Accounting mcq questions and answers for competitive exams

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Accounting mcq questions and answers for competitive exams UPSC SSC , SSC CGL, SSC CHSL, upsc Civils , Entrance exams Online test practice online free Quiz, mock practice online
526.
Which is the Principle of Capital Structure?

a
Risk principle
b
Cost and control principle
c
Both (a) and (b)
d
None of the above

527.
Given, Ke = (DPS / MP) X 100, may be used in

a
calculating capital structure
b
calculating cost of equity capital
c
calculating dividend yield on equity share
d
all of the above

528.
Which of the following is not deferred revenue expenditure?

a
Preliminary expenses
b
Depreciation on fixed assets
c
Heavy advertisement expenditure
d
Expenses incurred in removing the business to more convenient premises

529.
Which one of the following is correct

a
Role of thumb for current ratio is 2: 1
b
Liquid ratio is also known as acid test ratio
c
A ratio is an arithmetical relationship of one number to another number
d
All of the above

530.
Accounting is generally understood as

a
Means of communication
b
Source of business information
c
Summarisation of business transactions
d
All of the above

531.
Tax audit is compulsory in case a person is carrying on business whose gross turnover/sales/receipts, as the case maybe, exceeds

a
Rs. 10 lakhs
b
Rs. 40 lakhs
c
Rs. 60 lakhs
d
Rs. 1 Crore

532.
An assessee has paid life insurance premium of Rs. 25,000 during the previous year for a policy of Rs. 1,00,000. He shall

a
Not be allowed deduction u/s 80C
b
Be allowed Deduction for the entire premium as per the provisions of section 80C
c
Be allowed Deduction u/s 80C to the extent of 20 % of the capital sum assured i.e.Rs. 20,000
d
None of the above

533.
The European Union has achieved all of the following except

a
disbanded all tariffs between its member countries
b
adopted a common fiscal policy for member nations
c
established a common system of agricultural price supports
d
levied common tariffs on products imported from non-members

534.
A difference between forward and futures contracts is that

a
futures contracts have negotiable delivery dates
b
futures contracts involve no brokerage fees or other transactions costs
c
forward contracts occur in a specific location - for example, the Chicago Mercantile Exchange
d
forward contracts can be tailored in amount and delivery date to the needs of importers or exporters

535.
SEBI guidelines require that bonus shares should not dilute the rights of the holders of debentures, convertible fully or partly. Bonus shares reserved to be issued at the time of conversion become pa

a
Right shares
b
Sweat equity shares
c
Deferred equity shares
d
Potential equity shares

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