Accounting MCQs

1590 MCQs  (Page 159 of 159)

Attempt Accounting MCQs Quiz
Which of the following is not a deferred revenue expenditure?
A. Expenses in connection with issue of equity shares
B. Preoperative expenses
C. Heavy advertising expenses to introduce a new product
D. Legal expenses incurred in defending a suit for breach of contract to supply goods
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Which of the following enhances the earning capacity of an asset?
A. Increase in working capacity of an asset
B. Reduction in operating costs
C. Replacing damaged parts of an asset
D. Both a and c above
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Difference in Bank Balance as per Pass Book and Cash Book may arise on account of_____________?
A. Cheque issued but not presented
B. Cheque issued but dishonoured
C. Cheque deposited and credited by bank
D. Both a and b
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Which of the following statements is true with regard to written down value method of depreciation?i. The rate at which the asset is written off reduces year after year ii. The amount of depreciation provided reduces from year to year iii. The rate of depreciation as well as the amount of depreciation reduce year after year iv. The value of the asset gets reduced to zero over a period of time
A. Only (i) above
B. Only (ii) above
C. Both (i) and (ii) above
D. (i),(ii) and (iii) above
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Bad debts recovered account will be transferred to______________?
A. Debtor‘s account
B. Profit and loss account
C. Provision for doubtful debt account
D. Either b or c above
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Payments received in advance from a customer for a contract can be__________?
A. Shown as a deduction from contract work-in-progress on asset side
B. Shown as a liability
C. Credited to p&l a/c
D. Either a or b above
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Which’ of the following shows the details and results of the company’s profit related activities for a period of time?
A. Balance sheet
B. Statement of financial position
C. Income statement
D. Statement of cash flow
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Which audit is compulsory?
A. Internal audit
B. External audit
C. Statutory audit
D. Voluntary audit
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GRAMEEN BANK was founded by?
A. Muhammad yunus
B. Amartya sen
C. Mahbub ul haq
D. Fazle hasan abed
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The revenues and expenses of a company are displayed in which statement?
A. Balance sheet
B. Cash flow statement
C. Income statement
D. None of the above
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Word of the Day
10 Jul
Spur
a thing that prompts or encourages someone; an incentive.
اکسانے والی بات، آر،مہمیز

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