Accounting MCQs
Accounting MCQs Test Preparation | Latest 2025 Quiz FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, ETEA MCQs Test Questions.
Which of the following is not a cause of difference in balance as per cash book and balance as per bank pass book___________?
A: Errors in cash book
B: Errors in pass book
C: Cheques deposited and cleared
D: Cheques issued but not presented for payment
Cheques deposited and cleared
Provision is created for____________?
A: Unknown Liabilities
B: Known Liabilities
C: Creation of Secret Reserves
D: All the Three
Known Liabilities
Which of the following is not a method of charging depreciation?
A: Straight line Method
B: Written down value Method
C: Discounted present value Method
D: Sum of digits Method
Discounted present value Method
A second hand car is purchased for 2,00,000 and sold at 1,40,000 after two years. If depreciation is charged @ 10% on SLM method, find the profit or loss on sale of the car?
A: 20,000 Loss
B: 20,000 Profit
C: 10,000 Loss
D: 10,000 Profit
20,000 Loss
A second hand car is purchased for 2,00,000 and sold at 1,40,000 after two years. If depreciation is charged @ 10% on written down value method, find the profit or loss on sale of the Second hand car?
A: Loss of 20,000
B: Loss of 22,000
C: Loss of 11,000
D: Profit of 11,000
Loss of 22,000
Which of the following is true with respect to providing depreciation under diminishing balance method?
A: The amount of depreciation keeps increasing every year while the rate of depreciation keeps decreasing
B: The amount of depreciation and the rate of depreciation decrease every year
C: The amount of depreciation decreases while the rate of depreciation remains the same
D: The amount of depreciation and the rate of depreciation increases every year
The amount of depreciation decreases while the rate of depreciation remains the same
The Bank Reconciliation Statement is prepared?
A: To rectify the mistakes in the Cash Book
B: To arrive at the Bank Balance
C: To arrive at the Cash Balance
D: To bring out the reasons for the difference between the Balance as per Cash Book and the Balance as per Bank Statement
To bring out the reasons for the difference between the Balance as per Cash Book and the Balance as per Bank Statement
Bank reconciliation is a statement prepared to reconcile__________?
A: Trial balance
B: Cash book
C: Bank A/c
D: Cash as per cash book with bank balance as per bank pass book
Cash as per cash book with bank balance as per bank pass book
Bank reconciliation statement is a part of_________?
A: Cash book
B: Trial balance
C: Auditors report
D: None of these
Cash book
Benefits of preparing Bank Reconciliation Statement includes___________?
A: It bring out any errors committed in preparation of Cash book / Bank Pass Book
B: Highlights under delay in clearance of cheques deposited but not credited
C: Help know actual bank balance
D: All the three
All the three