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MCQOPTIONS
This section includes 200950 Mcqs, each offering curated multiple-choice questions to sharpen your General Knowledge knowledge and support exam preparation. Choose a topic below to get started.
| 8151. |
Machinerynwas purchased for Rs.5,00,000 on 1.4.2008.nW.D.V. after 3 years of depreciation at 10%np.a. under W.D.V. method will be ___. |
| A. | 4,50,000 |
| B. | 4,05,000 |
| C. | 3,54,500 |
| D. | 3,64,500 |
| Answer» E. | |
| 8152. |
A, B,C and D are partners sharing profits u0026 losses equally. After one year they decided to share profits in the ratio of 2 : 2 : 1 : 1. D’s sacrifice is________ |
| A. | 1/24 |
| B. | 1/12 |
| C. | 1/10 |
| D. | 1/6 |
| Answer» C. 1/10 | |
| 8153. |
XYZ Ltd has a house of 3 years old. It is used as guest house. It incurred an expenditure of Rs. 2.5 lakhs for its repairs. The nature of this expense is ______ |
| A. | Capital Expenditure |
| B. | Revenue Expenditure |
| C. | Deferred Revenue Expenditure |
| D. | None of these |
| Answer» C. Deferred Revenue Expenditure | |
| 8154. |
Afternrecording the transactions and events in Journalnand Subsidiary Books, they will be transferrednto ____ |
| A. | Ledger |
| B. | Trading A/c |
| C. | Profit u0026 LossA/c |
| D. | Balance Sheet |
| Answer» B. Trading A/c | |
| 8155. |
Billsnreceived discounted by the drawer will be recorded by the drawee in _____ |
| A. | Journal |
| B. | Ledger |
| C. | Trial Balance |
| D. | No where |
| Answer» E. | |
| 8156. |
__ isnshown as foot note under the Balance Sheet. |
| A. | Contingent asset |
| B. | Contingent liability |
| C. | Fixed asset |
| D. | None |
| Answer» C. Fixed asset | |
| 8157. |
A Billnis drawn for 3 months on May 12th . The duendate of the bill date is ______ |
| A. | 15th August |
| B. | 14thAugust |
| C. | 16th August |
| D. | 12th August |
| Answer» C. 16th August | |
| 8158. |
X of Delhi purchased machinerynfrom Y of Chennai for Rs.10,00,000. He paid freight of Rs. 2,00,000 and excise duty of Rs.1,00,000. He used the machinery in his business. At the en |
| A. | 13 lakhs |
| B. | 13.5 lakhs |
| C. | 11.5 lakhs |
| D. | 15 lakhs |
| Answer» D. 15 lakhs | |
| 8159. |
Purchase of goods for Rs.13,500 has been recorded as Rs.13,000 in the purchases book. This is _____ |
| A. | Error of omission |
| B. | Error of commission |
| C. | Error of Principle |
| D. | None |
| Answer» C. Error of Principle | |
| 8160. |
Salary paid Rs. 15,000 to a partner will appear in _____ |
| A. | Note on account |
| B. | Revaluation A/c |
| C. | Profit u0026 Loss appropriation A/c |
| D. | Trading A/c |
| Answer» D. Trading A/c | |
| 8161. |
. Human resources will not appear in the balance sheet according to ______ concept. |
| A. | Accrual |
| B. | Going concern |
| C. | Money measurement concept |
| D. | None |
| Answer» D. None | |
| 8162. |
Working capital is _____ |
| A. | Current assets – current liabilities |
| B. | Fixed assets – fixed liabilities |
| C. | Fixed assets -current liabilities |
| D. | Current assets – fixed liabilities |
| Answer» B. Fixed assets – fixed liabilities | |
| 8163. |
Bills Payable A/c is shown in the balance sheet under the head ______ |
| A. | Provision |
| B. | Reserves u0026 Surplus |
| C. | Secured loans |
| D. | Current liabilities |
| Answer» E. | |
| 8164. |
Profit or Loss on the sale of fixed assets is transferred to ____ |
| A. | Profit u0026 Loss A/c |
| B. | Capital Reserve A/c |
| C. | Revaluation A/c |
| D. | Capital A/c |
| Answer» B. Capital Reserve A/c | |
| 8165. |
Interest payable on debentures is _____ |
| A. | An appropriation of profit |
| B. | A Charge against profit |
| C. | Transferred to sinking fund. |
| D. | Treated as miscellaneous expenses to beshown in the balance sheet. |
| Answer» C. Transferred to sinking fund. | |
| 8166. |
