MBA/MBA Accounting MCQ Question Set 8 Sample Test,Sample questions

Question:
A bill of exchange payable after a certain period is known as ______________ bill.

1.Time

2.accommodation

3.revenue

4.Dishonored


Question:
A bill which is not an inland bill is a ______________ bill.

1.Outwar

2.inwar

3.Foreig

4.Ne


Question:
A Cheque received and paid into the bank on the same day id recorded in the ______

1.a. cash column of the cash book

2.a. bank column of the cash book

3.a. both the cash and bank columns of the book

4.a. the credit balance as per pass book


Question:
A gross profit is transferred to the ______________side of the profit and loss account.

1.Debit

2.Credit

3.Current

4.Asset


Question:
A sale of goods to vidhya for cash should be debited to ______________.

1.Vidhya account

2.Cash account

3.Sale of goods account

4.Purchases account


Question:
Accounts receivable includes ________

1.sundry debtors

2.bill receivable

3.promissory note

4.All of the above


Question:
Amount paid for acquiring goodwill is _______

1.revenue expenditure

2.deferred revenue expenditure

3.capital expenditure

4.deferred capital expenditure


Question:
An example of revenue expenditure is ______

1.Purchase of land

2.Salaries

3.Lease

4.Purchase of buildings


Question:
Any profit on the sale of furniture of a cricket club will be taken to ______

1.income and expenditure account

2.cash account

3.profit and loss account

4.furniture account


Question:
Any revenue expense for when a separate fund is available will be _________

1.debited to the separate fund

2.debited to income and expenditure account

3.capital issued and shown in the balance sheet

4.credited to the separate fund


Question:
At the time of endorsement of a bill, the drawer credits ______

1.the .drawee

2.endorsees personal account

3.bills receivable account

4.bills for collection account


Question:
Average due date can be called as _______

1.mean due date

2.median due date

3.mode due date

4.zero date


Question:
Bank reconciliation statement is prepared by the _______

1.bank

2.creditors of a business

3.customer of a bank

4.Suppliers


Question:
Bank Reconciliation statement is _________

1.ledger account

2.part of the cash book

3.separate statement

4.a sub division of the journal


Question:
Bills payable book is a ________

1.subsidiar

2.a. principal book

3.a. ledger

4.a. memorandum book


Question:
Bills payable book is a ___________

1.subsidiary book

2.principal book

3.ledger

4.memorandum book


Question:
Depreciation is provided on ______________

1.working capita

2.current asset

3.fixed asset

4.intangible assets


Question:
Donations received by a non-profit organisation are usually a ______

1.revenue receipt

2.capital receipt

3.capital expenditure

4.revenue expenditure


Question:
Donations received for a special purpose will be taken to _____

1.income and expenditure account.

2.asset side of the balance sheet.

3.liabilities side of the balance sheet.

4.debit side of the ledger.


Question:
Errors of carry forward from one year to another year affect ________

1.personal account

2.real account

3.nominal account

4.both personal and real account


Question:
Errors which affect one side of an account are called ______

1.single sided errors

2.double sided errors

3.triple sided errors

4.a. compensation error


Question:
Expenditure incurred by a publisher for acquiring copyrights is a ________

1.capital expenditure

2.reserve expenditure

3.deferred reserve expenditure

4.capital receipts


Question:
Goodwill account is related to _______

1.Nominal account

2.Personal account

3.Real account

4.Tangible account


Question:
If payment is made on the average due date it results in ______

1.loss of interest to the creditor

2.loss of interest to the debtor

3.no loss of interest to either of them

4.loss of interest to both the creditor and debtor


Question:
In a receipts and payments account the payments are recorded on the ______________ side.

1.credit

2.debit

3.Upper

4.Lower


Question:
In accounting the benefit receiving aspect is said to be

1.Debi

2.Credi

3.Debit and Credi

4.None of these


Question:
Interest received on special fund investments will be added to ______________ fund in the balance sheet.

1.investment fund

2.bank fund

3.General

4.Special


Question:
Payment of compensation to a worker who has been discharged from service is a ___________

1.capital expenditure

2.revenue expenditure

3.deferred revenue expenditure

4.partly capital expenditure


Question:
Petty cash may be used to pay __________

1.the expenses relating to postage and conveyance

2.salaries and wages to the final staff

3.for the purchase of furniture and fittings

4.other recurring expense


Question:
Purchase journal is kept to record _______

1.cash sales

2.credit sales of assets

3.credit sales of goods

4.credit purchase


Question:
Purchases for office furniture on account is recorded in _________

1.general journal

2.cash book

3.purchases book

4.sales book


Question:
Receipts and payment account record receipt and payments of _______

1.revenue nature only

2.capital nature only

3.both revenue and capital nature

4.capital receipts


Question:
Subscription received in advance by a club is shown on the ______________ side of the balance sheet.

