Accounting MCQ - English

Set 6 MCQ Questions and Answers

Home | Accounting | Set 6

Accounting Objective Questions and Answers Pdf Download: we provide mcq question of Accounting you can prepare lot of question in Accounting to test and learn MCQ Question in Study 2 Online

Page: 1/7

1) Errors are _____ mistakes

    Intentional
    Undetected
    Unintentional
    None of the above

Answer : C Discuss

2) Which error cannot be revealed on the preparation of trial balance?

    Wrong totalling of account
    Compensatory errors
    Error of commission
    Wrong balancing of an account

Answer : B Discuss

3) Parties to a bill of exchange are

    Drawer
    Drawee
    Payee
    All of the above

Answer : D Discuss

4) Accommodation bill is drawn

    To finance actual purchase or sale of goods
    To facilitate trade transmission
    To cater the fund requirements of both the parties
    None of the above

Answer : C Discuss

Free Online Test

Accounting Online Mock Test in English Set 6
25 Questions | 15 Minutes

Start Now



5) Rs.5000 spent on maintenance of computer is

    Deferred capital expenditure
    Capital expenditure
    Revenue expenditure
    None of the above

Answer : C Discuss

6) The assumption underlying the fixed installment method of depreciation is that of ____ of the asset over its useful life

    Equal usage
    Usage
    Charge
    None of the above

Answer : A Discuss

7) _____ will generally show a debit balance

    Bank loan
    Bad debts recovered
    Drawings
    Salary payable

Answer : C Discuss

8) Profit & Loss account is prepared for a period of one year by following

    Periodicity concept
    Business entity concept
    Accrual concept
    None of the above

Answer : A Discuss

9) Which of the following enhances the earning capacity of an asset?

    Reduction in operating costs
    Increase in working capacity of an asset
    Replacing damage parts of an asset
    Both 'b' and 'c'

Answer : D Discuss

10) Gross profit is equal to

    Opening stock + purchases - closing stock
    Net profit - expenses
    Sales - Closing stock + purchases
    Sales - Cost of goods sold

Answer : D Discuss

Jump to Pages:

1 2 3 4 5 6 7

Free Online Test

Accounting Online Mock Test in English Set 6
25 Questions | 15 Minutes

Start Now



MCQ Category