Search
.Management Sciences
Category: Accounting Mcqs
Capital expenditure is an expenditure which
A. Benefits the current accounting period
B. Will benefit the next accounting period
C. Results in the acquisition of a permanent asset
D. Results in the acquisition of a current asset
Goods return to supplier are known as:__________?
A. Merchandise return
B. Purchase return
C. Return inwards
D. Sales return
Which of these is not an essential feature of a bill of exchange?
A. Unconditional
B. Certainty of amount
C. In writing
D. Amount to be paid in foreign currency
Tax deducted at source A/c appears in___________?
A. Assets side
B. Liability side
C. Profit & Loss A/c
D. Debited to Capital A/c
The Bank Reconciliation Statement is prepared?
A. To rectify the mistakes in the Cash Book
B. To arrive at the Bank Balance
C. To arrive at the Cash Balance
D. To bring out the reasons for the difference between the Balance as per Cash Book and the Balance as per Bank Statement
Which of the following statement is considered as the accountant’s snapshot of firm’s accounting value as of a particular date?
A. Income Statement
B. Balance Sheet
C. Cash Flow Statement
D. Retained Earning Statement
An income statement in which each item expressed as percentage of Sale?
A. Balance sheet
B. income statement
C. common size income statement
D. All of the Above
Credit balance as per Cash Book mean____________?
A. Surplus cash
B. Bank overdraft
C. Terms deposits with bank
D. None of these
Which of the following is the normal balance of a rent expense account?
A. Credit balance
B. Cash balance
C. Overdraft
D. Debit balance
Recent Comments