Accounting Mcqs

Page No. 25

Which of the following is not a transaction?


aGoods are purchased on cash basis for Rs.1000


bSalaries are paid for the month of May 2010


cLand is purchased for Rs. 10 lacs


dAn employee dismissed from the job



If an effect of an error is cancelled by the effect of some other error, it is commonly known as


aError of principle


bCompensatory errors


cError of omission


dError of commission


View Answer Compensatory errors

"Treating a revenue expenditure as a capital expenditure" is an example of


aCompensating error


bError of principle


cError of omission


dError of commission


View Answer Error of principle

The basic consideration(s) in distinction between capital and revenue expenditure is/are


aNature of business


bEffect on revenue generating capacity of the business


cPurpose of expenses


dAll of the above


View Answer All of the above

Narrations are given at the end of


aFinal accounts


bTrial Balance


cEach Ledger account


dEach journal entry


View Answer Each journal entry

Interest on drawings is ___ for the business


aLoss


bExpense


cGain


dNone of the above


View Answer Gain

X draws a bill on Y. X endorsed the bill to Z. ____ will be the payee of the bill.


aX


bY


cZ


dNone of the above


View Answer Z

Which account is the odd one out?


aOffice furniture and equipment


bFreehold land and building


cStock of raw materials


dPlant and machinery



The owner of consignment stock is


aConsignor


bConsignee


cDebtors


dNone of the above


View Answer Consignor

Dismantling and demolition charges is a


aDeferred Revenue expenditure


bCapital expenditure


cRevenue expenditure


dNone of the above


View Answer Revenue expenditure

Goto Page No.

Page 25 of 71

Alphabetical MCQs Categories

Here below You find all kind of categories of MCQs in alphabetical order.


"Comprehensive Collection of MCQs: Alphabetically Organized by Subject"

"Discover an extensive collection of multiple-choice questions (MCQs) neatly categorized by subject from A to Z. This resource is designed for anyone eager to explore various topics in a straightforward and organized manner. Whether you're a student preparing for exams, an educator seeking supplementary materials, or simply curious about different subjects, this compilation offers a convenient way to learn and assess your knowledge. With questions arranged alphabetically, navigation is effortless, allowing you to delve into subjects of interest at your own pace. Engage, learn, and expand your understanding with this accessible and comprehensive repository of MCQs!"


BolPakistan

bolpakistan.com.pk includes Job Mcqs and Pak Mcqs is the Top Largest Mcqs Forum in World, in which you can read Mcqs of All Subjects, PPSC test preparation, FPSC, NTS and PPSC PAST PAPERS, PPSC PAST MCQS. A Collection of Repeated MCQs for JOBs seekers.

Copyright © 2024, Designed & Developed by BolPakistan