Commerce MCQ Questions and Answers
Quantitative Aptitude - Commerce MCQ Questions with Answers are essential for students preparing for commerce exams. Commerce MCQ Aptitude improves analytical skills and understanding of business mathematics, making it useful for CA, ICWA, and other commerce exams.
Commerce MCQ
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242 questions
111. Given- Purchases - Rs.50,000 Sales - Rs.90,000 Closing Stock - Rs.7,000 Manufacturing Exp. - Rs.5,000 Rate of gross profit - Rs.331 3% on cost What is the opening stock ?
- Rs. 20,000
- Rs. 19,500
- Rs. 22,500
- Rs. 25,000
112. A particular firm provided the following data for a year- Current Ratio 2•5 : 1 Liquid Ratio 1•5 : 1 Net Working Capital Rs. 3,00,000 What are the current assets and current liabilities of this firm, respectively ?
- Rs. 3,00,000 and Rs. 1,50,000
- Rs. 5,00,000 and Rs. 2,00,000
- Rs. 2,00,000 and Rs. 5,00,000
- Rs. 3,00,000 and Rs. 1,00,000
113. Depreciation is a process of which one of the following ?
- Valuation of assets
- Allocation of acquisition cost over the estimated useful life of the asset
- Allocation of realizable value over the estimated useful life of the asset
- Estimating the market value of the asset on the balance sheet date
114. 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-
- 60,000 : 20,000 : 20,000
- 80,000 : 20,000 : 20,000
- 50,000 : 20,000 : 25,000
- None of the above
115. At the time of dissolution the loss of the business, will be compensated first of all from-
- Capital
- Profits
- Personal resources of the partners
- Donations
116. Given : Depreciation on the basis of Fixed Instalment Method Rs. 2,000 p.a. Establishment expenses Rs. 5,000 Scrap value Rs. 1,000 Span of life 10 years The cost of assets will be-
- Rs. 20,000
- Rs. 16,000
- Rs. 12,000
- None of these
117. Given : Cost Rs. 1,00,000 Scrap Value Rs. 10,000 Span of Life 10 years Rate of depreciation 20% p.a. The amount of depreciation for the first year on the basis of diminishing balance method will be-
- Rs. 20,000
- Rs. 18,000
- Rs. 9,000
- Rs. 10,000
118. 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-20 List-II 1. Accounting for Earning per share 2. Accounting for intangible and fictitious assets 3. Accounting for fixed assets 4. Depreciation Accounting Codes :
- 1 2 3 4
- 3 2 1 4
- 1 3 2 4
- 4 3 2 1
119. Establishment expenses of a new machine will be debited to-
- Expenses Account
- Profit and Loss Account
- Machinery Account
- None of the above