accounting
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accounting questions with answers

2,134 multiple-choice questions. Open any question for its answer and explanation.

  1. A firm has not recorded the bad debts by mistake. Which of the following is the effect of bad debt ommission?
  2. When it is certain that a debt won't be recovered. Which of the following is correct?
  3. A recovery of bad debt
  4. What does 'aged debtors analysis' signify?
  5. Which of the following is the most common cause of bad debt?
  6. Which accounting concept dictates the inclusion of 'provision for doubtful debts' in the financial statements?
  7. Which of the following is a commonly used base to create the provision for doubtful debts?
  8. Provision for doubtful debts account is a/an
  9. Provision for cash discount on debtors is a percentage of
  10. The value of inventories or stock is figured out at the lower of cost and
  11. An overstatement in the value of closing stock overstates all of the following except
  12. All of the following are the methods of inventory costing except
  13. What type of expenses are paid out of Gross Profit?
  14. Which of the following is NOT an example of intangible assets?
  15. Which of the following is an example of business liability?
  16. The unfavorable balance of Profit and Loss account should be
  17. Which of the following account will be credited, if business bought goods on credit from Mr. Z?
  18. Interest on loan paid by business is an example of
  19. Which of the following account will be credited when a typewriter is sold that has been used in the office?
  20. The allocation of the cost of a tangible plant asset to expense in the periods, in which services are received from the asset, is termed as
  21. Which of the following item will be shown on debit side of debtors account?
  22. When one or both aspects of a transaction are recorded in the wrong class or category of account, it is called
  23. Which of the following would NOT be considered as a component of 'cost' of stock?
  24. Which of the following is TRUE about the treatment of insurance premium paid in advance
  25. Which of the following is (are) type(s) of Public Limited Companies?