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"

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

00:00
Question # 1

Transaction, having short-term effects are known as

Question # 2

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

Question # 3

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

Question # 4

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

Question # 5

Octori duty paid on machinery, is an example of

Question # 6

All revenue expenditure are taken to

Question # 7

Capitalized expenditure are shown in

Question # 8

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

Question # 9

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

Question # 10

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

Question # 11

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

Question # 12

Distinction between capital and revenue items is important for the preparation

Question # 13

The transactions, the effect of which is not exhausted with in the current accounting year are called

Question # 14

Expenditure, which helps to maintain the business efficiency is called

Question # 15

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

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11th Principles of Accounting Chapter 13 Test

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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 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
3 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
4 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
5 Heavy expenditure on advertisement for making a new product is a
A. Revenue expenditure
B. Deferred expenditure
C. Capital loss
D. Non-recurring expenditure
6 Bad debts are
A. Deferred expenditure
B. Revenue expenditure
C. Capital expenditure
D. None of these
7 Which one of the following is appeared in the balance sheet
A. Revenue expenditure
B. Capital expenditure
C. Deferred expenditure
D. Both b & c
8 Cost of redecorating a cinema hall is a
A. Capital expenditure
B. Capital loss
C. Revenue expenditure
D. None of these
9 Wages paid for the construction of building is an example of
A. Revenue expenditure
B. Capital expenditure
C. Recurring expenditure
D. Short-term expenditure
10 Octori duty paid on machinery, is an example of
A. Revenue expenditure
B. Recurring expenditure
C. Capital expenditure
D. Both a & b

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