Explore topic-wise MCQs in Finance & Accounting.

When Capital is increased by an amount, it is recorded on the:

Accounts Receivable & Inventory are the examples of:

Which of the following account balance will be shown on debit side of Trial Balance? (It is assumed that all account balancesare shown on normal balance).

Which one of the following is NOT true about Capital Expenditure?

Which one of the following is NOT true about revenue expenditure?

Which of the following asset is, generally, NOT depreciated?

If a business pays rent in advance for 12 months, it will be treated as:

Depreciable value of an asset is equal to:

A debit balance in the Bank Statement indicates:

Which of the following account will be credited when interest on capital is charged against the distribution of profit?

Which of the following account will be debited when the interest on drawings is charged?

In case of fixed capital accounts, other transactions such as Drawings and Profit etc. are recorded in
a separate account that is called

Which of the following can offer its share to general public at large?

The statement of changes in equity basically shows the movement of:

In which of the following interim dividend is treated?

Which of the following capital is required for the registration of the company? 

Which of the following can be utilized to set off any loss on revaluation? 

Which of the following is quoted company? 

Which of the following is NOT a financial statement? 

Credit sales appear on the __________ side of the Debtors control account.

Which of the following documents contains rules and regulations for internal management of the company? 

In which of the following interim dividend is treated? 

In which of the following auditor’s remuneration payable is shown?

Which of the following entry will be recorded, if a cheque deposited is dishonored by bank? 

In cost of goods sold statement the ‘cost of goods manufactured’ is equal to: 

Commercial Accounting is based on:

Which of the following is non- profit organization? 

Shares for which amount is paid by public are called ______ shares.

Which of the following can be distributed among the share holders?

According to the statement of cash flows following are the examples of investing activities except:

Which of the following financial statement is helpful for the investors and creditors to assess the cash and non cash aspects of operating, investing and financing transactions on an entity’s financial position?

All of the following have an effect on ‘operating activities’ while preparing the statement of cash flows except:

Which of the following capital is taken up by the general public?

Which of the following is an example of operating expense?

When closing stock is given in trial balance, then it will effect:

Which of the following will be debited, if cash is drawn by Proprietor?

Goods of Rs.1,000 purchased from Mr. “A” were recorded in sales book, the rectification of this error will:

Which of the following entry will be recorded when the Bad Debts are recovered?

The allocation of the cost of a tangible plant asset to expense in the periods, in which services are received from the asset, is termed as:

Which of the following subsidiary book(s) is (are) maintained for debtors control account?

Which of the following account will be credited when a typewriter is sold that has been used in the office?

Which of the following is NOT a function of bank reconciliation statement?

Interest on loan paid by business is an example of :

Which of the following account will be credited, if business bought goods on credit from Mr. Z

The unfavorable balance of Profit and Loss account should be:

What type of expenses are paid out of Gross Profit?

When Capital is increased by an amount, it is recorded on the:

A Master Budget consists of

Budgeting is difficult to apply in the following cases

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