Search
.Management Sciences
Category: Accounting Mcqs
Based on which of the following concepts, is Share Capital Account shown on the liabilities side of a Balance Sheet?
A. Business entity concept
B. Money measurement concept
C. Going concern concept
D. Matching concept
(more…)
Which of the following accounts appear(s) in the Balance Sheet of a business?
i. Stock at the end of the financial year
ii. Stock at the beginning of the financial year
iii. Drawings
iv. Prepaid Rent
v. Interest received but not yet earned
A. Only (i) above
B. Only (iii) above
C. Both (i)and (iii) above
D. (i), (iii), (iv) and (v) above
(more…)
Arrangement of Balance Sheet in a logical order is known as __________?
A. Dressing Balance Sheet
B. Marshalling Balance Sheet
C. Formatting Balance Sheet
D. Make up of Balance Sheet
Generally the term fund is used to mean the difference between?
A. Current assets and current liabilities
B. Profit and loss A/C and Balance sheet
C. Current assets and non-current liabilities
D. Current liabilities and non-current liabilities
An entry which is made on both sides of a cash book is called__________?
A. Cash entry
B. Contra entry
C. Payment entry
D. Compound entry
Purchase journal is kept to record_____________?
A. All purchases of goods
B. All credit purchases of goods
C. All credit purchases
D. None of these
Which of the following statements is incorrect regarding capital account?
A. Debit increases the capital account balance
B. Credit increases the capital account balance
C. Fresh capital increases the capital account balance
D. Net income increases the capital account balance
If the minimum stock level and average stock level of raw material are 4,000 and 9,000 units respectively, find out its reorder quantity.
A. 8,000 units
B. 11,000 units
C. 10,000 units
D. 9,000 units
Recent Comments