First Year Principles of Accounting Chapter 13 Online MCQ Test for 1st Year Principles of Accounting Chapter 13 (Capital and Revenue)

This online test contains MCQs about following topics:

. Difference between capital and revenue expenditures . Difference between capital and revenue receipts . Deferred revenue expenditure . Capistalised expenditure . Capital and revenue profit . Capital and revenue losses . Capital and revenue payments

ICOM Part 1 Accounting Ch 13 Test
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Principles of Accounting

MCQ's Test For Chapter 13 "Principles of accounting Icom Part 1 English Medium Chapter 13 Online Test"

Try The MCQ's Test For Chapter 13 "Principles of accounting Icom Part 1 English Medium Chapter 13 Online Test"

  • Total Questions15

  • Time Allowed20

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Principles of accounting Icom Part 1 English Medium Chapter 13 Online Test

00:00
Question # 1

An expenditure, which is incurred to increase to profit earning capacity of a business concern, is called

Question # 2

The amount invested by the owner in the business to produce revenue is known as

Question # 3

Wages paid for the construction of building is an example of

Question # 4

Depreciation of fixed assets used in the business is an example of

Question # 5

An expenditure, which is non-recurring and irregular is called

Question # 6

Heavy expenditure on advertisement for making a new product is a

Question # 7

An expenditure, which increases the utility or productive capacity of an asset is treated as

Question # 8

A revenue expenditure, the benefit of which is not confined to one accounting year is called

Question # 9

Transaction, having short-term effects are known as

Question # 10

Preliminary expenses paid in the formation of a company is a

Question # 11

An expenditure, which is temporarily increase the profit making capacity of the business is called

Question # 12

All revenue expenditure are taken to

Question # 13

Expenditure is revenue expenditure because

Question # 14

An expenditure, which is completely exhausted with in the current accounting period is known as

Question # 15

Expenditure is a capital expenditure because

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ICom Part 1 Principles of Accounting Chapter 13 Important MCQ's

Sr.# Question Answer
1 Preliminary expenses paid in the formation of a company is a
A. Capital expenditure
B. Deferred expenditure
C. Revenue expenditure
D. Capital loss
2 The transactions, the effect of which is not exhausted with in the current accounting year are called
A. Revenue transaction
B. Capital transaction
C. Current transaction
D. Monetary transaction
3 The amount invested by the owner in the business to produce revenue is known as
A. Income
B. Asset
C. Capital
D. Liability
4 Which one of the following is appeared in the balance sheet
A. Revenue expenditure
B. Capital expenditure
C. Deferred expenditure
D. Both b & c
5 All revenue expenditure are taken to
A. Trading a/c
B. Trading & profit or Loss a/c
C. Profit or loss a/c
D. Balance sheet
6 Heavy expenditure on advertisement for making a new product is a
A. Revenue expenditure
B. Deferred expenditure
C. Capital loss
D. Non-recurring expenditure
7 An expenditure, incurred to improve the position of the business is known as
A. Deferred expenditure
B. Revenue expenditure
C. Capital expenditure
D. Recurring expenditure
8 Depreciation of fixed assets used in the business is an example of
A. capital expenditure
B. Revenue expenditure
C. Deferred expenditure
D. None of these
9 Bad debts are
A. Deferred expenditure
B. Revenue expenditure
C. Capital expenditure
D. None of these
10 An expenditure, which is temporarily increase the profit making capacity of the business is called
A. Deferred expenditure
B. Capital expenditure
C. Revenue expenditure
D. Non-recurring expenditure

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