Previous Year Solved Question Papers

Previous Year Solved Question Papers

MCQs on Financial Accounting - 22

1. ————deals with depreciation account.

(a) AS 3 
(b) AS 4
(c) AS5 
(d) AS6



2. Journal is a book of ....................... entry

(a) original 
(b) secondary
(c) subsidiary 
(d) none of these



3. A furniture account will indicate a ....................... balance

(a) debit 
(b) credit
(c) cost
(d) no balance



4. The process of recording transactions in a journal is known as ............

(a) recording 
(b) journalizing
(c) posting 
(d) balancing



5. ....................... is a process of entering in the ledger the information given in the journal

(a) recording 
(b) journalizing
(c) posting
(d) balancing


6. An entry which has more than one debit and or credit is called ...........

(a) single 
(b) multiple
(c) compound 
(d) none of these


7. ....................... Is the principal book of account 

(a) journal 
(b) ledger
(c) trial balance 
(d) none of these



8. An asset account shows a ....................... balance

(a) debit 
(b) credit 
(c) no balance
(d) none of these



9. An ....................... is an amount which is incurred in return for some benefit and the benefit is enjoyed immediately

(a) income 
(b) loss
(c) revenue 
(d) expense



10. ....................... is a special term indicating the recording of entries in the ledger.

(a) recording 
(b) journalizing
(c) posting 
(d) balancing



More MCQs on Financial Accounting

No comments:

Post a Comment