Accounting Mcqs

Page No. 39

Bank charges amounting to $5000 was not entered in the cash book. Identify the correct adjustment in cash book?


aBank charges will be debited in cash book

✖


bBank charges will be added to cash book balance

✖


cBank charges will be credited in cash book

✓


dBank charges need no adjustment in cash book

✖



Bank reconciliation statement is prepared by____________?


aAccountant of the business

✓


bManager of the business

✖


cController of the bank

✖


d Accountant of the bank

✖



A check returned by bank marked “NSF” means that:


aBank can’t verify your identity

✖


bThere are not sufficient funds in your account

✓


cCheck has been forged

✖


dCheck can’t be cashed being illegal

✖



A cash deposit made by business appears on the bank statement as _______ balance?


aDebit

✖


bCredit

✓


cExpenses

✖


dLiability

✖


View Answer Credit

Accommodation bills are generally for?


aGenuine trade reasons

✖


bFor mutual financial accommodation

✓


cTo help augment money supply

✖


dAll the three

✖



X draws a Bill of Exchange on Y for 10,000 on 1-1-2013 for 3 months. The due date of the bill will be_________?


a4-4-2013

✓


b3-4-2013

✖


c1-4-2013

✖


d31-3-2013

✖


View Answer 4-4-2013

Which of these are not required in a promissory note?


aAcceptance

✓


bUnconditional promise to pay

✖


cProperly stamped

✖


dPayment to be made legal currency

✖


View Answer Acceptance

A foreign bill of exchange is generally drawn up in___________?


aTriplicate

✓


bDuplicate

✖


cSingle

✖


dQuadruplicate

✖


View Answer Triplicate

Which of these is not an essential feature of a bill of exchange?


aUnconditional

✖


bCertainty of amount

✖


cIn writing

✖


dAmount to be paid in foreign currency

✓



Negotiable Instrument Act was enacted in_________?


a1981

✖


b1881

✓


c1871

✖


d2001

✖


View Answer 1881

Goto Page No.

Page 39 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