1.Liabilities

2.Assets

3.credit

4.debit


Question:
Summary of all balances is known as

1.Ledge

2.Journa

3.Subsidiary book

4.Trial balance.


Question:
The cash book records _______

1.all cash payments

2.all cash receipts

3.all cash receipts and payments

4.only credit payments


Question:
The credit balance of bank account indicates _______

1.amount payable by the bank

2.amount payable to the bank

3.cash at bank

4.loan from bank


Question:
The distinction between capital and revenue is necessary for the preparation of ______

1.fund flow statement

2.receipts and payment account

3.final accounts

4.cash flow statement


Question:
The excess of current assets over current liabilities is called ________

1.Net tangible worth

2.Networth

3.Gross working capital

4.Net working capital


Question:
The following items are shown in profit and loss appropriation account _________

1.Dividend declared

2.Discount on issue of shares

3.Non-operating expenses

4.Current assets


Question:
The information for the preparation of receipt and payments account is taken from _____

1.cash book

2.income and expenditure

3.cash book and balance sheet

4.revenue account


Question:
The main purpose of this ______________ accounting is to ascertain profit or loss during a specific period, to show financial position of the business.

1.financial accounting

2.cost accounting

3.management account

4.human resource accounting


Question:
The person upon whom the bill of exchange is drawn is called _______

1.Drawer

2.Drawer

3.Payee

4.Maker


Question:
The prime function of accounting is to _______

1.record economic data

2.provide the informational basis for action

3.classifying and recording business transactions

4.attain non-economic goals


Question:
The statement sent along with purchase return is ________

1.credit note

2.bills payable book

3.debit note

4.purchases return book


Question:
The system of recording transactions based on dual aspect concept is called ______

1.double account system

2.double entry system

3.single entry system

4.single account system


Question:
Trading account is prepared to find out _______

1.gross profit or loss

2.net profit or loss

3.financial position

4.position of the partners


Question:
Wages paid to workers must be debited to ______________ account

1.Wages

2.Machinery

3.Factory expenses

4.Offices expenses


Question:
When furniture is sold for cash, the entry should be made in _______

1.sales book

2.cash book

3.Journal.

4.petty cash book.


Question:
Which one of the following is Current Asset ______

1.Buildi

2.Furniture

3.Sto

4.Investment


Question:
______ is allowed to encourage early cash payment.

