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Principles of accounting Icom Part 1 English Medium Chapter 10 Online Test MCQs With Answers

Question # 1

Deprecation is

Choose an answer

A Liability

A loss

An expense

Both b & c

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Question # 2

All those expenses which have not become due but paid in advance are called

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Accrued expenses

Outstanding expenses

Prepaid expenses

Payable expenses

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Question # 3

All those expenses which have become due but not paid are called

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Accrued revenue

Prapaid revenue

Outstanding expenses

Advance expenses

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Question # 4

The revenue that has not become due, but received in cash in current year is known as

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Revenue received in advance

Accrued revenue

Unearned revenue

Both a & c

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Question # 5

Bad debts recovered from debtors should be credited to

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Debtors a/c

Bad debts a/c

Bad debts recovered a/c

Cash a/c

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Question # 6

An income which has earned but not received is called

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Unearned income

Accrued revenue

Revenue received in advance

None of these

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Question # 7

The system of accounting in which accounting entries are made only when cash received or paid is known as

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Cash system

Accrual system

Mercantile system

Single system

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Question # 8

The accrued income or outstanding income will appear in the balance sheet as

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An expense

A liability

An asset

Both a & b

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Question # 9

The debts, which are irrecoverable from the debtors, are called

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Debts

Doubtful debts

Bad debts

Good debts

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Question # 10

The debts, the recovery or realization of which is uncertain are known as

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Bad bets

Doubtful debts

Provision for doubtful debts

Loan

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Question # 11

Interest on drawings is

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An asset

A liability

An expense

A revenue

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