ADRs is a—(In capital market) |
| A. | American Depository Receipts |
| B. | All Deposits Rate |
| C. | All Division Rule |
| D. | All of these5)None of these |
| Answer» B. All Deposits Rate | |
| 43. |
The 11th five year plan aims at a growth rate at which of the following levels ? |
| A. | 8% |
| B. | 9% |
| C. | 9.5% |
| D. | 10%5)11% |
| Answer» C. 9.5% | |
| 44. |
Which of the following was India's rank inGlobal Hunger Index for 2007? |
| A. | 118th |
| B. | 101th |
| C. | 96th |
| D. | 90th5)50th |
| Answer» D. 90th5)50th | |
| 45. |
Which of the following banks has taken over the Centurion Bank of Punjab recently ? |
| A. | IDBI Bank |
| B. | ICICI Bank |
| C. | HDFC Bnak |
| D. | Axis Bank5)None of these |
| Answer» D. Axis Bank5)None of these | |
| 46. |
Resource should be obtained at— |
| A. | Maximum Cost |
| B. | Minimum Cost |
| C. | No Cost no Profit |
| D. | All of these5)None of these |
| Answer» C. No Cost no Profit | |
| 47. |
The exchange department of a bank— |
| A. | Produce the banker note |
| B. | Convert the Foreign Currency into domestic Currency |
| C. | Issue a ATM Card |
| D. | Issue a Kishan Card5)Issue a bank note |
| Answer» C. Issue a ATM Card | |
| 48. |
Put option is available for— |
| A. | Buyer |
| B. | Seller |
| C. | Buyer or seller |
| D. | Regulated Authority of Bank5)All of these |
| Answer» B. Seller | |
| 49. |
Loan and Advance of a bank is— |
| A. | Assets of bank |
| B. | Liabilities of bank |
| C. | Bill |
| D. | Cost5)All of these |
| Answer» B. Liabilities of bank | |
| 50. |
PSBs is a—(In case of bank) |
| A. | Public Social Books |
| B. | Public Sector Banks |
| C. | Private Social Banks |
| D. | All of these5)None of these |
| Answer» C. Private Social Banks | |