Accounting Mcqs

Q.  Which of the following is a Nominal A/c ?

a. Outstanding Salary A/c
b. Rent A/c
c. SBI A/c
d. Debtors A/c


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MCQs:  The Bank Reconciliation Statement is prepared?
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MCQs:  Bank reconciliation is a statement prepared to reconcile__________?
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MCQs:  Bank reconciliation statement is a part of_________?
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MCQs:  Benefits of preparing Bank Reconciliation Statement includes___________?
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MCQs:  Debit balance as per bank pass book mean_____________?
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MCQs:  Which of the following is not a cause of difference in balance as per cash book and balance as per bank pass book___________?
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MCQs:  Provision is created for____________?
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MCQs:  Which of the following is not a method of charging depreciation?
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MCQs:  A second hand car is purchased for 2,00,000 and sold at 1,40,000 after two years. If depreciation is charged @ 10% on SLM method, find the profit or loss on sale of the car?
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MCQs:  A second hand car is purchased for 2,00,000 and sold at 1,40,000 after two years. If depreciation is charged @ 10% on written down value method, find the profit or loss on sale of the Second hand car?
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MCQs:  Which of the following is true with respect to providing depreciation under diminishing balance method?
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MCQs:  Which of the following statements best describes the purpose of depreciation?
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MCQs:  The main objective of providing depreciation is to?
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MCQs:  Depreciation is a process of____________?
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MCQs:  The portion of the acquisition cost of the asset yet to be allocated is known as___________?
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MCQs:  Which of the following statements is true with regard to written down value method of depreciation? i. The rate at which the asset is written off reduces year after year ii. The amount of depreciation provided reduces from year to year iii. The rate of depreciation as well as the amount of depreciation reduce year after year iv. The value of the asset gets reduced to zero over a period of time
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MCQs:  The accounting process of gradually converting the unexpired cost of fixed assets into expenses over a series of accounting periods is_________?
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MCQs:  Which of the following factors are primarily considered to determine the economic life of an asset?
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MCQs:  In which of the following methods, the cost of the asset is spread over in equal proportion during its useful economic life?
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MCQs:  Which of the following statements is correct about Depreciation?
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