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:

2. Question

_________ is not utilized for redemption of preference shares

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

4. Question

Disadvantage of redemption of preference shares by using divisible profits is________

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________