Commerce · all questions

Accounting
practice.

Practice every MCQ with options. Use Show answers when you want the correct option and solution.

2,968

Questions

140/149

Page

Pick an option on a question to see the right answer and solution.

Q2781

. . . . . . . . debentures are secured by a charge on the assets of the company.

Select an option to see the answer and solution.

Q2782

Cash sales are recorded in:

Select an option to see the answer and solution.

Q2783

Purchase of Typewriter would result in . . . . . . . . of fund.

Select an option to see the answer and solution.

Q2784

Match List-I with List-II and select the correct answer using the options given below the lists:

List-I	List-II
a. Heavy amount of premium on redemption of preference shares	1. Capital expenditure
b. Excess of sale proceeds fixed assets over their original cost	2. Deferred revenue expenditure
c. Cost of installation of an old machine	3. Capital gain
d. Freight paid on purchase of raw material	4. Revenue of expenditure

Select an option to see the answer and solution.

Q2785

Which item is shown on the debit side of a trial balance?

Select an option to see the answer and solution.

Q2786

The method of current account usually employed by the banker is known as . . . . . . . .

Select an option to see the answer and solution.

Q2787

Loss on issue or discount on issue of debenture is a . . . . . . . . asset.

Select an option to see the answer and solution.

Q2788

The following information is provided by a cultural club:
Stock of sports goods : Rs. 20,000
Purchase of sports goods during the accounting period : Rs. 80,000
Sports goods sold as scrap : Rs. 500
Closing balance : Rs. 30,000
The amount to be charged to Income and Expenditure Accounts as sports goods consumed will be:

Select an option to see the answer and solution.

Q2789

An invoice of Rs. 560 is entered in the sales book as Rs. 650. The total of the debit side of the trial balance is Rs. 21,440. Assuming no other error what is the total of the credit side of the trial balance?

Select an option to see the answer and solution.

Q2790

Revenue is considered as being earned when:

Select an option to see the answer and solution.

Q2791

Any increase in the value of assets is . . . . . . . . to capital reduction.

Select an option to see the answer and solution.

Q2792

Which of the following is not shown on the liability side of a balance sheet of a company?

Select an option to see the answer and solution.

Q2793

Interest on capital is credited to . . . . . . . . account.

Select an option to see the answer and solution.

Q2794

Valuing the stock in trade at market price or cost price which is less is an example of the convention of:

Select an option to see the answer and solution.

Q2795

Which method of inventory valuation is most widely used in accounting?

Select an option to see the answer and solution.

Q2796

A manufacturing company spent the following amounts on the import and installation of machine:
1. Rs. 50,000 : Price of the machine
2. Rs. 5,000 : Freight
3. Rs. 1,050 : Insurance premium
4. Rs. 6,000 : Replacement of a part damaged intransit, not covered under the insurance policy
Based on the above data, capital expenditure would be:

Select an option to see the answer and solution.

Q2797

Purchase journal is kept to record . . . . . . . .

Select an option to see the answer and solution.

Q2798

Profit on sale of sinking fund investment is credited to . . . . . . . .

Select an option to see the answer and solution.

Q2799

Amount paid for acquiring goodwill is . . . . . . . .

Select an option to see the answer and solution.

Q2800

Any donation received for a specific purpose is a . . . . . . . .

Select an option to see the answer and solution.

Prev 138 139 140 141 142 Next