1.Cash discount

2.Trade discount

3.Quantity discount

4.Price discount


More MCQS

  1. MBA Accounting MCQ Question Set 1
  2. MBA Accounting MCQ Question Set 2
  3. MBA Accounting MCQ Question Set 3
  4. MBA Accounting MCQ Question Set 4
  5. MBA Accounting MCQ Question Set 5
  6. MBA Accounting MCQ Question Set 6
  7. MBA Accounting MCQ Question Set 7
  8. MBA Accounting MCQ Question Set 8
  9. MBA Accounting MCQ Question Set 9
  10. MBA Accounting MCQ Question Set 10
  11. MBA Advertising and Sales Promotion Mcq Set 1
  12. MBA Advertising and Sales Promotion Mcq Set 2
  13. MBA Advertising and Sales Promotion Mcq Set 3
  14. MBA Advertising and Sales Promotion Mcq Set 4
  15. MBA Advertising and Sales Promotion Mcq Set 5
  16. MBA Advertising and Sales Promotion Mcq Set 6
  17. MBA Advertising and Sales Promotion Mcq Set 7
  18. MBA Advertising and Sales Promotion Mcq Set 8
  19. MBA Advertising and Sales Promotion Mcq Set 9
  20. MBA Advertising and Sales Promotion Mcq Set 10
  21. MBA Advertising and Sales Promotion Mcq Set 11
  22. MBA Advertising and Sales Promotion Mcq Set 12
  23. MBA Advertising and Sales Promotion Mcq Set 13
  24. MBA Behavioural and Allied Sciences MCQ Set 1
  25. MBA Behavioural and Allied Sciences MCQ Set 2
  26. MBA Behavioural and Allied Sciences MCQ Set 3
  27. MBA Behavioural and Allied Sciences MCQ Set 4
  28. MBA Behavioural and Allied Sciences MCQ Set 5
  29. MBA Behavioural and Allied Sciences MCQ Set 6
  30. MBA Behavioural and Allied Sciences MCQ Set 7
  31. MBA Behavioural and Allied Sciences MCQ Set 8
  32. MBA Behavioural and Allied Sciences MCQ Set 9
  33. MBA Behavioural and Allied Sciences MCQ Set 10
  34. MBA Brand Management MCQ Set 1
  35. MBA Brand Management MCQ Set 2
  36. MBA Brand Management MCQ Set 3
  37. MBA Brand Management MCQ Set 4
  38. MBA Brand Management MCQ Set 5
  39. MBA Business Communication MCQ Set 1
  40. MBA Business Communication MCQ Set 2
  41. MBA Business Communication MCQ Set 3
  42. MBA Business Communication MCQ Set 4
  43. MBA Business Communication MCQ Set 5
  44. MBA Business Communication MCQ Set 6
  45. MBA Business Communication MCQ Set 7
  46. MBA Business Communication MCQ Set 8
  47. MBA Business Communication MCQ Set 9
  48. MBA Brand Management MCQ Set 10
  49. MBA Brand Management MCQ Set 11
  50. MBA Business Economics MCQ Set 1
  51. MBA Business Economics MCQ Set 2
  52. MBA Business Economics MCQ Set 3
  53. MBA Business Economics MCQ Set 4
  54. MBA Business Economics MCQ Set 5
  55. MBA Business Economics MCQ Set 6
  56. MBA Business Environment MCQ Set 1
  57. MBA Business Environment MCQ Set 2
  58. MBA Business Environment MCQ Set 3
  59. MBA Business Environment MCQ Set 4
  60. MBA Business Environment MCQ Set 5
  61. MBA Business Environment MCQ Set 6
  62. MBA Business Environment MCQ Set 7
  63. MBA Business Environment MCQ Set 8
  64. MBA Business Environment MCQ Set 9
  65. MBA Business Ethics and Governance MCQ Set 1
  66. MBA Business Law Mcq Set 1
  67. MBA Business Law Mcq Set 2
  68. MBA Business Law Mcq Set 3
  69. MBA Business Law Mcq Set 4
  70. MBA Business Law Mcq Set 5
  71. MBA Business Law Mcq Set 6
  72. MBA Business Law Mcq Set 7
  73. MBA Business Law Mcq Set 8
  74. MBA Business Law Mcq Set 9
  75. MBA Business Mathematics Mcq Set 1
  76. MBA Business Mathematics Mcq Set 2
  77. MBA Business Mathematics Mcq Set 3
  78. MBA Business Mathematics Mcq Set 4
  79. MBA Business Mathematics Mcq Set 5
  80. MBA Business Mathematics Mcq Set 6
  81. MBA Business Statistics Mcq Set 1
  82. MBA Business Statistics Mcq Set 2
  83. MBA Computers In Management Mcq Set 1
  84. MBA Computers In Management Mcq Set 2
  85. MBA Computers In Management Mcq Set 3
  86. MBA Computers In Management Mcq Set 4
  87. MAB Cost and Managerial Accounting Mcq Set 1
  88. MBA Cost and Managerial Accounting Mcq Set 1
  89. MBA Cost and Managerial Accounting Mcq Set 2
  90. MBA Cost and Managerial Accounting Mcq Set 3
  91. MBA Cost and Managerial Accounting Mcq Set 4
  92. MBA Cost and Managerial Accounting Mcq Set 5
  93. MBA Cost and Managerial Accounting Mcq Set 6
  94. MBA Cost and Managerial Accounting Mcq Set 7
  95. MBA Cost and Managerial Accounting Mcq Set 8
  96. MBA Cost and Managerial Accounting Mcq Set 9
  97. MBA Cost and Managerial Accounting Mcq Set 10
  98. MBA Cost and Managerial Accounting Mcq Set 11
  99. MBA E-Business MCQ Set 1
  100. MBA E-Business MCQ Set 2
  101. MBA E-Business MCQ Set 3
  102. MBA E-Business MCQ Set 4
  103. MBA English Language MCQ Set 1
  104. MBA English Language MCQ Set 2
  105. MBA Entrepreneurship Management MCQ Set 1
  106. MBA Entrepreneurship Management MCQ Set 2
  107. MBA Entrepreneurship Management MCQ Set 3
  108. MBA Entrepreneurship Management MCQ Set 4
