Accounting MCQs
Accounting MCQs Test Preparation | Latest 2021 Quiz FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, ETEA MCQs Test Questions.
Find the value of opening stock from the following data. Purchases 1,50,000, Closing stock 30,000 Sales 2,20,000, Gross profit 40,000.
A: 50,000
B: 55,000
C: 60,000
D: 65,000
60,000
A Bill of Exchange is drawn on 1st April, 2018 payable after 3 months. The due date of the bill is?
A: 30th June,2018
B: 1st July,2018
C: 4th July,2018
D: 4th August,2018 Read More Details about this Mcq
4th July,2018
Which of the following are current assets of a business?
A: Income received in advance
B: Stock
C: Debtors
D: Pre-paid expenses and Accrued income
E: All of these
All of these
Closing entries are generally passed:
A: At the time of opening new books of account
B: At the time of closing the accounts
C: During the course of accounting period any time
D: After certification of accounts
At the time of closing the accounts
Closing stock appearing in the Trial Balance is shown in:
A: Trading A/c and Balance Sheet
B: Profit and Loss A/c
C: Balance Sheet only
D: Trading A/c only
Balance Sheet only
Depreciation Account appearing in the Trial Balance is shown in:
A: Profit and Loss A/c
B: Trading A/c
C: Deducted from the concerned assets A/c
D: Shown on the liability side
Profit and Loss A/c
Profit on sale of old plant is:___________?
A: In Trading A/c
B: In Profit and Loss Appropriation A/c
C: Profit and Loss A/c
D: Being a non operating item ignored
Profit and Loss A/c
Carriage on goods purchased is shown in:___________?
A: Profit and Loss A/c
B: Capitalized with work in progress
C: Trading A/c
D: Shown in Balance Sheet
Trading A/c
Which of these is not an operating income?
A: Income from sale of trading goods
B: Bad debts recovered
C: Interest on FDs
D: None
Interest on FDs
Riaz holds an average inventory of 36,000(CP) with an inventory turnover of 5 times. If the firm makes a gross profit of 25% on sales, find the total sales of the company.
A: 2,40,000
B: 2,10,000
C: 2,00,000
D: 1,80,000
2,40,000