Accounting MCQs

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 or

E: above

A: Balance Sheet

B: Directors report

C: Notes on account to Balance Sheet

D: Chairmans report

A: Cost price of asset

B: Market price

C: Cost+ Transport+ Installation expenses

D: Cost or market values whichever is less

A: Routine repair and maintenance

B: Misuse

C: Obsolescence

D: Wear and tear

A: Building

B: Land

C: Plant and Machinery

D: Office equipment

A: Inventory system

B: Survey system

C: Annuity system

D: Insurance

A: Debtors Account

B: Profit and Loss Account

C: Provision for Doubtful Debt Account

D: Either (b )or

E: above Read More About this Mcq

A: Debit Provision for Bad Debts A/c and credit Debtors A/c

B: Debit Debtors A/c and credit Provision for Bad Debts A/c

C: Debit Provision for Bad Debts A/c and credit Profit & Loss A/c

D: Debit Profit and Loss A/c and credit Provision for Bad Debts A/c.

A: Debtor

B: Creditor

C: Defaulter

D: Offender

A: Opening Stock

B: Carriage inward

C: Wages & Salary

D: Postage & Stamps