MBA Accounting MCQ Question Set 8 MBA MCQs: multiple choice questions and answers,Mock Tests and Practice Papers

MBA/MBA Accounting MCQ Question Set 8 Sample Test,Sample questions

Question:

______ is allowed to encourage early cash payment.

1.Cash discount

2.Trade discount

3.Quantity discount

4.Price discount

Posted Date:-2021-10-28 07:51:36

Question:

A bill of exchange payable after a certain period is known as ______________ bill.

1.Time

2.accommodation

3.revenue

4.Dishonored

Posted Date:-2021-10-28 07:57:01

Question:

A bill which is not an inland bill is a ______________ bill.

1.Outwar

2.inwar

3.Foreig

4.Ne

Posted Date:-2021-10-28 07:57:34

Question:

A Cheque received and paid into the bank on the same day id recorded in the ______

1.a. cash column of the cash book

2.a. bank column of the cash book

3.a. both the cash and bank columns of the book

4.a. the credit balance as per pass book

Posted Date:-2021-10-28 07:44:43

Question:

A gross profit is transferred to the ______________side of the profit and loss account.

1.Debit

2.Credit

3.Current

4.Asset

Posted Date:-2021-10-28 07:47:44

Question:

A sale of goods to vidhya for cash should be debited to ______________.

1.Vidhya account

2.Cash account

3.Sale of goods account

4.Purchases account

Posted Date:-2021-10-28 07:27:20

Question:

Accounts receivable includes ________

1.sundry debtors

2.bill receivable

3.promissory note

4.All of the above

Posted Date:-2021-10-28 07:59:15

Question:

Amount paid for acquiring goodwill is _______

1.revenue expenditure

2.deferred revenue expenditure

3.capital expenditure

4.deferred capital expenditure

Posted Date:-2021-10-28 07:45:15

Question:

An example of revenue expenditure is ______

1.Purchase of land

2.Salaries

3.Lease

4.Purchase of buildings

Posted Date:-2021-10-28 07:21:02

Question:

Any profit on the sale of furniture of a cricket club will be taken to ______

1.income and expenditure account

2.cash account

3.profit and loss account

4.furniture account

Posted Date:-2021-10-28 07:50:22

Question:

Any revenue expense for when a separate fund is available will be _________

1.debited to the separate fund

2.debited to income and expenditure account

3.capital issued and shown in the balance sheet

4.credited to the separate fund

Posted Date:-2021-10-28 07:31:09

Question:

At the time of endorsement of a bill, the drawer credits ______

1.the .drawee

2.endorsees personal account

3.bills receivable account

4.bills for collection account

Posted Date:-2021-10-28 07:21:32

Question:

Average due date can be called as _______

1.mean due date

2.median due date

3.mode due date

4.zero date

Posted Date:-2021-10-28 07:32:49

Question:

Bank Reconciliation statement is _________

1.ledger account

2.part of the cash book

3.separate statement

4.a sub division of the journal

Posted Date:-2021-10-28 07:24:30

Question:

Bank reconciliation statement is prepared by the _______

1.bank

2.creditors of a business

3.customer of a bank

4.Suppliers

Posted Date:-2021-10-28 07:54:28

Question:

Bills payable book is a ________

1.subsidiar

2.a. principal book

3.a. ledger

4.a. memorandum book

Posted Date:-2021-10-28 07:23:59

Question:

Bills payable book is a ___________

1.subsidiary book

2.principal book

3.ledger

4.memorandum book

Posted Date:-2021-10-28 07:55:52

Question:

Depreciation is provided on ______________

1.working capita

2.current asset

3.fixed asset

4.intangible assets

Posted Date:-2021-10-28 07:20:31

Question:

Donations received by a non-profit organisation are usually a ______

1.revenue receipt

2.capital receipt

3.capital expenditure

4.revenue expenditure

Posted Date:-2021-10-28 07:31:47

Question:

Donations received for a special purpose will be taken to _____

1.income and expenditure account.

