Accounting Mcqs


Q.  Cost of goods sold excludes___________?

a. Opening Stock
b. Carriage inward
c. Wages & Salary
d. Postage & Stamps


ANSWER: See Answer
 
No explanation is available for this question!
MCQs:  Insurance prepaid is shown as:___________?
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MCQs:  Depreciation appearing in the Trial Balance should be?
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MCQs:  A club paid subscription fees of `1,400. Out of which ` 200 is prepaid. In such case
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MCQs:  Bad debts recovered is:
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MCQs:  The adjustment to be made for prepaid expenses is____________?
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MCQs:  On scrutiny of a firm‘s books of accounts, it was observed that the following errors have occurred in the previous years but have not yet been rectified. i. Depreciation for 2011-2012- 7,000 understated ii. Accrued expenses as at March 31, 2013 – 10,000 understated The impact of this on the reported net income for the year ending March 31, 2013 is
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MCQs:  Which of the following entries is correct in respect of reserve for discounts on accounts payable?
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MCQs:  Sundry debtors as per Trial Balance is 43,000 which includes 2,200 due from ‗H in respect of goods sent to him on approval basis, the cost price of which is 1,800. Rectification would involve:
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MCQs:  Goods in stock worth 800 are destroyed by fire and the Insurance Co. is accepted the claim for 600. Adjustment would involve
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MCQs:  Prepaid expenses are valued on the Balance Sheet at
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MCQs:  Which of the following relationships is/are false?
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MCQs:  Gross Profit is equal to_________?
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MCQs:  Which of the following shall not be deducted from net profit while calculating managerial remuneration?
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MCQs:  Which of the following equations is correct?
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MCQs:  Which of the following is not true with regard to preparation of Profit & Loss Account?
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MCQs:  The Profit and Loss Account shows the:
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MCQs:  Which of the following will not appear in Profit and Loss Account of a business?
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MCQs:  Which of the following is not a financial statement?
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MCQs:  If unexpired insurance appears in the Trial Balance, it should be:
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MCQs:  Which of the following are/is not a fixed asset?
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