MBA Accounting MCQ Question Set 9 MBA MCQs: multiple choice questions and answers,Mock Tests and Practice Papers

Question:

A bank pass book is a copy of ________

1.the cash column of a customers cash book

2.the bank column of a customers cash book

3.the customers account in the banks ledger

4.the customer account in the suppliers ledger

Question:

A bill drawn and accepted for providing funds to a friend in need is known as _______

1.Cheque.

2.promissory note.

3.accommodation bill.

4.demand bill.

Question:

A Cheque received and deposited in the bank on the same day is recorded in the _______

1.cash column of the cash book

2.bank column of the cash book

3.credited in the cash book

4.debited in the cash book

Question:

A credit sale of goods to Shiva should be debited to _______

1.Sales account

2.Goods account

3.Shiva account

4.Purchase account

Question:

A debit balance in the income and expenditure account denotes excess of ____ over______.

1.income, expenditure

2.assets, liabilities

3.liabilities, assets

4.expenditure, income

Question:

A person who draws a bill of exchange is known as the _____

1.Drawee.

2.Drawer.

3.Payer.

4.Payee.

Question:

Account current is a journal:

1.True

2.False

3.Partly true

4.Partly false

Question:

Any donation received for a specific purpose is a _________

1.Liability

2.Assets

3.revenue receipt

4.capital receipts

Question:

Any expenditure incurred in order to reduce the operating expenses is _____

1.capital expenditure

2.revenue expenditure

3.deferred revenue expenditure

4.promotional expenditure

Question:

Any written document in support of a business transaction is called a ________

1.Voucher

2.Bill

3.Carbon copy

4.Expense bill

Question:

Balance sheet is a _______

1.statement

2.Account

3.Ledger

4.Book

Question:

Bank account is _______

1.Nominal account

2.Real account

3.Personal account

4.none of these above

Question:

Bills are drawn by ______

1.Creditors

2.Debtors

3.Agent

4.Brokers

Question:

Bills Receivable book is to keep record of _______

1.a. bills received from customers

2.a. bills received from supplier

3.a. credit purchases

4.a. credit sales

Question:

Book-keeping is mainly concerned with __________

1.recording of financial data relating to business operations

2.designing the system in recording, classifying, summarizing the recorded data

3.interpreting the data for internal and external end users

4.only for internal purposes

Question:

Capital=

1.Asset - Liabilitie

2.Asset

3.Liabilities

4.All the abov

Question:

Cash book prepared on imprest system is ________

1.two column cash book

2.cash book

3.petty cash book

4.purchase book

Question:

Depreciation deducted from the concerned _______

1.Liability

2.Asset

3.Expenses

4.Incomes

Question:

Errors which affect one account can be _______

1.errors of omission

2.errors of principle

3.errors of posting

4.error of commission

Question:

Excess of income over expenditure in shown on the ______________ side of income and expenditure account.

1.Credit

2.Debit

3.Upper

4.Lower

Question:

Expenditure incurred on research is an example of _______

1.capital expenditure

2.revenue expenditure

3.deferred revenue expenditure

4.partly capital expenditure

Question:

Goods destroyed by fire should be credited to _______

1.Purchases account

2.Sales account

3.Loss of goods by fire account

4.Insurance account

Question:

Heavy advertising to launch a new product is a _______

1.capital expenditure

2.deferred revenue expenditure

3.other expenditure

4.revenue expendture

Question:

In triple column cash book, cash withdrawn from bank for office use will appear in ______

1.debit side of the cash book only

2.both sides of the cash book

3.credit side of the cash book only

4.credit side of the bank account

Question:

Income and expenditure account reveals ________

1.cash in hand

2.surplus or deficiency

3.capital account

4.a. revenue account

Question:

Interest on drawings is ______

1.expenditure for the business

2.expense for the business

3.gain for the business

4.loss for the business

Question:

Ledger is a book of ______________empor

1.original entry

2.final entry

3.all cash entry

4.all credit entry

Question:

Ledger is also called ________

1.principal book of accounts

2.cash book

3.subsidiary books

4.petty cash book.

