Top 1000+ Solved Financial Accounting MCQ Questions Answer

a. Capitalised

b. Taken as income

c. Treated as a liability

d. Special reserve

a. Added to the specific fund

b. Shown in Income and expenditure account

c. Shown as separate liability

d. None of the above

a. An income

b. An asset

c. Liability

d. None of the above

a. Cash in hand

b. Surplus or deficiency

c. Capital account

d. None of the above

a. Profit and loss account

b. Manufacturing account

c. Income and expenditure account

d. All of the above

a. Income and Expenditure A/c

b. Trading and profit and loss A/c

c. Trading A/c only

d. Profit and loss A/c only

a. Debit and credit balances of ledger A/c

b. Cash receipts and payments

c. Income and Expenses

d. All of the above

a. Credit side of Income and Expenditure A/c

b. Asset side of Balance Sheet

c. Liabilities side of Balance Sheet

d. Debit side of Income and Expenditure A/c

a. Asset

b. Revenue receipt

c. Capital Receipt

d. None of the above

a. Nominal A/c

b. Real A/c

c. Personal A/c

d. Both nominal and personal A/c

a. Nominal A/c

b. Real A/c

c. Personal A/c

d. None of the above

a. Cash in hand

b. Surplus or deficiency

c. Capital A/c

d. Profit or Loss

a. Assets

b. revenue income

c. capital income

d. Liabilities

a. Capital Receipt

b. Revenue Receipt

c. Asset

d. Profit

a. Capital items

b. Revenue items

c. A and B both

d. None of these