Accounting Mcqs

Page No. 47

Payments received in advance from a customer for a contract can be__________?


aShown as a deduction from contract work-in-progress on asset side

✖


bShown as a liability

✖


cCredited to P&L A/c

✖


dEither A. or B. above

✓


View Answer Either A. or B. above

Investment in own share A/c appears in____________?


aAsset side

✓


bLiability side

✖


cNetted from Capital

✖


dProfit & Loss A/c

✖


View Answer Asset side

Tax deducted at source A/c appears in___________?


aAssets side

✓


bLiability side

✖


cProfit & Loss A/c

✖


dDebited to Capital A/c

✖


View Answer Assets side

Cost of goods sold excludes___________?


aOpening Stock

✖


bCarriage inward

✖


cWages & Salary

✖


dPostage & Stamps

✓


View Answer Postage & Stamps

When a person purchasing goods on credit he becomes a_________in the books of the seller?


aDebtor

✓


bCreditor

✖


cDefaulter

✖


dOffender

✖


View Answer Debtor

The entry for creating a Provision for bad debts is_____________?


a Debit Provision for Bad Debts A/c and credit Debtors A/c

✖


bDebit Debtors A/c and credit Provision for Bad Debts A/c

✖


cDebit Provision for Bad Debts A/c and credit Profit & Loss A/c

✖


dDebit Profit and Loss A/c and credit Provision for Bad Debts A/c.

✓



InsuranceBad debts recovered account will be transferred to______________?


aDebtor‘s Account

✖


b Profit and Loss Account

✖


cProvision for Doubtful Debt Account

✖


d Either (b )or C. above

✓



____________is also known as Appraisal system of depreciation?


aInventory system

✓


bSurvey system

✖


cAnnuity system

✖


dInsurance

✖


View Answer Inventory system

Which of the following is not depreciated?


aBuilding

✖


bLand

✓


cPlant and Machinery

✖


dPlant and Machinery

✖


View Answer Land

Which of the following is an external cause of depreciation?


aRoutine repair and maintenance

✖


bMisuse

✖


cObsolescence

✓


dObsolescence

✖


View Answer Obsolescence

Goto Page No.

Page 47 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