MBA/MBA Accounting MCQ Question Set 10 Sample Test,Sample questions

Question:
A bill drawn and accepted for a genuine trade transaction is termed as a _______ bill.

1.Trade

2.Time

3.Inland

4.Personal


Question:
Accounting principles are generally based on _______

1.practicability

2.Subjectivity

3.convenience in recording

4.Applicability


Question:
Any amount received towards endowment fund is a ________receipt.

1.Ordinary

2.Special

3.Revenue

4.Capital


Question:
Bills payable book is to keep a record of __________

1.bills payable to creditors

2.bills received from supplier

3.credit purchases

4.credit sales


Question:
Cancelling the original bill and drawing a fresh acceptance is known as ______

1.retiring under rebate

2.Discounting

3.Renewal

4.bill sent to bank for collection


Question:
Credit sales are recorded in ______

1.sales book

2.cash book

3.journal proper

4.purchases book


Question:
Daily Record of Transaction means

1.Ledger

2.Journal

3.Trial Balance

4.None of these


Question:
Debit balance in cash book means ______

1.overdraft as per pass book

2.overdraft as per cash book

3.credit balance as per pass book

4.debit balance as per day book


Question:
Drawings account is related to ______

1.Nominal Account

2.Personal Account

3.Real Account

4.None of the above


Question:
Error of commission do not allow _______

1.correct totalling of the balance sheet

2.correct totalling of the balance sheet

3.the trail balance to agree

4.correct totaling of the day book


Question:
If a cheque sent for collection is dishonoured, the debit is given to _______

1.suppliers account

2.bank account

3.customers account

4.cash account


Question:
In accounting, the benefit giving aspect is said to be

1.Debit

2.Credit

3.Debit and Credit

4.None of these


Question:
Income and expenditure account is a _____

1.Real account

2.Nominal account

3.Personal account

4.Representative account


Question:
Interest on capital is credited to ______ account.

1.Expenses account

2.Income account

3.Capital account

4.Asset account


Question:
Non-trading institutions prepare ________

1.profit and loss account

2.trading account

3.manufacturing account

4.income and expenditure account


Question:
Non-trading institutions prepare _________

1.Income and expenditure account

2.Trading and profit and loss account

3.Only trading account

4.Only revenue account


Question:
Outstanding salaries are shown as _______

1.an expense

2.a liability

3.an asset

4.an income


Question:
Preliminary expenses are an example of ________

1.deferred Revenue Expenditure

2.revenue Expenditure

3.capital Expenditure

4.common expenditure


Question:
Premium received on issue of shares is a ______________. tempor

1.capital receipt

2.revenue receipt

3.deferred capital receipt

4.deferred revenue receipt


Question:
Prepaid insurance is _______

1.Nominal account

2.Personal account

3.Real account

4.Prepaid account


Question:
Provision for bad debts is calculated on _______

1.creditors

2.Sales

3.Purchases

4.Debtors


Question:
Purchases made on credit not recorded at all would affect _______

1.Purchases account

2.Suppliers account

3.Purchases account and suppliers account

4.Wages account


Question:
Receipts and payments account is a _______

1.Personal account

2.Nominal account

3.Real account

4.Representative account


Question:
Returns outward book makes a record of _______

1.goods returned to the suppliers

2.goods returned to customers

3.goods returned to proprietor

4.goods returned to neighbors


Question:
Revenue expenditure is intended to benefit _______

1.current period

2.future period

3.past period

4.both (1) and (2)


Question:
Sale of old newspaper is to be shown on the credit side of the ______

1.cash book

2.income and expenditure

3.balance sheet

4.trading account


Question:
Sales of old material must be shown on the credit side of ______

1.cash book

2.income and expenditure account

3.balance sheet

4.Trading account


Question:
State which of the following errors will not be revealed by the trial balance _______

1.errors of complete omission

2.errors of carrying forward

3.wrong totaling of the purchases book

4.error of partial omission


Question:
The amount brought in by the proprietor in the business should be credited to:

1.cash account

2.capital account

3.drawing account

4.bank 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 assets of a business can be classified as _______

1.only fixed assets

2.only current assets

3.fixed and current assets

4.fictitious assets


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 balance of the petty cash book is ______

1.an asset

2.a liability

3.an income

4.an expenditure


Question:
The balance of the petty cash book is ______

1.an asset

2.a liability

3.an income

4.an expenditure


Question:
The discount column of a triple column cash book records _______

1.trade discount

2.cash discount

3.quantity discount

4.seasonal discount


Question:
The Letter "c" is shown in the Cash book which means _______

1.consignment

2.Commitment

3.Contra Entry

4.Cash entry


Question:
The main aim of ______________ accounting is to ascertain cost relating to the various activities of the business and to have cost control.

1.financial accounting

2.cost accounting

3.management account

4.human resource accounting


Question:
The person to whom the amount has to be paid is known as _______

1.Drawee

2.Drawer

3.Acceptor

4.Payee.


Question:
The person to whom the bill is endorsed is called ______

1.Endorse

2.Endorse

3.Drawe

4.Drawe


Question:
The person who writes out the bill of exchange is known as

1.Payee

2.Drawee

3.Drawer

4.Acceptor


Question:
The preparation of a Trial balance helps in ______

1.locating errors in principle

2.locating errors of omission

3.locating clerical errors

4.locating compensatory errors


Question:
The process of recording financial transactions in the journal is called ______

1.Journalizing

2.Utilizing

3.Posting

4.Balancing


Question:
Wages is an example of ________

1.capital expenses

2.indirect expenses

3.direct expenses

4.revenue expenses


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

1.Memorandum account

2.Suspense account

3.Rectification account

4.Adjustment account


Question:
Which item is shown on the debit side of a trial balance?

1.Rent outstanding

2.Prepaid expenses

3.Purchases returns

4.Excess of income over expenses by the firm


Question:
Which one of the following is capital expenditure?

1.Cost of advertisement

2.Purchase of a delivery van

3.Purchase of raw material

4.Purchase of machine oil


Question:
_______ is the person who prepares Bank Reconciliation Statement.

1.customer of the bank

2.ban

3.neither of the above two

4.reserve bank of India


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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