Accounts MCQs


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Accounts Branch Quiz

1 / 25

What from the following is NOT a current asset?

2 / 25

The main source(s) of Generally Accepted Accounting Principles (GAAP) is/are:

3 / 25

In master budgeting, the cost drivers for  manufacturing  overhead  costs are:-

4 / 25

Double entry system was introduced in:-

5 / 25

The budget which specifies  an operating and financial plan, usually  for a fiscal  year or  any specific  period of time is classified as:-

6 / 25

Gross profit must always be calculated as a percentage  on purchases;-

7 / 25

A ____________ is a generally physical part of the business established  under the same roof;-

8 / 25

Assets having physical existence are called ___________?

9 / 25

Under the diminishing balance method , depreciation  is calculated on:-

10 / 25

In single entry system it's difficult to detect:-

11 / 25

What standards are used to prepare financial statements by most of the countries and companies

12 / 25

If credit sale  of a bank  account is greater  than the  debit side , it indicates ____________:-

13 / 25

Profit and losses can not be  ascertained because trading and profit  and loss account can not be prepared:-

14 / 25

At the balance sheet  date,  the balance on the accumulated provision  for depreciation account if   simply deducted  from an asset  in the balance sheet:-

15 / 25

The fifth step  in process  costing  system is to:-

16 / 25

The cash sales , accounts receivables and rental receipts  all are known as:-

17 / 25

Sale proceeds of fixed assets are a

18 / 25

Cash budget excludes the following:

19 / 25

Short term loans  can be described as;-

20 / 25

Working  capital finance can be termed as 'Running Finance' in a limited company;-

21 / 25

Long term assets  without  any physical  existence but , possessing  a value are called :-

22 / 25

______________ And will share  revenue equally  between the central and state:-

23 / 25

__________ checks are  presented to bank but not yet  credited by the bank;-

24 / 25

A large amount spent on special advertisement is–

25 / 25

The value of asset can be reduced to zero  under this method:-

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