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Online MCQ`s Test For Chapter 1 "MTH-501 Quiz Online Test"

Try The MCQ`s Test For Chapter 1 "MTH-501 Quiz Online Test"

  • Total Questions20

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MTH-501 Quiz Online Test

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Question # 1

Depreciation value of an asset is equal to

Question # 2

Which of the following statement is NOT TRUE about current liabilities?

Question # 3

While making income and expenditure account,excess of income over expenses in a specified accounting is called :

Question # 4

If a business purchase machinery for rs 30000 on 31 january 2008 having life of 8 years,this expenses will be realized under the concept of accrual accounting

Question # 5

Double entry accounting system include:

Question # 6

The allocation of the cost of a tangible plant asset to expenses in the periods ,in which service are received from the asset is termed as

Question # 7

An estimate of the income and expenses needed to carry out business plans for a fiscal year is known as :

Question # 8

In an account if credit< debit side then the balance is known as

Question # 9

The amount of depreciation charged on machinery will be debited to:

Question # 10

Word credit is derived from

Question # 11

The cost of moving planet and machinery to a new site will be treated as:

Question # 12

The favourable balance of profit and loss account should be:

Question # 13

The product that are ready for sale are known as

Question # 14

A decrease in value of a fixed asset due to age wear and tear is known as

Question # 15

Cost incurred for the maintenance of the shop is considered as

Question # 16

Depreciation arises because

Question # 17

In cost of goods sold statement the total factory cost is equal to

Question # 18

A book in which receipts and payments are recorded is known as

Question # 19

Accrued expenses are the example of

Question # 20

Firms chargers depreciation each year :

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