accounting questions with answers
2,134 multiple-choice questions. Open any question for its answer and explanation.
- Interest on Capital is _____ for the business
- Accounts payable has ____ balance
- The concept that "an accountant shouldn't anticipate profit, but must provide for all losses"
- Patents accounts are
- Reserve capital means
- Revenue from sale of product ordinarily is reported as part of earning in the period
- When will the bill mature if the date of maturity of a bill is a holiday
- Memorandum Joint Venture account is a
- _____ is not required in Promissory Note
- Loss leads to reduction in
- Transaction between business and owner are recorded following ____ concept
- One of the Fundamental accounting assumption is
- Contra-entries are passed only when
- Petty cash balance is
- Dividends are usually paid as a percentage of
- A proforma invoice is sent by
- Commission to promote credit sale by consignee is known as
- Errors are _____ mistakes
- Which error cannot be revealed on the preparation of trial balance?
- Parties to a bill of exchange are
- Accommodation bill is drawn
- Rs.5000 spent on maintenance of computer is
- The assumption underlying the fixed installment method of depreciation is that of ____ of the asset over its useful life
- _____ will generally show a debit balance
- Profit & Loss account is prepared for a period of one year by following
