Fundamentals of Accounting MCQs
Getting started with Fundamentals of Accounting MCQs :
1. Question
When delcredere commission is allowed by consignor to consignee, then the amount of abnormal loss will be borne by:
Answer
2. Question
_________ is not utilized for redemption of preference shares
Answer
3. Question
Ram ltd. has issued 15% Debentures of Rs.20,00,000 at a Discount of 10% on 1 April, 2014. The company pays Interest half-yearly on June 30th & Dec 31th every year. On March 31, 2015, the amount shown as Interest accrued but not due is
Answer
4. Question
Disadvantage of redemption of preference shares by using divisible profits is________
Answer
5. Question
A company issued 2,000, 8% Debentures of Rs.100 each at par and redeemable at 20% premium after 5 years. The amount of loss to be transferred to Profit and Loss A/c each year will be________
Answer