Accounting Practice MCQ Page 52

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: 4377   Rent owing at the end of the year amounted to
  1. nil
  2. RS. 50
  3. RS. 350
  4. RS. 400
Question: 4378   Rates owing at the end of the year amounted to
  1. nil
  2. RS. 30
  3. RS. 100
  4. RS. 130
Question: 4379   The amount owed to creditors for supplies of sweets at 31 December was
  1. RS. 30
  2. RS. 210
  3. RS. 420
  4. RS. 600
Question: 4381   The book value of fixed assets at 31st December amounted to
  1. RS. 20
  2. RS. 70
  3. RS.90
  4. RS. 110
Question: 4382   If the donations had been 'capitalized,' the accumulated fund at 31st December would have been
  1. RS. 700
  2. RS. 820
  3. RS. 1,520
  4. RS. 1,740
Question: 4383   If the donations had been 'capitalized,' the surplus would have been
  1. RS. 120
  2. RS. 700
  3. RS.820
  4. RS.1,520
Question: 4384   The current assets at 31st December amounted to
  1. RS. 1,000
  2. RS. 1,040
  3. RS. 1,070
  4. RS. 1,110
Question: 4386   The rate of turnover of stock is the
  1. total value of turnover
  2. average stock divide by the cost of sales
  3. number of times the average stock is sold
  4. average of the opening and closing stock
Question: 4389   The cost of goods sold is the
  1. average stock divided by the rate of turnover of stock
  2. average stock multiplied by the turnover
  3. rate of turnover of stock divided by the average stock
  4. average stock multiplied by the rate of turnover of stock
Question: 4392   which one of the following is most likely to have the lowest rate of stock turn?
  1. A super market
  2. A greengrocer
  3. A news agent
  4. A jeweler
Question: 4398   If a supermarket marks up its goods for resale by 10% on cost, the gross profit made on RS. 1,000 worth of purchased should be
  1. RS. 100
  2. RS. 900
  3. RS. 1,000
  4. RS. 1,100
Question: 4399   which one of the following is most likely to have the lowest rate of stock turn?
  1. A super market
  2. A greengrocer
  3. A news agent
  4. A jeweler

Answers to the questions of Accounting on this page

Following list gives the correct choice for the answer of the Accounting mcqs.
4377 . B       4378 . A       4379 . B       4381 . C       4382 . B       4383 . A       4384 . C       4386 . C       4389 . D       4392 . D       4398 . A       4399 . D      

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