Top 10 Commerce MCQ for Accountant Exam

Top 10 Commerce MCQ for Accountant Exam

Top 10 Commerce MCQ for Commerce Assistant Accountant Quiz for All Competitive Exam UPPCL, UKSSSC Account Clerk, HPSSC (PGT Teacher, PGT Commerce, UGC NET/JRF, UKSSSC, DSSSB, CTET, PSU Accountant, IAS Exam, IBPS, SBI, PO/Clerk, LIC, RBI Assistant, LIC Assistant, IBPS Clerk, IBPS RRB Exams)


Check Your Performance

Commerce MCQ

  1. Preparation of consolidated Balance Sheet of Holding Co. and its subsidiary company as per
    a. As 11
    b. AS – 22
    c. AS 21
    d. AS – 23
  2. The share of outsiders in the Net Assets in subsidiary company is known as under :
    a. outsiders liability
    b. Assets
    c. subsidiary company’s liability
    d. Minority Interest
  3. Excess of cost of investment over paid-up value of the shares is considered as:
    a. Goodwill
    b. Capital Reserve
    c. Minority Interest
    d. None of the above
  4. Excess of paid-up value of the shares over cost of investment is considered as:
    a. Goodwill
    b. Capital Reserve
    c. Minority Interest
    d. None of the above
  5. Preparation of consolidated statements as per AS 21 is
    a. Optional
    b. Mandatory for listed Companies
    c. Mandatory for Pvt. Ltd.
    d. Companies Ltd. partnership
  6. Face value debentures of subsidiary co. held by Holding Company is deducted from :
    a. Debentures
    b. Cost of control
    c. Minority interest
    d. Debentures in consolidated balance sheet
  7. The Time interval between the date of acquisition of shares in subsidiary company and date of Balance Sheet of Holding Company is known as :
    a. Pre-acquisition period
    b. Post-acquisition period
    c. Pre-commencement period
    d. Pre-incorporation period.
  8. Which Exchange rate will be considered for conversion of share capital of subsidiary company.
    a. Opening Rate
    b. closing rate
    c. Average Rate
    d. Rate of which date share acquired (actual)
  9. A subsidiary company shall be excluded from consolidation when:
    a. Control is intended to be temporary
    b. transfer funds to the parent
    c. Always included for consolidation
    d. Both a and b
  10. The long term assets that have no physical existence but are rights that have value is known as
    A. Current assets
    B. Fixed assets
    C. Intangible assets
    D. Investments

👇 For Solution Click Here 👇


Mock Test

👉 Commecre MCQ – 8

👉 Commecre MCQ – 7

👉 Commecre MCQ – 6

Leave a Reply