Question:

Purchase of machinery is recorded in _______

1.sales book

2.journal proper

3.purchases book

4.sales returns book

Question:

Purchase of Typewriter would result in ______________ of fund.

1.Change

2.application

3.Service

4.no flow

Question:

Revenue receipts are ______________ in the business.

1.non-recurring

2.Recurring

3.Accumulating

4.non-accumulating

Question:

Rs. 500 spent on servicing office typewriter should be debited to _________

1.Miscellaneous expenses account

2.Typewriter account

3.Repairs account

4.Services account

Question:

Specific donations received by a non-trading concern are usually ______

1.revenue receipt

2.capital receipt

3.capital expenditure

4.revenue expenditure

Question:

Subscription received in advance is _______

1.an income

2.an asset

3.a liability

4.an expense

Question:

Subscriptions received in advance will figure in the _________

1.balance sheet

2.receipts and payment account

3.income and expenditure account

4.revenue account

Question:

The appropriate book to record credit purchase of machinery is _______

1.purchases book

2.journal

3.cash book

4.petty cash book

Question:

The balance of cash account indicates __________

1.net income for the period

2.net loss for the period

3.net cash on hand

4.net worth of the business

Question:

The basic function of financial accounting is to ______

1.record all business transactions

2.interpret the financial data

3.assist the management in performing functions effectively

4.information to management

Question:

The holder of a bill who endorses it is called

1.Endorse

2.Endorse

3.Accepto

4.Paye

Question:

The method of account current usually employed by the banker is known as _______

1.Daily balance method

2.Red ink interest

3.Current account

4.Product method

Question:

The receipts and payments account begins with ________

1.debit balance

2.credit balance

3.no balance

4.normal balance

Question:

Wages paid for erection of machinery are debited to _______

1.Wages account

2.Machinery account

3.Profit and loss account

4.Deferred wages account

Question:

When a bill is discharged, the acceptor debits ____

1.Creditors account

2.Cash account

3.Bills payable account

4.Bills receivable account

Question:

Which account is generally used for rectification of errors?

1.Memorandum account

2.Suspense account

3.Rectification account

4.Adjustment account

Question:

Which of the following is related to nominal account?

1.Bank account

2.Commission account

3.Furniture account

4.Interest received account

Question:

Which of the following items should not be entered in receipts and payments account of a club?

1.Sale of old newspaper

2.Loss on sale of old furniture

3.Subscriptions received in advance

4.Expenses for previous year

Question:

Which one of the following is an example of personal account?

1.Capital account

2.Building account

3.Cash account

4.Investment account

Question:

Which one the following is an example of an intangible asset?

1.Preliminary expenses

2.Discount on issue of debentures

3.Investments

4.Copyrights

Question:

While discounting the bill, debit should be given to ______

1.bank account

2.bill receivable account

3.acceptors account

4.cash account

Question:

________ is given to promote sales.

1.Cash discount

2.Trade discount

3.Quantity discount

4.Price discount

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MBA/MBA Accounting MCQ Question Set 9 Sample Test,Sample questions

Question: A bank pass book is a copy of ________

Question: A bill drawn and accepted for providing funds to a friend in need is known as _______

Question: A Cheque received and deposited in the bank on the same day is recorded in the _______

Question: A credit sale of goods to Shiva should be debited to _______

Question: A debit balance in the income and expenditure account denotes excess of ____ over______.

Question: A person who draws a bill of exchange is known as the _____

Question: Account current is a journal:

Question: Any donation received for a specific purpose is a _________

Question: Any expenditure incurred in order to reduce the operating expenses is _____

Question: Any written document in support of a business transaction is called a ________

Question: Balance sheet is a _______

Question: Bank account is _______

Question: Bills are drawn by ______

Question: Bills Receivable book is to keep record of _______

Question: Book-keeping is mainly concerned with __________

Question: Capital=

Question: Cash book prepared on imprest system is ________

Question: Depreciation deducted from the concerned _______

Question: Errors which affect one account can be _______

Question: Excess of income over expenditure in shown on the ______________ side of income and expenditure account.

