Category: Accounting Mcqs

i. Income received in advance
ii. Stock
iii. Debtors
iv. Pre-paid expenses
v. Accrued income

A. Both (i) and (iv) above
B. Both (ii) and (iii) above
C. (i),(ii) and (iii) above
D. (ii),(iii),(iv) and (v) above

A. Debit Profit and Loss Account and deduct the provision from debtors
B. Credit Profit & Loss Account and deduct the provision from debtors
C. Credit Profit and Loss Account and add the provision to debtors
D. Debit Profit & Loss Account and add the provision to debtors

Read More About this Mcq

A. No flow
B. Sources
C. Uses
D. Gain

A. At the time of opening new books of account
B. At the time of closing the accounts
C. During the course of accounting period any time
D. After certification of accounts

A. The drawer of the bill
B. The person responsible for dishonour
C. The holder of the bill
D. The endorser of the bill
(more…)

A. 2,40,000
B. 2,10,000
C. 2,00,000
D. 1,80,000

A. Long life of assets
B. Value of assets
C. Intangible nature of assets
D. Future economic benefits