Accounting MCQs – Page 5

✅ A. 6441

Option A : 6441 Option B : 5431 Option C : 7654 Option D : 9876 Correct Answer : 6441 Read more

✅ C. 7150

Option A : 6441 Option B : 5431 Option C : 7150 Option D : 5876 Correct Answer : 7150 Read more

✅ B. Marshalling Balance Sheet

Option A : Dressing Balance Sheet Option B : Marshalling Balance Sheet Option C : Formatting Balance Sheet Option D : Make up of Balance Sheet Correct Answer : Marshalling Balance Sheet Read more

✅ C. 60,000

Option A : 50,000 Option B : 55,000 Option C : 60,000 Option D : 65,000 Correct Answer : 60,000 Read more

✅ C. 4th July,2018

Option A : 30th June,2018 Option B : 1st July,2018 Option C : 4th July,2018 Option D : 4th August,2018 Read More Details about this Mcq Correct Answer : 4th July,2018 Read more

✅ E. All of these

Option A : Income received in advance Option B : Stock Option C : Debtors Option D : Pre-paid expenses and Accrued income Correct Answer : All of these Read more

✅ B. At the time of closing the accounts

Option A : At the time of opening new books of account Option B : At the time of closing the accounts Option C : During the course of accounting period any time Option D : After certification of accounts Correct Answer : At the time of closing the accounts Read more

✅ C. Balance Sheet only

Option A : Trading A/c and Balance Sheet Option B : Profit and Loss A/c Option C : Balance Sheet only Option D : Trading A/c only Correct Answer : Balance Sheet only Read more

✅ A. Debts included in Sundry Debtors which are doubtful in nature

Option A : Debts included in Sundry Debtors which are doubtful in nature Option B : Uncalled liability on partly paid shares Option C : Claims against the company not acknowledged as debts Option D : Arrears of fixed cumulative dividend Read More Details about this Mcq Correct Answer : Debts included in Sundry Debtors which are doubtful in nature Read more

✅ C. On the liabilities side under current liabilities

Option A : On the assets side under current assets Option B : On the assets side under loans and advances Option C : On the liabilities side under current liabilities Option D : On the liabilities side under provisions Correct Answer : On the liabilities side under current liabilities Read more

✅ A. Balance Sheet discloses financial position of the business

Option A : Balance Sheet discloses financial position of the business Option B : A person who owes to the business is called Debtor Option C : Decrease in the value of the asset could decrease the value of a liability Option D : Assets are to be shown in the Balance Sheet at the realizable value Read More Details… Read more

✅ D. Financial position as on a particular date

Option A : Results of operations for a particular period Option B : Financial position during a particular period Option C : Profit earning capacity for a particular period Option D : Financial position as on a particular date Correct Answer : Financial position as on a particular date Read more

✅ E. All of these

Option A : Stock at the end of the financial year Option B : Stock at the beginning of the financial year Option C : Drawings Option D : Prepaid Rent & Interest received but not yet earned Correct Answer : All of these Read more

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Option A : Current assets Option B : Intangible assets Option C : Deferred revenue expenditure Option D : Not an asset Read More Details about this Mcq Correct Answer : Not an asset Read more

✅ C. Accounts Receivable

Option A : Trade mark Option B : Franchise Option C : Accounts Receivable Option D : Secret Profit Read More Details about this Mcq Correct Answer : Accounts Receivable Read more

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Option A : Prepaid expenses Option B : Trademark Option C : Discount on issue of shares Option D : Outstanding Salaries Read More Details about this Mcq Correct Answer : Outstanding Salaries Read more

✅ A. Business entity concept

Option A : Business entity concept Option B : Money measurement concept Option C : Going concern concept Option D : Matching concept Read More Details about this Mcq Correct Answer : Business entity concept Read more

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Option A : Profit and Loss Account Option B : Balance Sheet Option C : Funds Flow Statement Option D : Trial Balance Read More Details about this Mcq Correct Answer : Trial Balance Read more

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Option A : Credited to the Profit & Loss Account Option B : Debited to the Profit & Loss Account Option C : Shown on the liabilities side of the Balance Sheet Option D : Shown on the assets side of the Balance Sheet Read More Details about this Mcq Correct Answer : Shown on the assets side of the… Read more

✅ B. Vehicle

Option A : Stock Option B : Vehicle Option C : Fixed deposit in bank Option D : Both and Correct Answer : Both and above Read more