Top 1000+ Solved Financial Accounting MCQ Questions Answer

a. Bad Debts Recovered Account is transferred to Sundry Debtors Account

b. Bill of exchange is drawn by the purchaser

c. Trial Balance establishes the arithmetical accuracy of the accounting records

d. A well maintained asset need not be depreciated

a. At the time of opening new books of account ;

b. At the time of closing the accounts;

c. During the course of accounting period any time ;

d. After certification of accounts

a. Trading A/c and Balance Sheet ;

b. Profit and Loss A/c ;

c. Balance Sheet only

d. Trading A/c only

a. Profit and Loss A/c ;

b. Trading A/c ;

c. Deducted from the concerned assets A/c;

d. Shown on the liability side

a. In Trading A/c ;

b. In Profit and Loss Appropriation A/c ;

c. Profit and Loss A/c

d. Being a non operating item ignored

a. Profit and Loss A/c ;

b. Capitalized with work in progress ;

c. Trading A/c;

d. Shown in Balance Sheet

a. Income from sale of trading goods ;

b. Bad debts recovered ;

c. Interest on FDs ;

d. None

a. 2,40,000 ;

b. 2,10,000 ;

c. 2,00,000 ;

d. 1,80,000

a. 6441 ;

b. 5431 ;

c. 7654 ;

d. 9876

a. 6441 ;

b. 5431 ;

c. 7150 ;

d. 5876

a. Dressing Balance Sheet ;

b. Marshalling Balance Sheet;

c. Formatting Balance Sheet ;

d. Make up of Balance Sheet

a. Profitability ;

b. Financial position ;

c. Both ;

d. Cash inflows

a. 1,600 ;

b. 1,500 ;

c. 1,000 ;

d. 1,800

a. 50,000 ;

b. 55,000 ;

c. 60,000 ;

d. 65,000

a. 30th June,2012

b. 1st July,2012

c. 4th July,2012

d. 4th August,2012