WIP stands for
Correct Answer :
Download Objective type questions of
Visit our PDF store
Get all objective type questions of Accounts Fundamental MCQ
comments powered by Disqus.
Cash is an example of
Trial Balance is prepared after the preparation of Profit and Loss Account.
WDV stands for
Goodwill is not a fictitious asset.
Any type of error affects the agreement of Trial Balance.
Expenditure, which result in acquisition of permanent assets, is a capital expenditure.
Which of the following events is not a transaction?
The first step of accountancy is
Capital of the business is an example of external liability.
Copyright is an example of
The basic unit of measurement of the accounting system is ______________.
Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.
Business ventures, which are started for a predefined period, are known as _____________ventures
Depreciation cannot be provided in case of loss, in a financial year.
WIP stands for
The life span of a company is dependent on the life span of the
Accrual concept implies accounting on cash basis.
E. & O.E.
All events are transactions but all transactions are not events.
Transfer to General Reserve is a charge against
If the totals of debit and credit columns of a Trial Balance are equal, it implies correctness of books…
Which of the following equation(s) is(are) true
The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and useful life is 10 years. The…
Fixed Assets are stated in the balance sheet at their market value.
All credit sales are recorded in
Providing depreciation ensures sufficient cash for asset replacement.
The aggregate of direct material, direct labour and direct expenses is known as
Choose the odd one out
The cost of a machine is Rs.6,00,000. The rate of depreciation is 10%. The depreciation for the 3rd…
According to the Concept of Conservatism, an accountant should
Join our Chat Group
Join our Twitter Group
Join our Pinterest Group
Join our Facebook Group
Subscribe to our Email Newsletter