Accounting Practice MCQ Page 37

Multiple Choice questions for Accounting in the sets of 10 each on one page with questions and answers. All sets are useful in the preparation of subject tests for employment or admission.
Question: 3848   If the purchases had been under cast by Rs. 10,000 the gross profit would be
  1. Rs. 31,500
  2. Rs. 41,500
  3. Rs. 51,500
  4. Rs. 61,500
Question: 3849   The cost of goods sold is
  1. Rs. 59,000
  2. Rs. 69,000
  3. Rs. 71,000
  4. Rs. 89,000
Question: 3850   Net profit as a percentage of net sales is approx i-mutely
  1. 5%
  2. 10%
  3. 15%
  4. 20%
Question: 3851   Expenses for the year total
  1. Rs. 29,000
  2. Rs. 30,000
  3. Rs. 31,000
  4. Rs. 32,000
Question: 3852   Abalance sheet is a
  1. statement of debtors and creditors
  2. statement of income and expenditure the year
  3. statement of cash received and paid throughout the year
  4. Financial staement of a business' wealth on a parti-cular scale
Question: 3853   which one of the following is fixed asset for a builder's merchant?
  1. Cash
  2. Stock
  3. Debtors
  4. Type wirer
Question: 3854   Which one of the following is garage's current asset?
  1. A breakdown van
  2. The managing director's private car
  3. The contenssa in the saleroom
  4. A customer's car in for repair
Question: 3855   Net current assets are the same as
  1. working capital
  2. total assets minus current liabilities
  3. fixed assets minus current liabilities
  4. capital minus current liabilities
Question: 3856   A proprietor's capital os
  1. opening capital plus drawing minus net profit
  2. total assets minus external liabilities
  3. current assets minus working capital
  4. opening capital plus net profit plus creditors
Question: 3857   which one of the following is usually a current liability?
  1. Mortgage
  2. Bank loar
  3. Bank over drat
  4. Rent Paid in advance
Question: 3858   The percentage return on the owner's opening capital for the past year was
  1. 15%
  2. 20%
  3. 25%
  4. 30%
Question: 3859   The working capital is
  1. Rs. 20,000
  2. Rs. 30,000
  3. Rs. 50,000
  4. Rs. 1,70,000

Answers to the questions of Accounting on this page

Following list gives the correct choice for the answer of the Accounting mcqs.
3848 . A       3849 . A       3850 . B       3851 . D       3852 . D       3853 . D       3854 . C       3855 . A       3856 . B       3857 . C       3858 . C       3859 . A      

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