📒Accounting MCQs
Accounting MCQs
397 MCQs281
Depreciation Account appearing in the Trial Balance is shown in:
AProfit and Loss A/c
BTrading A/c
CDeducted from the concerned assets A/c
DShown on the liability side
282
Closing stock appearing in the Trial Balance is shown in:
ATrading A/c and Balance Sheet
BProfit and Loss A/c
CBalance Sheet only
DTrading A/c only
283
Closing entries are generally passed:
AAt the time of opening new books of account
BAt the time of closing the accounts
CDuring the course of accounting period any time
DAfter certification of accounts
284
Which of the following are current assets of a business?
ABoth (i) and (iv) above
BBoth (ii) and (iii) above
C(i),(ii) and (iii) above
D(ii),(iii),(iv) and (v) above
285
Which of the following is not a contingent liability?
ADebts included in Sundry Debtors which are doubtful in nature
Bmay be called up in the event of necessity, claims against the company not acknowledged as debts (c ) they may or may not turn out to be debts in future. Arrears of cumulative fixed dividend
CClaims against the company not acknowledged as debts
Dare contingent liabilities.
286
When bill discounted with the bank is dishonored?
Ais correct. All other options are incorrect.
BBills Receivable Account is credited in the books of drawer
CBank Account is debited in the books of drawer
287
A Bill of Exchange is drawn on 1st April, 2018 payable after 3 months. The due date of the bill is?
A30th June,2018
B1st July,2018
C4th July,2018
D4th August,2018 Bill drawn on 1st April, 2018 payable after 3 months. The due date is 1st April, 2018 + 3 months + 3 days of grace = 4th July, 2018
288
Find the value of opening stock from the following data. Purchases 1,50,000, Closing stock 30,000 Sales 2,20,000, Gross profit 40,000.
A50,000
B55,000
C60,000
D65,000
289
Arrangement of Balance Sheet in a logical order is known as __________?
ADressing Balance Sheet
BMarshalling Balance Sheet
CFormatting Balance Sheet
DMake up of Balance Sheet
290
From the following details what will be the partners commission? Net profit before charging partners commission 65,000. Partners commission 11% before charging such commission
A6441
B5431
C7150
D5876