Question # 1

Treble column cash book has three columns of:

Choose an answer

Cash, bank and discount

Income, expense and bank

Cash, bank and profit or loss

None

Manufacturing concern cycle is ---------- than trading concern cycle:

Choose an answer

Shorter

Greater

Medium

None of above

Assets which have to no market value are called

Choose an answer

Fictitious assets

Liquid assets

Intangible assets

Real assets

If spoiled goods are considered a normal part of production process than debit to

Choose an answer

Work in process

General expense

F.o.H control

None of above

Which ratio tells how many times in a year stock is used up and replaced?

Choose an answer

Gross profit ratio

Net profit ratio

Cost ratio

None of these

What are bad debts?

Choose an answer

Debts which are irrecoverable from the debtors

Debts which are recoverable from the debtors

Debts which are irrecoverable from the creditors

Debts which are recoverable from the creditors

What is negotiable instrument?

Choose an answer

A document which is not transferable

A document which is transferable

A document which is accepted

None

Any written evidence of a business transaction is known as

Choose an answer

Voucher

Pay-in-slip

Debit note

Credit note

Tenor is the period of time ------------ which a bill becomes payable

Choose an answer

Before

After

Both a and b

None

Rebate is the --------- in the amount of bill paid

Choose an answer

Premium

Increase

Expense

Concession

A credit purchases are:

Choose an answer

If goods purchased and payment made at the same time

If goods purchased and payment not made at the same time

If goods sold and payment receive at the same time

If goods sold and payment not receive at the same time

How many branches are there in accounting?

Choose an answer

1

3

2

4

Doubtful debts are shown on:

Choose an answer

Profit side of statement of profit and loss

Liabilities side of balance sheet

Asset side of balance sheet

Not shown anywhere

What is accounting period?

Choose an answer

It is a time for which business prepares its financial statements

It is time for which business prepares its profit and loss statement

It is a time for which business prepares its balance sheet

None

The cost flow must match the

Choose an answer

Output

Outflow

Inflow

Workflow

Which one is not include in factory overhead?

Choose an answer

Power hear & light

Indirect labour cost

Depreciation of plant

Salary of accountant

Goodwill is ----------- for company.

Choose an answer

Intangible asset

Fixed asset

Current asset

Quick asset

Lead time is the time between the time on item reaches --------------- and ---------- of

Choose an answer

Order level, dispatch of material

Order level, maximum level

Maximum level, minimum level

Order level, actual receipt

Difference in cost of alternative choices is called

Choose an answer

Total costing

Differential costing

Full costing

Variable costing

The primary objective of cost accounting is to

Choose an answer

Control cost

Calculate profit

Avoid cost

All of above

More Classes

Other Links

NAT IIM Management Science Finance Hard Test MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer