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

Which one of the following is appeared in the balance sheet

Question # 2

Octori duty paid on machinery, is an example of

Question # 3

Expenditure is revenue expenditure because

Question # 4

It is the price of goods sold or services provided by a business to its customers

Question # 5

Expenditure is a capital expenditure because

Question # 6

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

Question # 7

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

Question # 8

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

Question # 9

Heavy expenditure on advertisement for making a new product is a

Question # 10

An expenditure, incurred to improve the position of the business is known as

Question # 11

Wages paid for the construction of building is an example of

Question # 12

Preliminary expenses paid in the formation of a company is a

Question # 13

Capitalized expenditure are shown in

Question # 14

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

Question # 15

Cost of redecorating a cinema hall is a

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

Sr.# Question Answer
1 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
2 Octori duty paid on machinery, is an example of
A. Revenue expenditure
B. Recurring expenditure
C. Capital expenditure
D. Both a & b
3 Expenditure is revenue expenditure because
A. It is intended to benefit the current period
B. The amount involved is small
C. It is deducted from the gross sale proceeds
D. None of these
4 An expenditure, which increases the utility or productive capacity of an asset is treated as
A. Revenue expenditure
B. Capital expenditure
C. Deferred expenditure
D. None of these
5 Distinction between capital and revenue items is important for the preparation
A. Balance sheet
B. Trading and profit or loss a/c
C. Bank reconciliation statement
D. Both a & b
6 Expenditure is a capital expenditure because
A. The amount involved is heavy
B. It is the personal expenditure of the owner out of his capital
C. It is intended to benefit the future period
D. It is a recurring expenditure
7 Heavy expenditure on advertisement for making a new product is a
A. Revenue expenditure
B. Deferred expenditure
C. Capital loss
D. Non-recurring expenditure
8 A revenue expenditure, the benefit of which is not confined to one accounting year is called
A. Non-current expenditure
B. Revenue expenditure
C. Future expenditure
D. Deferred expenditure
9 The amount invested by the owner in the business to produce revenue is known as
A. Income
B. Asset
C. Capital
D. Liability
10 Capitalized expenditure are shown in
A. Trading a/c
B. Profit or loss a/c
C. Income statement
D. Balance sheet

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