Commerce MCQ Questions and Answers

A co-operative auditor starts his work of audit from-

Accounting for research and development relates to-

Goods worth Rs. 2,000 were distributed to employees free of charge. The account to be debited is-

The maximum rate of underwriting commission on debentures is-

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-

 Bonus Shares are issued to-

On an equity share of Rs. 100, the minimum amount payable on application under the law should be-

Share Premium received by a Company may be used for-

Garner Vs. Murray rule applies in case of-

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-