Thendebts written off as bad, subsequently collected by the proprietornand retained by himnfor his personal use. What is the accounting treatment fornthis transaction? |
| A. | Debit Drawings A/c u0026 Credit Debtors A/c |
| B. | Debit Cash A/c u0026 Credit Bad debtsrecovered A/c |
| C. | Simply ignore the Transaction |
| D. | Debit Drawings A/c u0026 Credit Bad debtsrecovered A/c |
| Answer» E. | |
| 8167. |
Loss on issue of debentures is treated as: |
| A. | Miscellaneous expenditure |
| B. | Intangible assets. |
| C. | Current Assets |
| D. | Current Liability |
| Answer» B. Intangible assets. | |
| 8168. |
Balance in Share Forfeiture A/c is shown in the Balance Sheet under the head. |
| A. | Share Capital |
| B. | Reserves u0026 Surplus |
| C. | Current liabilities |
| D. | Provisions |
| Answer» B. Reserves u0026 Surplus | |
| 8169. |
Mr. A purchased a car on 1.6.10 for Rs.5,60,000 and incurred Rs.25,000 for registration.He paid Rs.10,000 for insurance and Rs.1,500 for petrol. What amount shouldbe debited to Car A/c. |
| A. | 5,60,000 |
| B. | 5,96,000 |
| C. | 5,95,000 |
| D. | 5,85,000 |
| Answer» D. 5,85,000 | |
| 8170. |
Whennshares are issued for purchase of assets, ____ is credited. |
| A. | Vendors A/c |
| B. | Assets A/c |
| C. | Share Capital A/c |
| D. | Bank A/c |
| Answer» D. Bank A/c | |
| 8171. |
Liability for billndiscounted is a______ |
| A. | Short term liability |
| B. | Long term liability |
| C. | Current liability |
| D. | Contingent liability |
| Answer» E. | |
| 8172. |
Anmachinery was sold for Rs.30,000 on credit. Innwhich subsidiary book this transaction shouldnbe recorded? |
| A. | Sales Book |
| B. | Cash Book |
| C. | Journal Proper |
| D. | No entry is required |
| Answer» D. No entry is required | |
| 8173. |
Anpartnership firm can raise its capital. |
| A. | By issue of cumulative preference shares |
| B. | By issue of participating preference shares |
| C. | By issue of Non – convertible preferenceshare |
| D. | None of the above. |
| Answer» E. | |
| 8174. |
P sold goods to Q for Rs. 2,00,000. Q paid cashRs.60,000,P allowed a discount of 2% on the balance. What is the amount of the bill drawn by P on Q. |
| A. | 1,96,000 |
| B. | 1,37,200 |
| C. | 1,40,000 |
| D. | 1,36,000 |
| Answer» C. 1,40,000 | |
| 8175. |
Thenrevenue for transaction of consignment salenis recognized. |
| A. | When goods are sold to customers byconsignee. |
| B. | When goods are sent to consignee |
| C. | When advance against delivery is receivedby consigno |
| D. | When consignorreceived the payment from consignee |
| Answer» B. When goods are sent to consignee | |
| 8176. |
Ifndepreciation is excess charged by Rs.500 and closingnstock is understated by Rs.500, the net profitnwill be _____ due to these errors |
| A. | Understated by Rs.500 |
| B. | Understated by Rs.1000 |
| C. | Overstated by Rs.1000 |
| D. | No effect |
| Answer» C. Overstated by Rs.1000 | |
| 8177. |
Debit notes issued are used to prepare _____ |
| A. | Sales Returns Book |
| B. | Purchase Returns Book |
| C. | Journal Proper |
| D. | Purchases Book |
| Answer» C. Journal Proper | |
| 8178. |
Rent due for the month of March will appear in the cash book _______ |
| A. | On the Receipts side |
| B. | On the payments side |
| C. | As Contra entry |
| D. | No where |
| Answer» E. | |
| 8179. |
Afternre-issue of forfeited shares, the profit remainingnin the Share forfeiture A/c is transferrednto_____ |
| A. | Profit u0026 Loss A/c |
| B. | Share CapitalA/c |
| C. | General Reserve A/c |
| D. | Capital Reserve A/c |
| Answer» E. | |
| 8180. |
If wages are paid for construction of business premises ______ A/c is credited and _____ A/c is debited. |
| A. | Wages, Cash |
| B. | Premises, Cash |
| C. | Cash, Wages |
| D. | Cash, Premises |
| Answer» E. | |
| 8181. |
Insurancenpremium paid by a firm on the life insurance policy of thenpartners will be ______ |
