Top 1000+ Solved Financial Accounting MCQ Questions Answer

a. Straight-line method

b. Written down value method

c. Units-of-production method

d. Sum-of-the years‘-digits method

a. Depreciation cannot be provided in case of loss in a financial year

b. Depreciation is a charge against profit

c. Depreciation is provided in the books only when there is profit

d. Depreciation is an appropriation of profit

a. Cost price of asset ;

b. Market price ;

c. Cost+ Transport+ Installation expenses;

d. Cost or market values whichever is less

a. Routine repair and maintenance ;

b. Misuse ;

c. Obsolescence ;

d. Wear and tear

a. Valuation of fixed assets ;

b. Allocation of cost over the useful life of assets

c. Generating funds replacements of the assets ;

d. Avoidance of tax

a. Building ;

b. Land ;

c. Plant and Machinery ;

d. Office equipment

a. 27% ;

b. 33% ;

c. 10% ;

d. 15%

a. Inventory system ;

b. Survey system ;

c. Annuity system ;

d. Insurance

a. Debtor‘s Account

b. Profit and Loss Account

c. Provision for Doubtful Debt Account

d. Either (b )or (c) above

a. Debit Provision for Bad Debts A/c and credit Debtors A/c

b. Debit Debtors A/c and credit Provision for Bad Debts A/c

c. Debit Provision for Bad Debts A/c and credit Profit & Loss A/c

d. Debit Profit and Loss A/c and credit Provision for Bad Debts A/c.

a. Debtor ;

b. Creditor ;

c. Defaulter ;

d. Offender

a. Fire Insurance of other building ;

b. LIC Premium of proprietor ;

c. Interest on Capital

d. Commission on sales

a. Opening Stock ;

b. Carriage inward ;

c. Wages & Salary ;

d. Postage & Stamps

a. Assets side ;

b. Liability side ;

c. Profit & Loss A/c ;

d. Debited to Capital A/c

a. Asset side ;

b. Liability side ;

c. Netted from Capital ;

d. Profit & Loss A/c