Question # 1

The stock of manufacturing concern consists of

Choose an answer

work in process inventory

raw material inventory

finished goods inventory

all of the given option

Net profit + expenses =______

Choose an answer

Liabilities

assets

capital

income

Bank book is a part of :

Choose an answer

Voucher

General journal

General ledger

trail balance

A decrease in value of a fixed asset due to age wear and tear is known as

Choose an answer

depreciation

accumulated depreciation

administrative expenses

operating expenses

The total of all cost incurred to convert raw material into finished goods is known as :

Choose an answer

Prime cost

Conversion cost

Sunk cost

Which of the following account will be credited if business purchased a vehicle on cash?

Choose an answer

vehicle account

cash account

bank account

Which of the following essentials are shown in Bank book?1.Date of transaction ,2.Narration of transaction ,3.Cheque Number

Choose an answer

1,2

2,3

1,3

1,2,3

Accountancy cover which of the following series

Choose an answer

bookkeeping

accounting

auditing

all of the above

An asset that is not physical in nature is called ____

Choose an answer

intangible asset

liquid assets

current asset

If a business pays rent in 12 months mit will be treated as:

Choose an answer

Prepaid expenses of business

Long term liability of business

Fixed assets of business

The amount brought propritier in the business should be credited to

Choose an answer

cash account

capital account

drawing account

Bank reconciliation statement is :

Choose an answer

a memorandum statement

a ledger account

a part of cash book

a part of journal

Economic resource owned by a business and expected to benefit for the future operation are called :

Choose an answer

Expenses

Assets

Capital

Which of the following account balance will be shown on debit side of trial balance?

Choose an answer

Cash account

Furniture account

Motor account

all of the above

The main goal of bank reconciliation statement is:

Choose an answer

If the discrepancy is due to error rather than timing

If the discrepancy is due to timing rather than error

If the discrepancy is due to error rather than amount

If the discrepancy is due to amount rather than timing

Cash book is a part of

Choose an answer

Voucher

general ledger

general journal

Trail balance

Which of the following account will be credit,if business sold goods for Rs 10,000 on credit?

Choose an answer

Cash account

Sales account

account receivable account

purchase account

Which of the following is not depreciated?

Choose an answer

factory building

office equipment

Plant

Land

Which of the following financial statement summarizes the profitability of an organization for a particular period?

Choose an answer

Trade and profit & loss account

cash flow statement

balance sheet

Cost incurred for the maintenance of the shop is considered as

Choose an answer

Deferred expense

Capital expenses

Revenue expenses

Preliminary expenses

Depreciation arises because of :

Choose an answer

Fall in the market value of an asset

Fall in the value of money

Physical wear and tour

All of the above

More Classes

Other Links

MTH-501 Quiz Online Test MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer