Top 1000+ Solved Financial Accounting MCQ Questions Answer
Q. What is minimum Rent?Sol:
a. Payment for use of land which is fixed
b. Payment for the use of land on the basis of output
c. A payment made to owner
d. None of the above
Q. The minimum rent can ……………………….be proportionately, if there is a stoppagedue to strike.Sol:
a. Increase
b. Decrease
c. No change
d. all
Q. Royalty Account is ……Sol:
a. Nominal account
b. Real account
c. Personal Account
d. None of the above
Q. Short working is ………….Sol:
a. Excess of minimum rent over the actual royalty
b. Excess of actual royalty over minimum rent
c. Excess of standard output over Actual output
d. None of the above
Q. Surplus is…………….Sol:
a. Excess of minimum rent over the actual royalty
b. Excess of actual royalty over minimum rent
c. Excess of actual royalty over minimum rent
d. None of the above
Q. When the royalty are less than the minimum rent ?Sol:
a. Royalties account is debited with the actual amount of royalties earned
b. Royalties account is debited with minimum rent
c. Royalties account is debited with the amount paid to landlord
d. Royalties account is debited with the excess of minimum rent over actual rent
Q. Which of the following statement is false?Sol:
a. Recoupable short working is a current assets
b. Lapsed short working is a real account
c. Short working is the part of minimum rent not represent by the use of right
d. Both A and B