Tag: Cost accounting Mcqs

(A) Trading A/c and Balance Sheet
(B) Profit and Loss A/c
(C) Balance Sheet only
(D) Trading A/c only

(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) 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) Debts included in Sundry Debtors which are doubtful in nature
(B) Uncalled liability on partly paid shares
(C) Claims against the company not acknowledged as debts
(D) Arrears of fixed cumulative dividend

(A) Business entity concept
(B) Money measurement concept
(C) Going concern concept
(D) Matching concept

(A) Prepaid expenses
(B) Trademark
(C) Discount on issue of shares
(D) Outstanding Salaries

(A) Trade mark
(B) Franchise
(C) Accounts Receivable
(D) Secret Profit

(A) Current assets
(B) Intangible assets
(C) Deferred revenue expenditure
(D) Not an asset