Accounting MCQs with answers Page - 27

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 • 802.91K Points
Coach

Q. If wages are paid for installation of machinery, it is treated as:

  • (A) Revenue Expenditure
  • (B) Capital Expenditure
  • (C) Deferred Revenue Expenditure
  • (D) Administrative Expense

A

Admin • 802.91K Points
Coach

Q. Which of the following is an indirect expense?

  • (A) Carriage Inward
  • (B) Carriage Outward
  • (C) Wages
  • (D) Purchases

A

Admin • 802.91K Points
Coach

Q. Net profit is calculated in which account?

  • (A) Capital Account
  • (B) Trading Account
  • (C) Profit and Loss Account
  • (D) Balance Sheet

A

Admin • 802.91K Points
Coach

Q. Purchase return is also called:

  • (A) Return Outward
  • (B) Return Inward
  • (C) Credit Note
  • (D) Debit Note

A

Admin • 802.91K Points
Coach

Q. What type of account is capital account?

  • (A) Personal
  • (B) Real
  • (C) Nominal
  • (D) Temporary

A

Admin • 802.91K Points
Coach

Q. The process of transferring entries from journal to ledger is called:

  • (A) Journalizing
  • (B) Posting
  • (C) Balancing
  • (D) Summarizing

A

Admin • 802.91K Points
Coach

Q. Which document is issued when goods are returned to the supplier?

  • (A) Credit Note
  • (B) Debit Note
  • (C) Voucher
  • (D) Invoice

A

Admin • 802.91K Points
Coach

Q. Rent paid in advance is shown as:

  • (A) Liability
  • (B) Asset
  • (C) Expense
  • (D) Income

A

Admin • 802.91K Points
Coach

Q. Which of the following is not a cost classification?

  • (A) Fixed Cost
  • (B) Variable Cost
  • (C) Direct Cost
  • (D) Revenue Cost

A

Admin • 802.91K Points
Coach

Q. Prime cost includes:

  • (A) Direct material + Direct wages
  • (B) Indirect material + Direct expenses
  • (C) Direct material + Direct wages + Direct expenses
  • (D) Factory cost + Office overheads

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