69 + Mcqs in Financial Accounting 2 McqOptions

Explore topic-wise MCQs in Testing Subject.

Opening balance of debtors a/c is Rs 1,40,000. Credit sales is Rs 10,74,000 and closing balance of Debtors a/c is Rs 1,90,000. What is the amount of cash collection from the debtors?

The agreement among partners which set out the terms on which they had agreed to form a partnership is called:

In the absence of an agreement, Interest on loan advanced by the partner to the firm is allowed at the rate of:

Securities premium account is shown on the liabilities side of the balance sheet under the head:

If the opening balance of debtors is Rs 16,000 and closing balance is Rs 80,000, cash received from debtors is Rs 35,000 and bad debts is Rs 1,000, then what will be the amount of credit sales?

____________ account is prepared to adjust the loads included in the value of opening stock and closing stock.

H.O. has sent goods on invoice price worth Rs 2,40,000 which are 25% above cost price. What is the loading element?

________ means the price at which the goods can be purchased by the hirer for ready cash.

As per section 78 of the companies act, amount collected as premium on securities cannot be utilized for:

The adjusting entry for difference between the invoice price and cost price of goods are shown in ________

H.O. sent Rs 5000 as petty cash to branch during the year. Opening and closing balances of petty cash was Rs 1400 and Rs 400 respectively. Then petty expenses of the branch during the year will be ______

When Branch pays expenses for H.O. the following account is debited in the books of the branch _______

Goods sent by HO but not received by branch before the end of the year, by debiting it to goods in transit, which account should be credited?

Under debtors system which account is prepared by head office to calculate profit or loss of each branch:

Branch Trading &Profit & Loss A/c is only a _________ account not forming part of the full accounting system.

If shares are bought back out of free reserves then a sum equal to nominal value of the shares so bought back is transferred to:

HO sends goods to branch at invoice price after adding 25% on cost price, so profit would be ___ % of invoice price

Forfeiture of shares results in compulsory termination of ______ due to non-payment of allotment/call money

In case of Hire-Purchase the total sum payable by the hire-purchaser as per terms in order to complete the transactions is