Accounting Mcqs

Page No. 64

Which of the following is a liability?


aCash


bEquipment


cDebtors


dCreditors


View Answer Creditors

What is the basic accounting equation?


aCapital+Liabilities=Assets


bAssets+ liabilities =Capital


cCapital+assets=liabilities


d Liabilities+Capital



Which is the most important characteristic that all assets of a business have?


aLong life of assets


bValue of assets


cIntangible nature of assets


dFuture economic benefits



Which of the following can be considered as the most important phase of accounting cycle and it is the primarily objective of financial accounting?


aIdentifying transactions


bPreparing “T Accounts”


cPreparing financial statements


dPreparing trial balances



Liability are arisen from which of the following events?


aPresent event


bFuture event


cPast event


dNone of them


View Answer Past event

An asset must be _______ by the business to be shown as an asset in its “balance sheet”


aPossessed


bOwned


cControlled


dUsed


View Answer Controlled

The gross decrease in economic benefits for the business are what?


aExpenses


bObligations


cCreditors


dIncome or gain


View Answer Expenses

________ is the gross inflow of economic benefits? Assets


aAssets


bLiabilities


cIncome


dExpenses


View Answer Income

Liabilities are which of the following?


aResources


bObligations


cFuture benefits


dExpenses


View Answer Obligations

An asset posses which of the following?


aFuture economic benefits for the business


bAll kind of benefits for the business


cExpenses for the business


dMerits and Demerits for the business



Goto Page No.

Page 64 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