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.Management Sciences
Category: Accounting Mcqs
Introduction capital by owner of business is recorded on which side of a cash book?
A. Receipts
B. Payments
C. Incomes
D. Expenditures
Which of the following is not a method of charging depreciation?
A. Straight line Method
B. Written down value Method
C. Discounted present value Method
D. Sum of digits Method
Which of the following statements is true with regard to written down value method of depreciation?
i. The rate at which the asset is written off reduces year after year
ii. The amount of depreciation provided reduces from year to year
iii. The rate of depreciation as well as the amount of depreciation reduce year after year
iv. The value of the asset gets reduced to zero over a period of time
A. Only (i) above
B. Only (ii) above
C. Both (i) and (ii) above
D. (i),(ii) and (iii) above
Cash discount is allowed on _______ repayment of debt.
A. Lump sum
B. Prompt
C. Actual
D. None of them
In support of business transaction, any written evidence is called ___________?
A. Discount
B. Voucher
C. Allowance
D. Price
Which of following best describes the increase in equity expands___________?
A. Business operations
B. cash outflows
C. Inflows of cash
D. Appropriation expenses
Net income equal to Revenues minus____________?
A. Gains
B. Depreciation
C. Expenses
D. Capital expenditures
During the accounting period, sales revenue is Rs. 25,000 and accounts receivable increases by Rs. 8,000. What will be the amount of cash received from customers for the period?
A. Rs. 33,000
B. Rs. 25,000
C. Rs. 17,000
D. Rs. 8,000
Which of the following relationships is/are false?
A. Net Profit = Gross Profit – Administration and Other expenses
B. Net Profit = Gross Profit + Administration expenses and Other expenses
C. Opening Stock + Purchases – Closing Stock = Cost of Sales
D. Both B. and C. above
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