Accounting MCQs
Accounting MCQs Test Preparation | Latest 2025 Quiz FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, ETEA MCQs Test Questions.
Consider the following data pertaining to the production of a company for a particular month :
A: Opening stock of raw material 11,570 Closing stock of raw material 10,380 Purchase of raw material during the month 1,28,450 Total manufacturing cost charged to product 3,39,165 Factory overheads are applied at the rate of 45% of direct labour cost. The amount of factory overheads applied to production is 65,025
B: 94,287
C: 95,020
D: 1,52,624
Opening stock of raw material 11,570 Closing stock of raw material 10,380 Purchase of raw material during the month 1,28,450 Total manufacturing cost charged to product 3,39,165 Factory overheads are applied at the rate of 45% of direct labour cost. The amount of factory overheads applied to production is 65,025
If the minimum stock level and average stock level of raw material are 4,000 and 9,000 units respectively, find out its reorder quantity.
A: 8,000 units
B: 11,000 units
C: 10,000 units
D: 9,000 units
10,000 units
When production is equal to sales, which of the following is TRUE?
A: No change occurs to inventories for either use absorption costing or variable costing methods
B: The use of absorption costing produces a higher net income than the use of variable costing
C: The use of absorption costing produces a lower net income than the use of variable costing
D: The use of absorption costing causes inventory value to increase more than they would though the use of variable costing
No change occurs to inventories for either use absorption costing or variable costing methods
A cash book that is used to record the small payments of cash is generally referred as_________?
A: Simple cash book
B: Two column cash book
C: Three column cash book
D: Petty cash book
Petty cash book
Drawings by owner of business are generally recorded on which of the following side of a cash book?
A: Receipts
B: Payments
C: Incomes
D: Expenditures
Payments
Payment of rent expenses is recorded on which side of cash book?
A: Receipts
B: Payments
C: Income
D: Expense
Payments
Cash discount is allowed on _______ repayment of debt.
A: Lump sum
B: Prompt
C: Actual
D: None of them
Prompt
Introduction capital by owner of business is recorded on which side of a cash book?
A: Receipts
B: Payments
C: Incomes
D: Expenditures
Receipts
A cash book with cash, bank and discount column is commonly referred as________?
A: Cash book
B: Two columns cash book
C: Three columns cash book
D: Petty cash book
Three columns cash book
The most common imprest system is the ________ system?
A: Petty cash
B: Cash book
C: Cash receipt
D: Discount
Petty cash