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


bGross income


cNet revenue


dTotal sales


View Answer Gross income

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


aWork book


bJournal


cLedger


dAccount book


View Answer Journal

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


aBalanced sheet


bLedger


cWorksheet


dTrial balance


View Answer Ledger

What is used to record historical financial transactions ?


a Bookkeeping system


b Ledger system


cBalance check


dGeneral journal system


View Answer Bookkeeping system

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


aVariable cost


bIncremental cost


cFixed cost


dSupplemental cost


View Answer Incremental cost

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


aCost of goods sold


b Cost accounting


cStandard cost


d Overhead cost


View Answer Cost of goods sold

What is another term for “current assets” ?


aFixed assets


bNon-liquid assets


cLiquid assets


dcash


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


bYield


c Rate of return


dReturn of investment


View Answer Rate of return

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


aCurrent asset


bTrade investment asset


c Fixed asset


dIntangible asset


View Answer Fixed asset

Which of the following is an example of intangible asset ?


aCash


bInvestment in subsidiary companies


cFurnitures


dPatents


View Answer Patents

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