  109. MBA Entrepreneurship Management MCQ Set 5
  110. MBA Entrepreneurship Management MCQ Set 6
  111. MBA Financial Management MCQ Set 1
  112. MBA Financial Management MCQ Set 2
  113. MBA Financial Management MCQ Set 3
  114. MBA Financial Management MCQ Set 4
  115. MBA Financial Management MCQ Set 5
  116. MBA Financial Management MCQ Set 6
  117. MBA Financial Management MCQ Set 7
  118. MBA Financial Management MCQ Set 8
  119. MBA Financial Management MCQ Set 9
  120. MBA Financial Management MCQ Set 10
  121. MBA Financial Management MCQ Set 11
  122. MBA Financial Management MCQ Set 12
  123. MBA Human Resource Management Mcq Set 1
  124. MBA Human Resource Management Mcq Set 2
  125. MBA Human Resource Management Mcq Set 3
  126. MBA Human Resource Management Mcq Set 4
  127. MBA Human Resource Management Mcq Set 5
  128. MBA Human Resource Management Mcq Set 6
  129. MBA Human Resource Management Mcq Set 7
  130. MBA Human Resource Management Mcq Set 8
  131. MBA Insurance and Risk Management Mcq Set 1
  132. MBA Insurance and Risk Management Mcq Set 2
  133. MBA Insurance and Risk Management Mcq Set 3
  134. MBA Insurance and Risk Management Mcq Set 4
  135. MBA Insurance and Risk Management Mcq Set 5
  136. MBA Insurance and Risk Management Mcq Set 6
  137. MBA Management Information Systems Mcq Set 1
  138. MBA Management Information Systems Mcq Set 2
  139. MBA Management Information Systems Mcq Set 3
  140. MBA Management Information Systems Mcq Set 4
  141. MBA Management Information Systems Mcq Set 5
  142. MBA Management Information Systems Mcq Set 6
  143. MBA Management Information Systems Mcq Set 7
  144. MBA Management Information Systems Mcq Set 8
  145. MBA Management Information Systems Mcq Set 9
  146. MBA Marketing Management Mcq Set 1
  147. MBA Marketing Management Mcq Set 2
  148. MBA Marketing Management Mcq Set 3
  149. MBA Marketing Management Mcq Set 4
  150. MBA Marketing Management Mcq Set 5
  151. MBA Marketing Management Mcq Set 6
  152. MBA Marketing Management Mcq Set 7
  153. MBA Marketing Management Mcq Set 8
  154. MBA Marketing Management Mcq Set 9
  155. MBA Marketing Management Mcq Set 10
  156. MBA Marketing Management Mcq Set 11
  157. MBA Marketing Management Mcq Set 12
  158. MBA Marketing Management Mcq Set 13
  159. MBA Media Planning Mcq Set 1
  160. MBA Media Planning Mcq Set 2
  161. MBA Media Planning Mcq Set 3
  162. MBA Media Planning Mcq Set 4
  163. MBA Operations Research Mcq Set 1
  164. MBA Operations Research Mcq Set 2
  165. MBA Operations Research Mcq Set 3
  166. MBA Operations Research Mcq Set 4
  167. MBA Operations Research Mcq Set 5
  168. MBA Organisational Behavior Mcq Set 1
  169. MBA Organisational Behavior Mcq Set 2
  170. MBA Organisational Behavior Mcq Set 3
  171. MBA Organisational Behavior Mcq Set 4
  172. MBA Principles and Practices of Management Mcq Set 1
  173. MBA Principles and Practices of Management Mcq Set 2
  174. MBA Principles and Practices of Management Mcq Set 3
  175. MBA Principles and Practices of Management Mcq Set 4
  176. MBA Principles and Practices of Management Mcq Set 5
  177. MBA Principles and Practices of Management Mcq Set 6
  178. MBA Principles and Practices of Management Mcq Set 7
  179. MBA Principles and Practices of Management Mcq Set 8
  180. MBA Principles and Practices of Management Mcq Set 9
  181. MBA Production and Operations Management Mcq Set 1
  182. MBA Production and Operations Management Mcq Set 2
  183. MBA Production and Operations Management Mcq Set 3
  184. MBA Production and Operations Management Mcq Set 4
  185. MBA Production and Operations Management Mcq Set 5
  186. MBA Production and Operations Management Mcq Set 6
  187. MBA Production and Operations Management Mcq Set 7
  188. MBA Production and Operations Management Mcq Set 8
  189. MBA Production and Operations Management Mcq Set 9
  190. MBA Production and Operations Management Mcq Set 10
  191. MBA System Analysis and Design Mcq Set 1
  192. MBA System Analysis and Design Mcq Set 2
  193. MBA System Analysis and Design Mcq Set 3
  194. MBA System Analysis and Design Mcq Set 4
  195. MBA System Analysis and Design Mcq Set 5
  196. MBA System Analysis and Design Mcq Set 6
  197. MBA System Analysis and Design Mcq Set 7
  198. MBA System Analysis and Design Mcq Set 8
  199. MBA System Analysis and Design Mcq Set 9
  200. MBA Total Quality Management Mcq Set 1
  201. MBA Total Quality Management Mcq Set 2
  202. MBA Total Quality Management Mcq Set 3
  203. MBA Total Quality Management Mcq Set 4
  204. MBA Total Quality Management Mcq Set 5
  205. MBA Total Quality Management Mcq Set 6
  206. MBA Total Quality Management Mcq Set 7
  207. MBA Total Quality Management Mcq Set 8
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