Accounts MCQs


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Accounts Branch Quiz

1 / 25

The flexible budget amount is aided in to variable overhead flexible  budget  variance to calculate:-

2 / 25

Which of the following methods is not a practical way of realizing revenue?

3 / 25

All items of stock in trading   and profit  and  loss account  are to be  converted into cost price  if these are given at an :-

4 / 25

An asset must be _______ by the business to be shown as an asset in its “balance sheet”

5 / 25

What is equity?

6 / 25

Cash discount is provided on :-

7 / 25

Which of the following is true regarding closing entries?

8 / 25

Any form of accounting which enables a business to be conducted more efficiently can be regarded as ___ accounting.

9 / 25

Purchase of office equipment  for cash will be recorded  on _________ side of a cash book;-

10 / 25

___________ are the basis of the business's  financial accounting :-

11 / 25

Which is the closing balance of a ledger account:-

12 / 25

Branch accounting is  prepared to ascertain  profit and loss of the branch:-

13 / 25

Every banking company should  prepare a balance sheet  and profit and loss accounts  as on _____________ each year;-

14 / 25

A fire policy covers loss of  insured property:-

15 / 25

The following is (are) the type(s) of Journal

16 / 25

Leukemia is a disease of:-

17 / 25

In the bank reconciliation statement  the amount of outstanding  checks  is added to  ___________ balance of cash book:-

18 / 25

According to the money measurement concept, which transaction will be recorded in the books of the account?

19 / 25

Credit balance as per Cash Book mean_______?

20 / 25

Sales expenditure budget is prepared by estimating the expense(s) of

21 / 25

A memorandum  trading account is  to be prepared  to ascertained the  value of  stock on the date of fire:-

22 / 25

Cash purchases is recorded in which of the following specialized journals?

23 / 25

Total cost related  to work in process  inventory is divided  by total units of work done is used  to calculate:-

24 / 25

Collection  of account  receivable  will _______________ assets:-

25 / 25

The forth step in process  costing system is to:-

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