Top 1000+ Solved Financial Accounting MCQ Questions Answer

a. UK ;

b. Canada ;

c. Germany ;

d. All the three

a. 8 ;

b. 9 ;

c. 7 ;

d. 10

a. CBI ;

b. CAG ;

c. RBI ;

d. Trade union

a. For improving the reliability of financial statements

b. Harmonizing accounting policies

c. Elimination of non-comparability between financial statements

d. All the three

a. 40 ;

b. 42 ;

c. 39 ;

d. 41

a. 29 ;

b. 30 ;

c. 28 ;

d. 26

a. International Accounting Standard Board ;

b. Indian Accounting Standard Board;

c. Institution of Accounting School Board ; ;

d. None

a. Corporate bodies ;

b. Proprietorship concerns ;

c. Co-operative societies

d. All the three

a. Natural resource ;

b. Live Stock ;

c. Forest and plantation produced ;

d. All the three

a. Change in Accounting Policy ;

b. Prior-Period Adjusting ;

c. Change in Accounting Standards ;

d. All the three

a. Provision for payment of bonus ;

b. Provision for depreciation ;

c. Provision for dividend ;

d. Provision for doubtful debts

a. Liabilities which are payable within 12 months

b. Liabilities which are payable immediately

c. Liabilities which payable after one accounting year

d. Liabilities which are readable within 3 months

a. Accounting Policy

b. Financial Investment presentation

c. Financial Investment Reinvestment Measurement

d. Financial Investment disclosure

a. Debit balance ;

b. Credit balance ;

c. Either (a) or (b) ;

d. No balance at all

a. Usage ;

b. Passage of time ;

c. Fall in market demand ;

d. Wear and tear