2.asset side of the balance sheet.

3.liabilities side of the balance sheet.

4.debit side of the ledger.

Posted Date:-2021-10-28 07:58:04

Question:

Errors of carry forward from one year to another year affect ________

1.personal account

2.real account

3.nominal account

4.both personal and real account

Posted Date:-2021-10-28 07:32:20

Question:

Errors which affect one side of an account are called ______

1.single sided errors

2.double sided errors

3.triple sided errors

4.a. compensation error

Posted Date:-2021-10-28 07:55:17

Question:

Expenditure incurred by a publisher for acquiring copyrights is a ________

1.capital expenditure

2.reserve expenditure

3.deferred reserve expenditure

4.capital receipts

Posted Date:-2021-10-28 07:47:00

Question:

Goodwill account is related to _______

1.Nominal account

2.Personal account

3.Real account

4.Tangible account

Posted Date:-2021-10-28 07:18:35

Question:

If payment is made on the average due date it results in ______

1.loss of interest to the creditor

2.loss of interest to the debtor

3.no loss of interest to either of them

4.loss of interest to both the creditor and debtor

Posted Date:-2021-10-28 07:26:34

Question:

In a receipts and payments account the payments are recorded on the ______________ side.

1.credit

2.debit

3.Upper

4.Lower

Posted Date:-2021-10-28 07:30:34

Question:

In accounting the benefit receiving aspect is said to be

1.Debi

2.Credi

3.Debit and Credi

4.None of these

Posted Date:-2021-10-28 07:22:08

Question:

Interest received on special fund investments will be added to ______________ fund in the balance sheet.

1.investment fund

2.bank fund

3.General

4.Special

Posted Date:-2021-10-28 07:49:07

Question:

Payment of compensation to a worker who has been discharged from service is a ___________

1.capital expenditure

2.revenue expenditure

3.deferred revenue expenditure

4.partly capital expenditure

Posted Date:-2021-10-28 07:28:33

Question:

Petty cash may be used to pay __________

1.the expenses relating to postage and conveyance

2.salaries and wages to the final staff

3.for the purchase of furniture and fittings

4.other recurring expense

Posted Date:-2021-10-28 07:46:18

Question:

Purchase journal is kept to record _______

1.cash sales

2.credit sales of assets

3.credit sales of goods

4.credit purchase

Posted Date:-2021-10-28 07:45:46

Question:

Purchases for office furniture on account is recorded in _________

1.general journal

2.cash book

3.purchases book

4.sales book

Posted Date:-2021-10-28 07:27:51

Question:

Receipts and payment account record receipt and payments of _______

1.revenue nature only

2.capital nature only

3.both revenue and capital nature

4.capital receipts

Posted Date:-2021-10-28 07:30:01

Question:

Subscription received in advance by a club is shown on the ______________ side of the balance sheet.

1.Liabilities

2.Assets

3.credit

4.debit

Posted Date:-2021-10-28 07:48:24

Question:

Summary of all balances is known as

1.Ledge

2.Journa

3.Subsidiary book

4.Trial balance.

Posted Date:-2021-10-28 07:22:45

Question:

The cash book records _______

1.all cash payments

2.all cash receipts

3.all cash receipts and payments

4.only credit payments

Posted Date:-2021-10-28 07:53:55

Question:

The credit balance of bank account indicates _______

1.amount payable by the bank

2.amount payable to the bank

3.cash at bank

4.loan from bank

Posted Date:-2021-10-28 07:19:07

Question:

The distinction between capital and revenue is necessary for the preparation of ______

1.fund flow statement

2.receipts and payment account

3.final accounts

4.cash flow statement

Posted Date:-2021-10-28 07:25:03

Question:

The excess of current assets over current liabilities is called ________

1.Net tangible worth

2.Networth

3.Gross working capital

4.Net working capital

Posted Date:-2021-10-28 07:23:17

Question:

The following items are shown in profit and loss appropriation account _________

1.Dividend declared

2.Discount on issue of shares

3.Non-operating expenses

4.Current assets

Posted Date:-2021-10-28 07:29:02

Question:

The information for the preparation of receipt and payments account is taken from _____

1.cash book

2.income and expenditure

3.cash book and balance sheet

4.revenue account

Posted Date:-2021-10-28 07:49:37

Question:

The main purpose of this ______________ accounting is to ascertain profit or loss during a specific period, to show financial position of the business.

