Learn Class 12 Accountancy MCQ Questions of Common Size Statements with Answers are accessible here. Every one of the Multiple choice questions has been provided with arrangements and has been arranged dependents on the most up-to-date exam pattern as declared by CBSE in forthcoming board exams. This might help you to understand and check your insight about the parts. Each question has four choices followed by the right answer. Students are encouraged to follow the MCQ Questions with Answers for Class 12 Accountancy during their preparation.
Practicing from the Objective type Questions for Class 12 Accountancy assists you with being ready for the impending exams. You can discover the MCQ Questions Class 12 Accountancy of outrageous assistance in your method of preparation. MCQ Quiz Questions for Class 12 Accountancy will assist you with catching up on and understand the ideas exhaustively. Practicing from the Objective Questions for Class 12 Accountancy assists you with being ready for the forthcoming exams.
1. Main objective of Common Size statement is :
(A) To present the changes in various items
(B) To provide for a common base for comparison
(C) To establish relationship between various items
(D) All of the Above
2. Main objective of Common Size Balance Sheet is :
(A) To establish relationship between revenue from operations and other items of statement of profit & loss
(B) To present changes in assets and liabilities
(C) To present changes in various items of income and expenses
(D) All of the Above
3. Common Size Statements are prepared
(A) In the form of Ratios
(B) In the form of Percentages
(C) In both of the Above
(D) None of the Above
4. Which of the following is untrue :
(A) Common size Balance Sheet
(B) Common size Statement of Profit & Loss
(C) Common size cash Flow Statement
(D) None of the Above
5. Main objective of Common Size Statement of Profit & Loss is :
(A) To present changes in assets and liabilities
(B) To judge the financial soundness
(C) To establish relationship between revenue from operations and other items of statement of Profit & Loss
(D) All of the Above
6. In the Statement of Profit & Loss of a Common Size Statement :
(A) Figure of net revenue from operations is assumed to be equal to 100
(B) Figure of gross profit is assumed to be equal to 100
(C) Figure of net profit is assumed to be equal to 100
(D) Figure of assets is assumed to be equal to 100
7. In the Balance Sheet of a Common Size Statement:
(A) Figure of share capital is assumed to be 100
(B) Figure of current liabilities is assumed to be 100
(C) Figure of fixed assets is assumed to be 100
(D) Figure of total assets is assumed to be 100
8. Total assets of a firm are ₹20,00,000 and its fixed assets are ₹8,00,000. What will be the percentage of fixed assets on total assets?
(A) 60%
(B) 40%
(C) 29%
(D) 71%
9. If total assets of a firm are ₹8,20,000 and its fixed assets are ₹5,90,400, what will be the percentage of current assets on total assets?
(A) 42%
(B) 58%
(C) 28%
(D) 72%
10. If net revenue from operations of a firm are ₹1,20,000; cost of revenue from operations is ₹66,000 and operating expenses are ₹21,600, what will be the percentage of operating income on net revenue from operations?
(A) 55%
(B) 45%
(C) 73%
(D) 27%
11. Main objective of Trend Analysis is
(A) To make comparative study of the financial statements for a number of years
(B) To indicate the direction of movement
(C) To help in forecasts of various items
(D) All of the Above
12. What will be the trend percentage, if the Inventory of a firm is ?2,00,000; ?2,40,000; ?3,00,000 and ?4,00,000 respectively?
(A) 1, 1.2, 1.5,2
(B) 10, 12, 15,20
(C) 100, 120, 150, 200
(D) None of the Above
13. In a common size Balance Sheet, total liabilities are assumed to be equal to
(A) 1
(B) 10
(C) 100
(D) 1,000
14. In a common size Statement of Profit & Loss, the amount of net revenue from operations is assumed to be equal to
(A) 1
(B) 10
(C) 100
(D) 1,000
15. The objective of common size Statement of Profit & Loss is not to
(A) Present Changes in Various items of incomes and expenses
(B) Judge the cost items
(C) Establish relationship between revenue from operations and other items of statement of profit & loss
(D) Judge the relative financial soundness for different enterprises
