Top 150+ Solved Special Accounting MCQ Questions Answer
Q. Right shares are issued to ………………….. share holders
a. previou
b. existing
c. future
d. None of these
Q. Sale of right is a ………………….. receipt in case of right issue
a. Revenue
b. capital
c. deferred revenue
d. none of these
Q. Brokerage is ………… in the cost of investment in the books of Purchase of investment
a. Added
b. deducted
c. increased
d. subtracted
Q. Interest accrued up to the date of sale of investments addedto……………………………..Price.
a. Ex-interest
b. Cum-interest
c. inclusive interest
d. None of these
Q. The cost of right share is ……………………………
a. added to the cost of investment
b. no treatment is required
c. Subtracted from the cost of investments
d. None of the above
Q. Long term investments are carried at ………………………..
a. fair value
b. cost price
c. cost or market price which ever is less
d. market price
Q. Cost of investment includes ………….
a. purchase cost
b. brokerage paid
c. stamp duty paid
d. All of the above
Q. Short term investments are carried at …………………………………..
a. Fair price
b. cost price
c. cost or market price which ever is less
d. Market value
Q. The claim lodged by the business to insurance company on happening the event
a. Claim
b. Loss of claim
c. discharge
d. insurance claim
Q. The account prepared to find out the stock as on the date of fire …..
a. Trading a/c
b. Stock a/c
c. Memorandum trading a/c
d. loss of stock a/c
Q. The insurance claim due to loss of stock is reduced to the proportion that the policy value bears to the value of stock
a. Average clause
b. Minimum clause
c. Maximum clause
d. loss of profit clause
Q. The insurance policy is less than the value of stock
a. Double insurance
b. re –insurance
c. under insurance
d. over insurance
Q. The insurance indemnifies the insured any loss of profit arising from interruption of the normal activity
a. Loss of profit insurance
b. full insurance
c. total insurance
d. fire insurance