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.

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.

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

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

Answer: D


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

Answer: B


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

Answer: B


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

Answer: C


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

Answer: A


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

Answer: D


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%

Answer: B


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%

Answer: C


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%

Answer: D


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

Answer: D


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

Answer: C


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

Answer: C


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

Answer: C


16. 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

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

Accountancy MCQs for Class 12 Chapter Wise with Answers Pdf Download

MCQs for Class 12 Accountancy Chapter 1 Accounting for Partnership Firms — Fundamentals
MCQs for Class 12 Accountancy Chapter 2 Change in Profit Sharing Ratio among the Existing Partners
MCQs for Class 12 Accountancy Chapter 3 Admission of a Partner
MCQs for Class 12 Accountancy Chapter 4 Retirement or Death of a Partner
MCQs for Class 12 Accountancy Chapter 5 Dissolution of a Partnership Firm
MCQs for Class 12 Accountancy Chapter 6 Financial Statements of Not-for-Profit Organisations (N.P.O.)
MCQs for Class 12 Accountancy Chapter 7 Issue of Shares
MCQs for Class 12 Accountancy Chapter 8 Issue of Debentures
MCQs for Class 12 Accountancy Chapter 9 Redemption of Debentures
MCQs for Class 12 Accountancy Chapter 10 Financial Statements of Companies
MCQs for Class 12 Accountancy Chapter 11 Financial Statements Analysis
MCQs for Class 12 Accountancy Chapter 12 Comparative Statements
MCQs for Class 12 Accountancy Chapter 13 Common Size Statements
MCQs for Class 12 Accountancy Chapter 14 Accounting Ratios
MCQs for Class 12 Accountancy Chapter 15 Cash Flow Statement

Accountancy MCQs for Class 12 Chapter Wise with Answers Pdf Free Download will help you. Accountancy MCQs for Class 12 with Answers Chapter 13 Common Size Statements with Answer