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:




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2. Question

_________ is not utilized for redemption of preference shares




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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




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4. Question

Disadvantage of redemption of preference shares by using divisible profits is________




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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________




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