(A) Revenue Expenditure
(B) Capital Expenditure
(C) Loss
(D) Deferred Revenue Expenditure
Tag: Financial Accounting Mcq
Which of these document is a replica of customer‘s account in the books of a bank?
(A) Pass Book
(B) Debit Note
(C) Credit Note
(D) Cash Book
Endownfund received by a club is a __.
(A) Revenue Receipt
(B) Capital Receipt
(C) Advance Payment
(D) Revenue Payment
Research and Development Cost A/c appearing in Balance Sheet is a __.
(A) Real A/c
(B) Intangible Asset A/c
(C) Tangible Asset A/c
(D) Personal A/c
When a large number of articles are sent on a sale or return basis,, it is necessary to maintain?
(A) Sale journal
(B) Goods returned journal
(C) Sale or return journal
(D) None of the above.
__ Principle specifies that cost or expenses should be recorded at the same time as the revenue to which they correspond.
(A) Going run concern
(B) Matching
(C) Historical Cost
(D) Prudence
How does depreciation effect basic accounting equation?
(A) Leads to decreases in assets and shareholders equity
(B) Leads to decrease in asset only
(C) Leads to increase in liability and decrease in assets
(D) Leads to decrease in shareholders equity
Undercasting of the total of Sales A/c will affect __.
(A) Gross Profit and Loss
(B) Debtors A/c
(C) Closing Stock
(D) Working Capital