1.financial accounting

2.cost accounting

3.management account

4.human resource accounting

Posted Date:-2021-10-28 07:51:09

Question:

The person upon whom the bill of exchange is drawn is called _______

1.Drawer

2.Drawer

3.Payee

4.Maker

Posted Date:-2021-10-28 07:33:28

Question:

The prime function of accounting is to _______

1.record economic data

2.provide the informational basis for action

3.classifying and recording business transactions

4.attain non-economic goals

Posted Date:-2021-10-28 07:52:13

Question:

The statement sent along with purchase return is ________

1.credit note

2.bills payable book

3.debit note

4.purchases return book

Posted Date:-2021-10-28 07:19:48

Question:

The system of recording transactions based on dual aspect concept is called ______

1.double account system

2.double entry system

3.single entry system

4.single account system

Posted Date:-2021-10-28 07:52:39

Question:

Trading account is prepared to find out _______

1.gross profit or loss

2.net profit or loss

3.financial position

4.position of the partners

Posted Date:-2021-10-28 07:56:28

Question:

Wages paid to workers must be debited to ______________ account

1.Wages

2.Machinery

3.Factory expenses

4.Offices expenses

Posted Date:-2021-10-28 07:29:30

Question:

When furniture is sold for cash, the entry should be made in _______

1.sales book

2.cash book

3.Journal.

4.petty cash book.

Posted Date:-2021-10-28 07:44:04

Question:

Which one of the following is Current Asset ______

1.Buildi

2.Furniture

3.Sto

4.Investment

Posted Date:-2021-10-28 07:58:45

Posted on by R4R Team

MBA/MBA Accounting MCQ Question Set 8 Sample Test,Sample questions

Question: ______ is allowed to encourage early cash payment.

Question: A bill of exchange payable after a certain period is known as ______________ bill.

Question: A bill which is not an inland bill is a ______________ bill.

Question: A Cheque received and paid into the bank on the same day id recorded in the ______

Question: A gross profit is transferred to the ______________side of the profit and loss account.

Question: A sale of goods to vidhya for cash should be debited to ______________.

Question: Accounts receivable includes ________

Question: Amount paid for acquiring goodwill is _______

Question: An example of revenue expenditure is ______

Question: Any profit on the sale of furniture of a cricket club will be taken to ______

Question: Any revenue expense for when a separate fund is available will be _________

Question: At the time of endorsement of a bill, the drawer credits ______

Question: Average due date can be called as _______

Question: Bank Reconciliation statement is _________

Question: Bank reconciliation statement is prepared by the _______

Question: Bills payable book is a ________

Question: Bills payable book is a ___________

Question: Depreciation is provided on ______________

Question: Donations received by a non-profit organisation are usually a ______

Question: Donations received for a special purpose will be taken to _____

Question: Errors of carry forward from one year to another year affect ________

Question: Errors which affect one side of an account are called ______

Question: Expenditure incurred by a publisher for acquiring copyrights is a ________

Question: Goodwill account is related to _______

Question: If payment is made on the average due date it results in ______

Question: In a receipts and payments account the payments are recorded on the ______________ side.

Question: In accounting the benefit receiving aspect is said to be

Question: Interest received on special fund investments will be added to ______________ fund in the balance sheet.

Question: Payment of compensation to a worker who has been discharged from service is a ___________

Question: Petty cash may be used to pay __________

Question: Purchase journal is kept to record _______

Question: Purchases for office furniture on account is recorded in _________

Question: Receipts and payment account record receipt and payments of _______

Question: Subscription received in advance by a club is shown on the ______________ side of the balance sheet.

