📒Accounting MCQs
Accounting MCQs
397 MCQs191
Payments received in advance from a customer for a contract can be__________?
AShown as a deduction from contract work-in-progress on asset side
BShown as a liability
CCredited to P&L A/c
DEither A or B above
192
Investment in own share A/c appears in____________?
AAsset side
BLiability side
CNetted from Capital
DProfit & Loss A/c
193
Tax deducted at source A/c appears in___________?
AAssets side
BLiability side
CProfit & Loss A/c
DDebited to Capital A/c
194
Cost of goods sold excludes___________?
AOpening Stock
BCarriage inward
CWages & Salary
DPostage & Stamps
195
When a person purchasing goods on credit he becomes a_________in the books of the seller?
ADebtor
BCreditor
CDefaulter
DOffender
196
A book wherein various accounts are opened is called____________?
ASubsidiary books
BJournal
CLedger
DTrial Balance
197
Posting is the process of____________?
APosting the letters in drop box
BPosting suitable person to a suitable job
CEntering in the ledger the information contained in the ledger
DAll the three
198
Goodwill A/c is a/an__________?
ANominal A/c
BTangible Asset
CIntangible Asset
DFictitious Asset
199
Which of the following is a Nominal A/c ?
AOutstanding Salary A/c
BRent A/c
CSBI A/c
DDebtors A/c
200
Which of the following is a representative Personal A/c?
AOutstanding Salary A/c
BRent A/c
CSBI A/c
DBad debts A/c