accounting questions with answers
2,134 multiple-choice questions. Open any question for its answer and explanation.
- An expenditure whose benefit is finished or enjoyed immediately is called
- A company's merchandise, raw materials, finished and unfinished products which have not yet been sold is known as
- What is nature of Capital account?
- The assets which have a limited useful life are termed as
- A decrease in value of a fixed asset due to age, wear and tear is known as
- In balance sheet, fixed assets are shown at
- The accrual basis of accounting records revenues when they are
- Which of the following is true when a debtor pays his dues?
- Which of the following ratios indicate the short-term liquidity of a business?
- The maximum amount beyond which a company is not allowed to raise funds by issue of shares is
- Based on which of the following concepts, is share capital account shown on the liability side of a balance sheet?
- Which of the following is not considered as Research & Development costs?
- Amortization of unidentified intangible assets is in terms of
- Declared dividend should be classified in the balance sheet as a
- If the opening inventory of a business is undercast, it will
- Which of the following is not a financial statement?
- Provision for bad debts is made as per the
- Purchase of fixed assets on credit is originally recorded in
- The claims against the company not acknowledged as debts are shown as
- Under cash basis of accounting, revenue is recognized when
- The trade discount on purchases is recorded
- Which of the following is a leverage ratio?
- The document inviting offers from public to subscribe for the debentures or shares of a body corporate is a
- The portion of the acquisition cost of an asset yet to be allocated is known as
- Which of the following appears in the profit and loss appropriation account?
