Commerce Dada

    Hello viewers, Today we are going to start MCQs on Fundamental of Partnership , I hope it will be helpful for your upcoming exam. (Part-1, From Question No. 01 to 20 )  MCQ on fundamental of partnership in english pdf Multiple Choice Questions for Financial accounting 1. The relation between persons who have agreed to share the profit of the business carried on by all or any one of them acting for all is called? (a) Partnership (b) Joint Stock Company (c) Limited liability company (d) Sole proprietorship Ans-(a) Partnership 2. The document sets out the terms on which partners agreed to form a partnership is called? (a) Partnership deed (b) Partnership agreement (c) Both a and b (d) None Ans- (c) Both a and b   3. The partnership form of business organization? (a) Is a separate legal entity (b) is a common form of organization (c) Enjoys an unlimited life (d) has limited liability Ans- (b) is a common form of organization   4. Which of the follo...

    Hello viewers, Today we are going to start MCQs on Book Keeping and Accounting , I hope it will be beneficial for your upcoming exam. (Part-5, From Question No. 81 to 100 )  81. Statement of changes in financial position shows: a) Sources and uses of funds    b) Assets and Liabilities c) Income and Expenses d) Losses and Gains   82. Which of the following statements is false? a) Accounting is the language of business. b) Accounting is as old as money itself. c) Accounting is a service function. d) Accounting involves only the recording of business transactions.   83. Which of the following statements are false? a) Accounting may be described as an information system which has its inputs, processing methods and outputs. b) Accounting records only those transactions and events which are of financial nature. c) Accounting is both art and science. d) Accounting means recording transactions and events, not their int...

   Hello viewers, Today we are going to start MCQs on Book Keeping and Accounting , I hope it will be beneficial for your upcoming exam. (Part-4, From Question No. 61 to 80 )  61. The use of management accounting is a) Compulsory  b) Optional c) Obligation    d) Statutory requirement   62. Financial account state the ………………… ..position of a concern. a) Financial b) Economic c) Non financial d) None of these   63. The word accounting can be classified in to: a) Financial accounting and management accounting b) Financial accounting and cost accounting c) Financial accounting, management accounting and cost accounting d) Cannot be classified   64. Amount brought in by proprietor should be credited to a) cash account  b) capital account   c) drawings account  d) creditors account   65. Which of the following is true for: - “ In accounts recording is done of_ _ _ _ _ ” a) only financia...

  Hello viewers, Today we are going to start MCQs on Book Keeping and Accounting , I hope it will be beneficial for your upcoming exam. (Part-3, From Question No. 41 to  60 )  41.The basic function of financial accounting is to a) Record all business transaction b) Interpret financial data c) Assist the management in performing function effectively  Ans- b) Interpret financial data 42. Management Accounting provides invaluable services to management in performing a) All management function  b) Interpret financial data c) Controlling function  d) None of these  Ans- a) All management function  43..Book keeping is mainly concerned with a) Recording of financial data relating to business operation b) Designing the systems in recording classifying,summarizing the recorded data c) Interpreting the data for internal and external users Ans-a) Recording of financial data relating to business operation   44.Accounting principles are generally bas...

   Hello viewers, Today we are going to start MCQs on Book Keeping and Accounting , I hope it will be beneficial for your upcoming exam. (Part-2 From Question No. 16 to 40  )  16.Management Accounting: (A) Is a clerical work (B) Is accounting for future (C) Is a recording technique of the management related transactions. (D) Is an analysis of past business activities Ans-(C) Is a recording technique of the management related transactions. 17. On 31st December, 2010 Ashok Ltd. purchased a machine from Mohan Ltd. for 1,75,000. This is   (A) A transaction (B) An event (C) Both a transaction as well as an event  (D) None of these  Ans- (A) A transaction 18. On 1st September Kashyap paid rent 2,000. Under which form it will be classified: (A) An event (B) an event and also as a transaction   (C) A transaction (D) Neither a transaction,nor An event  Ans- (C) A transaction 19. Recording business transactions in the b...

 Hello viewers, Today we are going to start MCQs on Book Keeping and Accounting , I hope it will be beneficial for your upcoming exam. (From Question No. 1 to  15)  1. To control the cost of production and distribution is the main field of: (A) Financial Accounting (B) Cost Accounting (C) Auditing (D) None of these Ans-(B) Cost Accounting 2. Double Entry means: (A) Entry for the two aspects of books (B) Entry at two dates (C) Entry in two aspects of transaction  (D) All of the above Ans-(C) Entry in two aspects of transaction  3.Accounting provides information on A. Cost and income for managers (B). Company's tax liability for a particular year C. Financial conditions of an institutions D. All of the above Ans-D. All of the above 4. The main objective of Book-keeping is: (A) Complete recording of transactions (B) Ascertainment of Financial effect on the business (C) Analysis and interpretation of data) (D) 'A' B' (Both 'A' and 'B...

