Commerce MCQ Question and Answer
Commerce MCQ Question and Answer
131. A co-operative auditor starts his work of audit from—
- Account Books
- Payment Books
- Cash Book
- None of the above
133. Goods worth Rs. 2,000 were distributed to employees free of charge. The account to be debited is—
- Profit and Loss A/c
- Advertisement A/c
- Labour Welfare A/c
- Goods A/c
135. X Ltd. forfeited 20 shares of Rs. 10 each on which Rs. 6 per share were paid. If out of these shares, 8 shares were reissued to Ram as fully paid up on payment of Rs. 5•50 per share, the amount
that will remain standing to the credit of Share Forfeited A/c will be—
that will remain standing to the credit of Share Forfeited A/c will be—
- Rs. 48
- Rs. 72
- Rs. 84
- Rs. 120
136. Bonus Shares are issued to—
- Equity Shareholders
- Preference Shareholders
- Debenture Holders
- Secured Creditors
137. On an equity share of Rs. 100, the minimum amount payable on application under the law should be—
- Rs. 20
- Rs. 15
- Rs. 10
- Rs. 5
138. Share Premium received by a Company may be used for—
- Payment of dividend
- Payment of remuneration to management
- Issue of Bonus shares
- None of these
139. Garner Vs. Murray rule applies in case of—
- Admission of a partner
- Dissolution of a firm
- Retirement of a partner
- Death of a partner
140. When sale is Rs. 4,80,000, gross loss is 25% on cost, purchase is Rs. 3,50,000 and closing stock is Rs. 60,000, the stock in the beginning would be—
- Rs. 70,000
- Rs. 94,000
- Rs. 1,34,000
- Rs. 3,50,000