Top 1000+ Solved Financial Accounting MCQ Questions Answer

From 61 to 75 of 1818

Q. In single entry system only accounts are opened:

a. Personal A/c

b. Real A/c

c. Nominal A/c

d. Real & Nominal A/c

  • a. Personal A/c

Q. Single entry system cannot be a maintained by:

a. Joint stock company

b. Partnership A/c

c. Sole-tradership A/c

d. All of these

  • a. Joint stock company

Q. Single entry system of book – keeping is generally followed by:

a. Small business

b. Non – trading

c. Large business

d. None

  • a. Small business

Q. A Statement of assets and liabilities prepared under the single entry system is called:

a. Balance sheet

b. Financial statement

c. Cash statement

d. Statement of affairs

  • d. Statement of affairs

Q. Net worth of an organization means the excess of its total assets over total:

a. Expenses

b. Incomes

c. Liabilities

d. Both (a) and (b)

  • c. Liabilities

Q. Which one of is most likely to have the lowest rate of stock turn:

a. Jeweler

b. Green grocer

c. Super market

d. News agent

  • a. Jeweler

Q. If a store’s mark up is 25% the margin must be:

a. 5%

b. 15%

c. 10%

d. 20%

  • d. 20%

Q. Bad -debts written off always affect the:

a. Debtors A/c

b. Creditor A/c

c. Cash A/c

d. None of these

  • a. Debtors A/c

Q. Company has ……………

a. Separate Legal Entity

b. Perpetual Existence

c. Limited Liability

d. All of the Above

  • d. All of the Above

Q. Shareholders are :

a. Customers of the Company

b. Owners of the Company

c. Creditors of the Company

d. None of these

  • b. Owners of the Company

Q. Who are the real owners of a company?

a. Government

b. Board of Directors

c. Equity shareholders

d. Debentureholders

  • c. Equity shareholders

Q. A Company is created by :

a. Special act of the Parliament

b. Companies Act

c. Investors

d. Members

  • b. Companies Act

Q. Equity shares cannot be issued for the purpose of:

a. Cash Receipts

b. Purchase of assets

c. Redemption of debentures

d. Distribution of dividend

  • d. Distribution of dividend

Q. The shares on which there is no any pre-fixed rate of dividend is decided, but the rate ofdividend is fluctuating every year according to the availability of profits, such share are called :

a. Equity Share

b. Non-cumulative preference share

c. Non-convertible preference share

d. Non-guaranteed preference share

  • a. Equity Share
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