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Free Online MCQs for Class – 12 Accountancy Chapter 13 – Common size Statements

Free Online MCQs Questions of CBSE Class – 12 Accountancy Chapter 13 – Common size Statements with Answers. Free Online MCQs Questions for Class 12 Accountancy with Answers was Prepared Based on Latest Exam Pattern. Students can solve NCERT Class 12 Accountancy Class – 12 Accountancy Chapter 13 – Common size Statements Multiple Choice Questions with Answers to know their preparation level on Success Roar Classes Website itself.

Free Online MCQs for Class -12 Accountancy

Chapter 13 – Common size Statements with Answers

  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%

MCQs Questions of Class – 12 Accountancy Chapter 13 – Common size Statements

Answer Key

  1. (d)  2. b)   3. (b)     4. (c)   5. (c)    6. (a)    7. (d)    8. (b)    9. (c)   10.  (d)

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