Common Size Statements MCQs with answers
Dear candidates you will find MCQ questions of 12th Class - Accountancy - Part 1: Not-for-Profit Organisation and Partnership Accounts | Chapter: Common Size Statements here. Learn these questions and prepare yourself for coming examinations. You can check the right answer of any question by clicking the option or by clicking view answer button.
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Q. Main objective of Common Size Balance Sheet is :
✅ Correct Answer: (B)
To present changes in assets and liabilities
Q. Which of the following is untrue :
✅ Correct Answer: (C)
Common size cash Flow Statement
Q. Main objective of Common Size Statment of Profit & Loss is :
✅ Correct Answer: (C)
To establish relationship between revenue from operations and other items of statement of Profit & Loss
Q. The objective of common size Statement of Profit & Loss is not to
✅ Correct Answer: (A)
Judge the relative financial soundness for different enterprises
Q. In a common size Statement of Profit & Loss, the amount of net revenue from operations is assumed to be equal to
✅ Correct Answer: (C)
100
Q. In a common size Balance Sheet, total liabilities are assumed to be equal to
✅ Correct Answer: (C)
100
Q. 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?
✅ Correct Answer: (C)
100, 120, 150, 200
Q. In the Statement of Profit & Loss of a Common Size Statement :
✅ Correct Answer: (A)
Figure of net revenue from operations is assumed to be equal to 100
Q. In the Balance Sheet of a Common Size Statement:
✅ Correct Answer: (C)
Figure of total assets is assumed to be 100
Q. 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?
✅ Correct Answer: (B)
40%
Q. 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?
✅ Correct Answer: (C)
28%
Q. 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?
✅ Correct Answer: (A)
27%
Q. 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?
✅ Correct Answer: (C)
55%
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