# Accountancy MCQs for Class 12 with Answers Chapter 13 Common Size Statements with Answer

Accounts MCQ Class 12 : Accountancy MCQs for Class 12 with Answers Chapter 13 “Common Size Statements“. Practicing CBSE RBSE and NCERT Accountancy MCQ Questions for Class 12 with Answers is one of the best ways to prepare for the CBSE Class 12 board exam.

Page Contents

Accounts MCQ Class 12 : Accountancy MCQs for Class 12 with Answers Chapter 13 “Common Size Statements“. Practicing CBSE RBSE and NCERT Accountancy MCQ Questions for Class 12 with Answers is one of the best ways to prepare for the CBSE Class 12 board exam.

## AAccountancy MCQs for Class 12 with Answers Chapter 13 Common Size Statements with Answer

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 : Accountancy MCQs for Class 12 with Answers Chapter 13
(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 Statment 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 : Accountancy MCQs for Class 12 with Answers Chapter 13
(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: Accountancy MCQs for Class 12 with Answers Chapter 13
(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. If net revenue from operations of a firm are ₹15,00,000; Gross Profit is ₹9,00,000 and operating expenses are ₹75,000, what will be percentage of operating income on net revenue from operations?
(A) 45%
(B) 55%
(C) 35%
(D) 65%

Answer: B | Accountancy MCQs for Class 12 with Answers Chapter 13

12. 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

13, 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

14. In a common size Balance Sheet, total liabilities are assumed to be equal to
(A) 1
(B) 10
(C) 100
(D) 1,000

15. 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