Accounting MCQs with answers Page - 25

Here, you will find a collection of MCQ questions on Accounting. Go through these questions to enhance your preparation for upcoming examinations and interviews.

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A

Admin • 833.24K Points
Coach

Q. Which document is issued by a buyer when returning goods to the seller?

  • (A) Credit Note
  • (B) Invoice
  • (C) Debit Note
  • (D) Payment Receipt

A

Admin • 833.24K Points
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Q. Unpresented cheques will be:

  • (A) Added to bank balance
  • (B) Subtracted from bank balance
  • (C) Ignored
  • (D) Recorded as liability

A

Admin • 833.24K Points
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Q. Wages paid for construction of building is:

  • (A) Revenue Expenditure
  • (B) Capital Expenditure
  • (C) Deferred Revenue
  • (D) Revenue Loss

A

Admin • 833.24K Points
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Q. Freight charges on purchase of machinery should be:

  • (A) Charged to Freight A/c
  • (B) Debited to Profit & Loss A/c
  • (C) Added to Machinery A/c
  • (D) Credited to Cash A/c

A

Admin • 833.24K Points
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Q. Which of the following is not a cash inflow?

  • (A) Issue of shares
  • (B) Sale of fixed assets
  • (C) Depreciation
  • (D) Bank loan received

A

Admin • 833.24K Points
Coach

Q. The balance of Drawings A/c is transferred to:

  • (A) Trading A/c
  • (B) Capital A/c
  • (C) Profit & Loss A/c
  • (D) Cash A/c

A

Admin • 833.24K Points
Coach

Q. Accounting Standards in India are issued by:

  • (A) RBI
  • (B) SEBI
  • (C) ICAI
  • (D) Ministry of Finance

A

Admin • 833.24K Points
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Q. Which of the following appears in the profit and loss account?

  • (A) Capital
  • (B) Salaries
  • (C) Debtors
  • (D) Cash in hand

A

Admin • 833.24K Points
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Q. If a fixed asset is sold for less than its book value, it results in:

  • (A) Capital profit
  • (B) Capital loss
  • (C) Revenue profit
  • (D) Revenue loss

A

Admin • 833.24K Points
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Q. Provision for doubtful debts is created on:

  • (A) Sundry creditors
  • (B) Cash sales
  • (C) Sundry debtors
  • (D) Outstanding liabilities

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