Top 1000+ Solved Financial Accounting MCQ Questions Answer

a. Banking Companies ;

b. Insurance Companies ;

c. Electricity Companies ;

d. All the three

a. Increase in another asset ;

b. Decrease in liability ;

c. Both (a) and (b) ;

d. Either (a) or (b)

a. 24-01-13 ;

b. 25-01-13 ;

c. 26-01-13 ;

d. 23-01-13

a. 5,900 ;

b. 6,000 ;

c. 5,000 ;

d. 5,050

a. Over statement of profit of current year;

b. Over statements of profit of next year;

c. Under statement of profit of current year ;

d. All the three

a. Drawer A/c ;

b. Bank A/c ;

c. BP A/c ;

d. BR A/c

a. 88,000 ;

b. 87,000 ;

c. 85,000 ;

d. 75,000

a. Each journal entry ;

b. Each page ;

c. Each column ;

d. Each account

a. Reducing balance method ;

b. Straight line method ;

c. Annuity method ;

d. None

a. Income and gain A/cs shows increase on credit side

b. Expenses and losses A/cs shows reduction in balance on debit side

c. Assets A/c can have credit balance also ;

d. Debtors are the owing of the business

a. Written down value method ;

b. Straight line method ;

c. Sinking fund method ;

d. Annuity method

a. Installation charges ;

b. Annual repair and maintenance ;

c. Statutory levies ;

d. Freight and insurance

a. Sales returns ;

b. Discount allowed ;

c. Both ;

d. Additional sales

a. Petty cash ;

b. Inventory valuation ;

c. Classification of assets ;

d. None

a. 25,000 ;

b. 40,000 ;

c. 15,000 ;

d. 10,000