Tag: Financial Accounting Mcq

(A) Sales A/c
(B) Purchase A/c
(C) Wages A/c
(D) Depreciation A/c

(A) in the period during which they are earned
(B) in the period when they are collected
(C) in the period when they are accounted for
(D) any of the above three which occur first

(A) Usage
(B) Passage of time
(C) Fall in market demand
(D) Wear and tear

(A) Debit balance
(B) Credit balance
(C) Either (a) or (b)
(D) No balance at all

(A) Accounting Policy
(B) Financial Investment presentation
(C) Financial Investment Reinvestment Measurement
(D) Financial Investment disclosure

(A) Liabilities which are payable within 12 months
(B) Liabilities which are payable immediately
(C) Liabilities which payable after one accounting year
(D) Liabilities which are readable within 3 months

(A) Provision for payment of bonus
(B) Provision for depreciation
(C) Provision for dividend
(D) Provision for doubtful debts

(A) Change in Accounting Policy
(B) Prior-Period Adjusting
(C) Change in Accounting Standards
(D) All the three