Civil Engineering MCQs

Page No. 56

All the proceeds which are received by the business as a result of the sale of goods is called _________________?


aNet income

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bGross income

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cNet revenue

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dTotal sales

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View Answer Gross income

The original record of a business transaction is recorded in this book_____________?


aWork book

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bJournal

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cLedger

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dAccount book

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View Answer Journal

What is a secondary book of accounts, the information of which is obtained from the journal is called ?


aBalanced sheet

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bLedger

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cWorksheet

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dTrial balance

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View Answer Ledger

What is used to record historical financial transactions ?


a Bookkeeping system

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b Ledger system

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cBalance check

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dGeneral journal system

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View Answer Bookkeeping system

What is the change in cost per unit variable change called ?


aVariable cost

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bIncremental cost

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cFixed cost

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dSupplemental cost

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View Answer Incremental cost

What is an accounting term that represents an inventory account adjustment ?


aCost of goods sold

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b Cost accounting

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cStandard cost

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d Overhead cost

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View Answer Cost of goods sold

What is another term for “current assets” ?


aFixed assets

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bNon-liquid assets

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cLiquid assets

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dcash

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View Answer Liquid assets

What refers to the interest rate at which the present work of the cash flow on a project is zero of the interest earned by an investment ?


aEconomic return

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bYield

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c Rate of return

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dReturn of investment

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View Answer Rate of return

Lands, buildings, plants and machineries are example of what type of asset ?


aCurrent asset

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bTrade investment asset

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c Fixed asset

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dIntangible asset

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View Answer Fixed asset

Which of the following is an example of intangible asset ?


aCash

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bInvestment in subsidiary companies

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cFurnitures

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dPatents

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View Answer Patents

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