Question: Summary of all balances is known as

Question: The cash book records _______

Question: The credit balance of bank account indicates _______

Question: The distinction between capital and revenue is necessary for the preparation of ______

Question: The excess of current assets over current liabilities is called ________

Question: The following items are shown in profit and loss appropriation account _________

Question: The information for the preparation of receipt and payments account is taken from _____

Question: The main purpose of this ______________ accounting is to ascertain profit or loss during a specific period, to show financial position of the business.

Question: The person upon whom the bill of exchange is drawn is called _______

Question: The prime function of accounting is to _______

Question: The statement sent along with purchase return is ________

Question: The system of recording transactions based on dual aspect concept is called ______

Question: Trading account is prepared to find out _______

Question: Wages paid to workers must be debited to ______________ account

Question: When furniture is sold for cash, the entry should be made in _______

Question: Which one of the following is Current Asset ______

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Question:
______ is allowed to encourage early cash payment.

Question:
A bill of exchange payable after a certain period is known as ______________ bill.

Question:
A bill which is not an inland bill is a ______________ bill.

Question:
A Cheque received and paid into the bank on the same day id recorded in the ______

Question:
A gross profit is transferred to the ______________side of the profit and loss account.

Question:
A sale of goods to vidhya for cash should be debited to ______________.

Question:
Accounts receivable includes ________

Question:
Amount paid for acquiring goodwill is _______

Question:
An example of revenue expenditure is ______

Question:
Any profit on the sale of furniture of a cricket club will be taken to ______

Question:
Any revenue expense for when a separate fund is available will be _________

Question:
At the time of endorsement of a bill, the drawer credits ______

Question:
Average due date can be called as _______

Question:
Bank Reconciliation statement is _________

Question:
Bank reconciliation statement is prepared by the _______

Question:
Bills payable book is a ________

Question:
Bills payable book is a ___________

Question:
Depreciation is provided on ______________

Question:
Donations received by a non-profit organisation are usually a ______

Question:
Donations received for a special purpose will be taken to _____

Question:
Errors of carry forward from one year to another year affect ________

Question:
Errors which affect one side of an account are called ______

Question:
Expenditure incurred by a publisher for acquiring copyrights is a ________

Question:
Goodwill account is related to _______

Question:
If payment is made on the average due date it results in ______

Question:
In a receipts and payments account the payments are recorded on the ______________ side.

Question:
In accounting the benefit receiving aspect is said to be

Question:
Interest received on special fund investments will be added to ______________ fund in the balance sheet.

Question:
Payment of compensation to a worker who has been discharged from service is a ___________

Question:
Petty cash may be used to pay __________

Question:
Purchase journal is kept to record _______

Question:
Purchases for office furniture on account is recorded in _________

Question:
Receipts and payment account record receipt and payments of _______

Question:
Subscription received in advance by a club is shown on the ______________ side of the balance sheet.

Question:
Summary of all balances is known as

Question:
The cash book records _______

Question:
The credit balance of bank account indicates _______

Question:
The distinction between capital and revenue is necessary for the preparation of ______

Question:
The excess of current assets over current liabilities is called ________

Question:
The following items are shown in profit and loss appropriation account _________

Question:
The information for the preparation of receipt and payments account is taken from _____

Question:
The main purpose of this ______________ accounting is to ascertain profit or loss during a specific period, to show financial position of the business.

Question:
The person upon whom the bill of exchange is drawn is called _______

Question:
The prime function of accounting is to _______

Question:
The statement sent along with purchase return is ________

Question:
The system of recording transactions based on dual aspect concept is called ______

Question:
Trading account is prepared to find out _______

Question:
Wages paid to workers must be debited to ______________ account

Question:
When furniture is sold for cash, the entry should be made in _______

Question:
Which one of the following is Current Asset ______