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. |
The software may also allow for graphical rendering of data, which is useful for carrying |
| A. | Enterprise Resource Planning software |
| B. | Spreadsheet software |
| C. | Pre-packaged accounting software |
| D. | Customised accounting packages |
| Answer» C. Pre-packaged accounting software | |
| 2. |
This is the kind of software which is specifically designed for meeting the requirements of |
| A. | Enterprise Resource Planning software |
| B. | Customised accounting packages |
| C. | Pre-packaged accounting software |
| D. | Spreadsheet software |
| Answer» C. Pre-packaged accounting software | |
| 3. |
It refers to the system of recording, organising, summarising, analysing, interpreting and |
| A. | Manual Accounting |
| B. | Computerised Accounting |
| C. | Auditing |
| D. | Human Resource Accounting |
| Answer» C. Auditing | |
| 4. |
Which among the following deals with generation of reports that are vital for management |
| A. | Costing sub system |
| B. | Pay Roll Accounting Sub system |
| C. | Budget Sub System |
| D. | Management Information System |
| Answer» E. | |
| 5. |
Subscription received during the year 50,000 Rs. Subscriptions outstanding at the end of |
| A. | Rs 48000 |
| B. | RS 64000 |
| C. | RS 52000 |
| D. | RS 36000 |
| Answer» D. RS 36000 | |
| 6. |
The Income and Expenditure Account includes all revenue expenses and income |
| A. | True |
| B. | False |
| C. | none |
| D. | all |
| Answer» B. False | |
| 7. |
An exclusive right given to an entity of individual or business firm to manufacture or sell |
| A. | Copyright |
| B. | Trade right |
| C. | Patent right |
| D. | all |
| Answer» D. all | |
| 8. |
A bundle of rights given by law to the creators of literary, artistic, dramatic, musical work |
| A. | Patent Rights |
| B. | Trade Rights |
| C. | Copyrights |
| D. | all |
| Answer» D. all | |
| 9. |
The excess amount which the firm can get on selling its assets over and above the saleable |
| A. | Surplus |
| B. | Super Profit |
| C. | Reserve |
| D. | Goodwill |
| Answer» E. | |
| 10. |
When there is no Goodwill Account in the books and goodwill is |
| A. | Partner’s Capital |
| B. | Goodwill |
| C. | Cash |
| D. | Reserve |
| Answer» C. Cash | |
| 11. |
An asset which does not have a physical form but has the potential to have a monetary |
| A. | Fictitious Asset |
| B. | Physical Asset |
| C. | Intangible Asset |
| D. | all |
| Answer» D. all | |
| 12. |
Goodwill is to be calculated at one and half year’ purchase of average profit of last 5 |
| A. | Rs 12000 |
| B. | Rs 10000 |
| C. | Rs 15000 |
| D. | None of the Above |
| Answer» B. Rs 10000 | |
| 13. |
The following statement stands true when intangible assets are compared to the current |
| A. | Useful life is short |
| B. | Useful life is moderate |
| C. | Useful life is long |
| D. | all |
| Answer» D. all | |
| 14. |
When there is a change in the current partners’ association that results in ending the existing |
| A. | Revaluation of Partnership |
| B. | Reconstitution of Partnership |
| C. | Realisation of Partnership |
| D. | None of the Above |
| Answer» C. Realisation of Partnership | |
| 15. |
From the profits of previous three years, Rs 150000, Rs 200000, and Rs250000/- the value |
| A. | Rs12,50,000/- |
| B. | Rs 7,50,000/- |
| C. | Rs10,00,000/- |
| D. | all |
| Answer» D. all | |
| 16. |
If the royalty is less than minimum rent , the balance of royalty account at the end of the |
| A. | Capital reserve account. |
| B. | Reserve capita account |
| C. | Profit and loss account |
| D. | None of the above |
| Answer» D. None of the above | |
| 17. |
The minimum rent can ……………………….be proportionately, if there is a stoppage |
| A. | Increase |
| B. | Decrease |
| C. | No change |
| D. | all |
| Answer» C. No change | |
| 18. |
The not for profit concerns prohibit the payment of any ………………………to their |
| A. | Dividend |
| B. | Loss |
| C. | Assets |
| D. | Expenditure |
| Answer» B. Loss | |
| 19. |
Subscriptions received in advance by a club are shown on……………..of the Balance |
| A. | Assets Side |
| B. | Liability Side |
| C. | Credit Side |
| D. | Debit Side |
| Answer» C. Credit Side | |
| 20. |
Under the average clause, the loss is suffered by both insurer and insured in the ratio of |
| A. | True |
| B. | False |
| C. | none |
| D. | all |
| Answer» B. False | |
| 21. |
Calculate units manufactured during the year; Units Sold – 500, Opening stock – 100; |
| A. | 500 |
| B. | 700 |
| C. | 550 |
| D. | 600 |
| Answer» E. | |
| 22. |
Ram want to install a computerised accounting system but his budget is low. Which |
| A. | Ready to use Software |
| B. | Customized Software |
| C. | Tailor-made Software |
| D. | He can buy any of above, all cost same |
| Answer» B. Customized Software | |
| 23. |
The total capital employed in the company is ₹8,00,000 a reasonable rate of return is 15% |
| A. | 82,00,000 |
| B. | 1200000 |
| C. | 7200000 |
| D. | 4200000 |
| Answer» D. 4200000 | |
| 24. |
The profits of the last three years is55000,50000,45000. Value of goodwill of 2 years |
| A. | 100000 |
| B. | 42000 |
| C. | 126000 |
| D. | None |
| Answer» B. 42000 | |
| 25. |
A firm earns ₹1,00,000. The normal rate of return is 10%. The assets of the company |
| A. | 2,00,000 |
| B. | 10000 |
| C. | 5000 |
| D. | 100000 |
| Answer» E. | |