  MCQs on Hire Purchase System Here, today we will proceed  from question no. 36 to  40 (MCQs on Hire Purchase System) lets start, 36- Transfer of creditors account will be posted in which side of creditors account A-Debit B-Credit C-Outside D-Inside Ans-A - debit 37-In the books of hirer, the the interest and depreciation account will be transferred to ___ A. Trading account.   B. P & L account.  C. P & L appropriation account.  D. Balance sheet Ans-B. P & L account. 38-In the books of hirer, when the asset is repossessed hire vendor account will be ____ हायरर के बुक में  एसेट रिपोस्सेड हो जाने पर वेंडर अकाउंट को किया जायेगा   A. debited   B. credited   C. rectified D. reversed Ans-A- Debited Notr- हायरर के बुक में  एसेट रिपोस्सेड हो जाने पर वेंडर अकाउंट को Debit किया जायेगा  Journal Entries will be  Hire Vendor A/C... Dr.    To Assets A/c 39- In the books of hire vendor...

MCQs on Hire Purchase System Here, today we will proceed  from question no. 21 to  35  (MCQs on Hire Purchase System) lets start, 21-  Under installment system the relationship between the buyer and seller is that of a --- इन्सटॉलमेंट सिस्टम के तहत क्रेता और विक्रेता के बीच संबंध एक का होता है  A-Buyer and seller B-Bailor and Bailee C-Pawner and Pawnee D-Debtor and Creditor Ans- D- Debtor and Credior 22-Under HPS, The risk of loss is born by -- HPS  के तहत, नुकसान का जोखिम किसके द्वारा पैदा होता है--- A-Buyer  B-Hire Vendor  C-Hirer D-Debtor Ans- B- Hire Vendor  23-Under Installment System the risk of loss is born by -- A-Buyer  B-Hire Vendor  C-Hirer D-Debtor Ans-A- Buyer  24-Under HPS who has the right of sell___  A-Buyer  B-Hire Vendor  C-Hirer D-Debtor Ans- B- Hire Vendor  Note - HPS के तहत किराया विक्रेता (Vendor) को बेचने का अधिकार है। 25-Under HPS , if installment is not paid the hire vendor have...

MCQs on Hire Purchase System Here, today we will proceed  from question no. 6 to 20  (MCQs on Hire Purchase System) lets start, 6- In the books of hire vendor, which account will be debited for hire sales ____ किराया विक्रेता की पुस्तकों में किराया बिक्री के लिए किस खातें से डेबिट किया जायेगा  A-Buyer  B-Hirer C-Hire Vendor  D-Debtor Ans- B - Hirer  7- Under hire purchase system, the retail price of articles is called ____ Hire Purchase System  के तहत, वस्तुओं के खुदरा मूल्य को कहा जाता है   A-MRP B-Wholesale Price C-Retail Price  D-Cash Price Ans- C- Retail Price        8-Under depreciation fund method depreciation is charged to ______ Depreciation fund method  के तहत Depreciation charge  की जाती है A-P/L Account B-Trading Account C-B/S D-P/L Appropriation Account Ans-A- P/L Account 9-  Under which method, a policy is taken for amount of the asset to be replaced__ किस System के तहत, Asset की  Amo...

MCQs on Hire Purchase System  1- Hire purchase system is governed by  किराया  क्रय पद्धति  किसके द्वारा नियंत्रित किया जाता है ? A- Sale of Goods Act B-Hire Purchase Act 1972 C- Installment Act D-Properties Registration Act   Ans-Hire Purchase Act 1972 2- The Depreciation on an asset purchased through hire purchase should be किराया खरीद के माध्यम से खरीदी गई परिसंपत्ति पर मूल्यह्रास होना चाहिए A- Should be straight line only B-Based on the cost price of the asset only C-Based on the total cost including interest  D-No Depreciation should be provide until the final payment is made. Ans  Based on the cost price of the asset only 3-Ownership of goods under hire purchase agreement is transferred at the time of  किराया खरीद समझौते के तहत माल का स्वामित्व किस समय हस्तांतरित किया जाता है?  A-Payment of down payment B-Payment of first installment C-Full and final payment of last installment Ans-Full and final payment of last installment 4-The a...