| A. | Debited to Capital A/c’s of partners |
| B. | Credited to Partners Capital A/c’s |
| C. | Debited to Profit and Loss A/c |
| D. | Credited to Profit and Loss A/c |
| Answer» D. Credited to Profit and Loss A/c | |
| 8182. |
If onenof the cars purchased by a car dealer is usednfor business purpose, instead of resale, then it should be recordednby_____ |
| A. | Dr Drawing A/c u0026 Cr Purchases A/c |
| B. | Dr Office Expenses A/c u0026 Cr Motor Car A/c |
| C. | Dr Motor Car A/c u0026 Cr Purchases A/c |
| D. | Dr Motor Car u0026 Cr Sales A/c |
| Answer» D. Dr Motor Car u0026 Cr Sales A/c | |
| 8183. |
5,000 units of goods costing Rs.40 each are consigned. Carriage inward Rs.25,000. Normal loss is 10%. nnnnnnCostnof each unit of goods is: |
| A. | 40 |
| B. | 45.50 |
| C. | 50 |
| D. | 50.50 |
| Answer» D. 50.50 | |
| 8184. |
Purchases Rs.90,000 Sales Rs.80,000 Profitu0026am |
| A. | 10,000 |
| B. | 20,000 |
| C. | 6,000 |
| D. | 26,000 |
| Answer» E. | |
| 8185. |
If assets of Rs.60,000 are purchased and shares of Rs.10 each are issued at a premium of 20%, the no. of shares to be issued is _____ |
| A. | 60,000 |
| B. | 50,000 |
| C. | 6,000 |
| D. | 5,000 |
| Answer» E. | |
| 8186. |
If a company issued 1,00,000 shares of Rs.10 each in consideration of net assets of Rs.12,00,000,an amount of Rs.2,00,000 is credited to _____ |
| A. | Capital Reserve A/c |
| B. | Good will A/c |
| C. | Revaluation A/c |
| D. | P u0026 L A/c |
| Answer» B. Good will A/c | |
| 8187. |
The use of praise to mock someone or something |
| A. | Sarcasm |
| B. | Parable |
| C. | Paradox |
| D. | Parody |
| Answer» B. Parable | |
| 8188. |
The vantage point from which the story is told |
| A. | Plot Line |
| B. | Conflict |
| C. | Point of View |
| D. | none |
| Answer» D. none | |
| 8189. |
literature that instructs or presents a moral or religious statement. |
| A. | Imagery |
| B. | Satire |
| C. | Didactic |
| D. | Diction |
| Answer» D. Diction | |
| 8190. |
Who among the following laid down the foundation of Rashtrakutas Empire? |
| A. | Dantidurga |
| B. | Dhruva |
| C. | Krishna |
| D. | Ashoka |
| Answer» B. Dhruva | |
| 8191. |
The first Muslim ruler in India was |
| A. | Qutbuddin Aibak |
| B. | Muhammad Ghori |
| C. | Muhammad-bin-Tughlaq |
| D. | Mahmud of Ghazni |
| Answer» C. Muhammad-bin-Tughlaq | |
| 8192. |
Al-beruni came to India with. |
| A. | Mahmud of Ghazni |
| B. | Muhammad-bin-Qasim |
| C. | Muhammad Ghori |
| D. | Timur |
| Answer» B. Muhammad-bin-Qasim | |
| 8193. |
A pattern or form that does not change. |
| A. | Anecdote |
| B. | Setting |
| C. | Metonymy |
| D. | Stereotype |
| Answer» E. | |
| 8194. |
Who laid down the foundation of first independent Turkish kingdom in India? |
| A. | Qutbuddin Aibak |
| B. | Mohammad Qasim |
| C. | Ghiayasuddin Tughlaq |
| D. | Akbar |
| Answer» B. Mohammad Qasim | |
| 8195. |
Which Muslim emperor was attracted by the beauty of Queen Padmini? |
| A. | Babar |
| B. | Humanyun |
| C. | Akbar |
| D. | Alauddin Khilji |
| Answer» E. | |
| 8196. |
Who among the following destroyed the group of forty nobles? |
| A. | Razia |
| B. | Balban |
| C. | Bahram Shah |
| D. | Iltutmish |
| Answer» C. Bahram Shah | |
| 8197. |
Kautilya was the Prime minster of which of the following Indian Rulers? |
| A. | Chandragupta Maurya |
| B. | Chandraguta |
| C. | Ashoka |
| D. | Harshavardhana |
| Answer» B. Chandraguta | |
| 8198. |
Who among the following earned the title of a “Liberator”? |
| A. | Chandragupta Vikramaditya |
| B. | Ashoka |
| C. | Chandragupta Maurya |
| D. | Alexander |
| Answer» D. Alexander | |
| 8199. |
Alexander died at |
| A. | Gedrosia |
| B. | Babylon |
| C. | Taxila |
| D. | Patala |
| Answer» C. Taxila | |
| 8200. |
Who was the founder of the Nanda dynasty? |
| A. | Mahapadma Nanda |
| B. | Dhana Nanda |
| C. | Ashoka Nanda |
| D. | None of these |
| Answer» B. Dhana Nanda | |