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.Management Sciences
Category: Accounting Mcqs
Which of the following is not depreciated?
A. Building
B. Land
C. Plant and Machinery
D. Office equipment
Which of the following is not an intangible asset?
A. Trade mark
B. Franchise
C. Accounts Receivable
D. Secret Profit
(more…)
Which column of a cash book will not have credit balance___________?
A. Bank column
B. Discount column
C. Cash column
D. None
Average Accounting Return is a measure of accounting profit relative to:
A. Book value
B. Intrinsic value
C. Cost
D. Market value
Which of these are not required in a promissory note?
A. Acceptance
B. Unconditional promise to pay
C. Properly stamped
D. Payment to be made legal currency
Postdated checks are considered as__________?
A. Cash
B. Bank balance
C. Accounts receivable
D. Cash reserve
Bank reconciliation statement is a part of_________?
A. Cash book
B. Trial balance
C. Auditors report
D. None of these
Which of the following is a capital expenditure?
A. Repair of plant and machinery
B. Salary paid to workers
C. Cost of stand by equipment
D. Annual whitewash of the office building
The main objective of providing depreciation is to?
A. Calculate the true profit
B. Show the true financial position in the Balance Sheet
C. Provide funds for replacement of fixed assets
D. Both A. and B. above
A sale of Rs. 50.000 to A was entered as a sale to B. This is an example of____________?
A. Error of omission
B. Error of commission
C. Compensating error
D. Error of principle
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