📒Accounting MCQs
Accounting MCQs
397 MCQs341
Postdated checks are considered as__________?
ACash
BBank balance
CAccounts receivable
DCash reserve
342
Petty cash fund is supposed to be replenished?
AEvery day
BEvery half year
CEvery year
DAt the end of every accounting period
343
A credit balance in cash book indicates?
ABank balance
BCash at bank
CBank overdraft
DBank underdraft
344
The closing balance of petty cash book is considered as_________?
ALiability
BAsset
CExpenses
DIncome
345
Discount received is recorded on which of the following side of a cash book?
AReceipts
BPayments
CIncomes
DExpenditures
346
Cash book is prepared by____________?
ABank
BAccountant of business
CManager of a company
DBank’s cashier
347
The cost of obsolete inventory acquired several years ago, to be considered in a keep vs. disposal decision is an example of :
AUncontrollable cost
BSunk cost
CAvoidable cost
DOpportunity cost
348
Which of the following bases is not appropriate for apportionment of Transport department‘s cost ?
ACrane hours
BCrane value
CTruck Mileage
DTruck value
349
Consider the following data for a company during the month of June 2012 Budgeted hours 4,000 Standard hours for actual production 4,400 Maximum possible hours in the budget period 4,800 Actual hours 3,800 The activity ratio of the company during the month is
A111%
B120%
C95%
D117%
350
The total cost incurred in the operation of a business undertaking other than the cost of manufacturing and production is known as________?
ADirect cost
BVariable cost
CCommercial cost
DConversion cost