Top 150+ Solved Advance Accounting MCQ Questions Answer
Q. Deposits from Society and individuals should be shown separately to the ……..side of balance sheet.
a. Liabilities
b. Current Assets
c. Education Fund
d. Fixed Assets
Q. The primary objective in the formation of Co-operative credit Society is ………
a. promoting of saving
b. To Maintain Stock Register
c. A and C only
d. to get maximum profit
Q. …………..is the source of Government to increase their revenue.
a. Tax
b. Profit
c. memorandum
d. Expenses
e. 8th July 2019
Q. GST stands for………….
a. Goods and service tax.
b. Government Service tax
c. God down Surcharge
d. B and C
e. 8th July 2019
Q. ……………is the motive given to the parliament and legislation of every state
a. . one nation one tax
b. Live and let live
c. Health is Wealth
d. learn and earn
e. 8th July 2019
Q. …………….collected by central government on an Intra state sale.
a. CGST
b. SGST
c. IGST
d. GST
e. 8th July 2019
Q. ………….Collected by the State Government on an Intra state sale.
a. CGST
b. SGST
c. IGST
d. GST
e. 8th July 2019
Q. ………….Collected by the Central Maharashtra for Inter state sale.
a. CGST
b. SGST
c. IGST
d. GST
e. 8th July 2019
Q. ……….and will share revenue equally between the central and State.
a. CGST & SGST
b. SGST &IGST
c. IGST & CGST
d. GST & IGST
e. 8th July 2019
Q. on…………………..the GST law came into the force.
a. 1st July 2017
b. 2nd June 2018
c. 1st June 2017
d. 18th July 2019
e. 8th July 2019
Q. …………..is an Indirect Tax which has replaced many indirect taxes in India.
a. GST
b. Income Tax
c. IGST
d. Service Tax
e. 8th July 2019
Q. The online version of collecting tax was introduced in the year…………
a. 2004
b. 2006
c. 2005
d. 2015
e. 8th July 2019
Q. ………….method of branch accounting is usually adopted when the branch is ofthe small size.
a. Treading.
b. Balance sheet
c. memorandum
d. debtors
Q. The normal and abnormal stock of goods doesn’t appear in branch account asthe closing stock is at the…………….figure.
a. Adjusted
b. profit.
c. balance.
d. loss
Q. Stock and Debtors method of branch accounting is generally used wherebranch turnover is substantially
a. loss
b. lower
c. High.
d. Profit