Question: Expenditure incurred on research is an example of _______

Question: Goods destroyed by fire should be credited to _______

Question: Heavy advertising to launch a new product is a _______

Question: In triple column cash book, cash withdrawn from bank for office use will appear in ______

Question: Income and expenditure account reveals ________

Question: Interest on drawings is ______

Question: Ledger is a book of ______________empor

Question: Ledger is also called ________

Question: Purchase of machinery is recorded in _______

Question: Purchase of Typewriter would result in ______________ of fund.

Question: Revenue receipts are ______________ in the business.

Question: Rs. 500 spent on servicing office typewriter should be debited to _________

Question: Specific donations received by a non-trading concern are usually ______

Question: Subscription received in advance is _______

Question: Subscriptions received in advance will figure in the _________

Question: The appropriate book to record credit purchase of machinery is _______

Question: The balance of cash account indicates __________

Question: The basic function of financial accounting is to ______

Question: The holder of a bill who endorses it is called

Question: The method of account current usually employed by the banker is known as _______

Question: The receipts and payments account begins with ________

Question: Wages paid for erection of machinery are debited to _______

Question: When a bill is discharged, the acceptor debits ____

Question: Which account is generally used for rectification of errors?

Question: Which of the following is related to nominal account?

Question: Which of the following items should not be entered in receipts and payments account of a club?

Question: Which one of the following is an example of personal account?

Question: Which one the following is an example of an intangible asset?

Question: While discounting the bill, debit should be given to ______

Question: ________ is given to promote sales.

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Question:
A bank pass book is a copy of ________

Question:
A bill drawn and accepted for providing funds to a friend in need is known as _______

Question:
A Cheque received and deposited in the bank on the same day is recorded in the _______

Question:
A credit sale of goods to Shiva should be debited to _______

Question:
A debit balance in the income and expenditure account denotes excess of over__.

Question:
A person who draws a bill of exchange is known as the _____

Question:
Account current is a journal:

Question:
Any donation received for a specific purpose is a _________

Question:
Any expenditure incurred in order to reduce the operating expenses is _____

Question:
Any written document in support of a business transaction is called a ________

Question:
Balance sheet is a _______

Question:
Bank account is _______

Question:
Bills are drawn by ______

Question:
Bills Receivable book is to keep record of _______

Question:
Book-keeping is mainly concerned with __________

Question:
Capital=

Question:
Cash book prepared on imprest system is ________

Question:
Depreciation deducted from the concerned _______

Question:
Errors which affect one account can be _______

Question:
Excess of income over expenditure in shown on the ______________ side of income and expenditure account.

Question:
Expenditure incurred on research is an example of _______

Question:
Goods destroyed by fire should be credited to _______

Question:
Heavy advertising to launch a new product is a _______

Question:
In triple column cash book, cash withdrawn from bank for office use will appear in ______

Question:
Income and expenditure account reveals ________

Question:
Interest on drawings is ______

Question:
Ledger is a book of ______________empor

Question:
Ledger is also called ________

Question:
Purchase of machinery is recorded in _______

Question:
Purchase of Typewriter would result in ______________ of fund.

Question:
Revenue receipts are ______________ in the business.

Question:
Rs. 500 spent on servicing office typewriter should be debited to _________

Question:
Specific donations received by a non-trading concern are usually ______

Question:
Subscription received in advance is _______

Question:
Subscriptions received in advance will figure in the _________

Question:
The appropriate book to record credit purchase of machinery is _______

Question:
The balance of cash account indicates __________

Question:
The basic function of financial accounting is to ______

Question:
The holder of a bill who endorses it is called

Question:
The method of account current usually employed by the banker is known as _______

Question:
The receipts and payments account begins with ________

Question:
Wages paid for erection of machinery are debited to _______

Question:
When a bill is discharged, the acceptor debits ____

Question:
Which account is generally used for rectification of errors?

Question:
Which of the following is related to nominal account?

Question:
Which of the following items should not be entered in receipts and payments account of a club?

Question:
Which one of the following is an example of personal account?

Question:
Which one the following is an example of an intangible asset?

Question:
While discounting the bill, debit should be given to ______

Question:
________ is given to promote sales.