Accounting MCQs
Accounting MCQs Test Preparation | Latest 2025 Quiz FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, ETEA MCQs Test Questions.
Insurance prepaid is shown as:___________?
A: Current Asset
B: Current Liability
C: Fixed Asset
D: Income Read More Details about this Mcq
Current Asset
The compensation paid by the borrower of fund to lender, from the borrower point of the cost of borrowing fund is called?
A: Interest Rate
B: Required rate of return
C: Nominal interest rate
D: All of the above
Interest Rate
An income statement in which each item expressed as percentage of Sale?
A: Balance sheet
B: income statement
C: common size income statement
D: All of the Above
common size income statement
Short term Assets expected to be converted into cash within 1 year or less than?
A: Current Assets
B: Fixed Assets
C: Current Assets& current liabilities
D: All of the above
Current Assets
_________is the cost of converting raw material into finished products?
A: Prime cost
B: Explicit cost
C: Job order cost
D: Conversion cost
Conversion cost
Net sales equals, sales minus:
A: Return outwords
B: Return inwards
C: cost of goods sold
D: carriage on sales
Return inwards
LIFO stands for__________?
A: Lots in , Few out
B: Link input, Format Output
C: Last input, First Output
D: Last in, First Out
Last in, First Out
Which of the following statement is considered as the accountants snapshot of firms accounting value as of a particular date?
A: Income Statement
B: Balance Sheet
C: Cash Flow Statement
D: Retained Earning Statement
Balance Sheet
Period cost include which of the following ?
A: selling Expense
B: Direct labor
C: factory overhead
D: selling Expenses & administrative expenses
selling Expenses & administrative expenses
Which of the following form of business organization is least regulated?
A: Sole-proprietorship
B: General Partnership
C: Limited Partnership
D: Corporation
Sole-proprietorship