Business Accounting MCQs

R

Ranjeet • 25.13K Points
Instructor II

Q 11. The main object of cost accounting is:

(A) To record day to day transactions of the business
(B) To reveal managerial efficiency
(C) To ascertain true cost of products and services
(D) To determine tender price
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R

Rakesh Kumar • 19.20K Points
Tutor I

Q 12. The nature of financial accounting is:

(A) Historical
(B) Forward looking
(C) Analytical
(D) Social
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G

Gopal Sharma • 28.64K Points
Instructor II

Q 13. Identify which is wrong rule

(A) Nominal account- debit all expenses & losses
(B) Real account- credit what comes in
(C) Nominal account- credit all incomes & gains
(D) Personal account- debit the receiver
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S

Shiva Ram • 21.45K Points
Instructor III

Q 14. An accounting that deals with the accounting and reporting of information to management regarding the detail information is

(A) Financial accounting
(B) Management accounting
(C) Cost accounting
(D) Real Accounting
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P

Priyanka Tomar • 25.98K Points
Instructor II

Q 15. Double entry system is used in which type of accounting?

(A) Cost
(B) Financial
(C) Management
(D) All
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V

Vijay Sangwan • 19.12K Points
Tutor I

Q 16. Cost concept basically recognises ____.

(A) Fair Market value
(B) Historical cost
(C) Realisable value
(D) Replacement cost
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S

Shiva Ram • 21.45K Points
Instructor III

Q 17. Which of the following is a Real A/c?

(A) Building A/c
(B) Capital A/c
(C) Shyam A/c
(D) Rent A/c
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V

Vikash Gupta • 24.35K Points
Instructor III

Q 18. A trader calculated his profit as Rs.150000 on 31/03/2014. It is an

(A) Transaction
(B) Event
(C) Transaction as well as event
(D) Neither transaction nor event
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R

Rakesh Kumar • 19.20K Points
Tutor I

Q 19. For every debit there will be an equal credit according to

(A) Matching concept
(B) Cost concept
(C) Money measurement concept
(D) Dual aspect concept
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V

Vijay Sangwan • 19.12K Points
Tutor I

Q 20. The comparison of financial statement of one year with that of another is possible only when ------------- ---concept is followed

(A) Going concern
(B) Accrual
(C) Consistency
(D) Materiality
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