accounting questions with answers
2,134 multiple-choice questions. Open any question for its answer and explanation.
- Goodwill is classified as which one of the following assets?
- Which of the following does not appear in Balance sheet?
- Current assets are also known as
- The expenses related to the main operations of a business are referred to as
- A current asset that is convertible to cash within 3 months can be referred to as
- What is depreciation?
- Under which depreciation method, the amount of depreciation expenses remains same throughtout the life of the asset?
- A company purchased a vehicle for Rs.6000. It will be used for 5 years and its residual value is expected to be Rs.1000. What is the annual amount of depreciation using straight line method of depreciation?
- Which of the following is the normal balance of an accumulated depreciation account?
- How trial balance shows the accumulated depreciation?
- Which of the following is a double entry for deprecation expenses?
- An alternative term used for accumulated depreciation expenses?
- Which of the following is/are kind of depreciation expenses?
- In depreciation calculation, the useful life of a fixed asset is
- Depreciable amount + Residual value of a fixed asset = ?
- Cost of a fixed asset - Accumulated depreciation expenses of the fixed asset = ?
- The purchase price of a software that will be used for more than 12 months should be regarded as
- XYZ firm has imported a machine from abroad. Which of the following is NOT the element of the machine's cost?
- Which of the following foxed assets is not depreciated in the ordinary circumstances?
- In the calculation of depreciation, all of the following items are actually estimates except
- Under which method of depreciation, the amount of depreciation expenses remains constant throughout the life of the asset?
- An increase in the value of fixed asset is referred to as
- The term _______ is generally used for the depreciation of natural resources
- Which of the following is a biological asset?
- Which of the following is the effect on net income if a business decreases its provision for bad debts?
