Top 150+ Solved Computerized Accounting Software MCQ Questions Answer
Q. Which accounting concept specifies the practice of crediting closing stock to the tradingaccount?
a. Cost
b. Realization
c. Going concern
d. Matching
Q. Amount spent to increasing the earning capacity is a ______ expenditure
a. Capital
b. Revenue
c. Deferred revenue
d. Capital Loss
Q. Change in the capital A/c of proprietor may occur due to ______
a. Profit earned
b. Loss incurred
c. Capital Introduced
d. All of the above
Q. Consistency with reference to application of accounting procedures means
a. All companies in the same Industry should use identical accounting procedures
b. Income & assets have not been overstated
c. Accounting methods & procedures shall be followed uniform basis year after year
d. Any accounting method can be followed as per convenience
Q. If one of the cars purchased by a car dealer is used for business purpose, instead of resale,then it should be recorded by_____
a. Dr Drawing A/c & Cr Purchases A/c
b. Dr Office Expenses A/c & Cr Motor Car A/c
c. Dr Motor Car A/c & Cr Purchases A/c
d. Dr Motor Car & Cr Sales A/c
Q. If wages are paid for construction of business premises ______ A/c is credited and _A/c isdebited.
a. Wages, Cash
b. Premises, Cash
c. Cash, Wages
d. Cash, Premises
Q. Human resources will not appear in the balance sheet according to ______concept.
a. Accrual
b. Going concern
c. Money measurement concept
d. None
Q. Provision for discount on debtors is calculated on the amount of debtors.
a. Before deducting provision for doubtful debts.
b. After deducting provision for doubtful debts.
c. Before deducting actual debts and provision for doubtful debts.
d. After adding actual bad and doubtful debts.
Q. Which of the following is not a Real Account?
a. Cash A/c
b. Investments A/c
c. Outstanding rent A/c
d. Purchases A/c
Q. Which of the following is incorrect?
a. Good will intangible asset
b. Sundry debtors - current asset
c. Loose tools tangible fixed asset
d. Outstanding expenses -current asset.
Q. M/s Stationery Mart will debit the purchase of stationery to _______
a. Purchases A/c
b. General Expenses A/c
c. Stationery A/c
d. None
Q. Small items like, pencils, pens, files, etc. are written off within a year according to _concept.
a. Materiality
b. consistency
c. Conservatism
d. Realization
Q. Business enterprise is separate from its owner according to _________ concept.
a. Money measurement concept
b. Matching concept
c. Entity concept
d. Dual aspect
Q. The policy of anticipate no profit and provide for all possible losses arise due tothe concept of _____
a. Consistency
b. Disclosure
c. Conservatism
d. Matching
Q. The debts, which are to be repaid within a short period (year or less) are known as
a. Current liabilities
b. Fixed liabilities
c. Contingent liabilities
d. All of the above