11th class Principles of Accounting chapter 13 online mcq test with answers for I.Com part 1 Principles of Accounting chapter 13(Capital and Revenue)

Principles of accounting Icom Part 1 English Medium Chapter 13 Online Test

Sr. #	Questions	Answers Choice
1	Expenditure is a capital expenditure because	The amount involved is heavy It is the personal expenditure of the owner out of his capital It is intended to benefit the future period It is a recurring expenditure
2	An expenditure, which is temporarily increase the profit making capacity of the business is called	Deferred expenditure Capital expenditure Revenue expenditure Non-recurring expenditure
3	An expenditure, which is completely exhausted with in the current accounting period is known as	Deferred expenditure Revenue expenditure Future expenditure Non-recurring expenditure
4	Wages paid for the construction of building is an example of	Revenue expenditure Capital expenditure Recurring expenditure Short-term expenditure
5	An expenditure, which is incurred to increase to profit earning capacity of a business concern, is called	Deferred expenditure Current expenditure Capital expenditure Recurring expenditure
6	An expenditure, which is non-recurring and irregular is called	Capital expenditure Revenue expenditure Short-term expenditure Current expenditure
7	Transaction, having short-term effects are known as	Revenue transaction Capital transaction Non-monetary transaction Paper transaction
8	The transactions, the effect of which is not exhausted with in the current accounting year are called	Revenue transaction Capital transaction Current transaction Monetary transaction
9	It is the price of goods sold or services provided by a business to its customers	Asset Cost Capital Revenue
10	The amount invested by the owner in the business to produce revenue is known as	Income Asset Capital Liability

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