Accounting Mcqs

Q.  Which of these types of expenditure would not be treated as a Capital Expenditure?

a. Acquisition of an Asset
b. Extension of an Asset
c. Improvement of the existing Asset
d. Maintenance of the Asset


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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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MCQs:  Depreciation is calculated on the____________?
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MCQs:  Which of the following is an external cause of depreciation?
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MCQs:  Which of the following is not depreciated?
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MCQs:  ____________is also known as Appraisal system of depreciation?
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MCQs:  Bad debts recovered account will be transferred to______________?
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MCQs:  The entry for creating a Provision for bad debts is_____________?
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MCQs:  When a person purchasing goods on credit he becomes a_________in the books of the seller?
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MCQs:  Cost of goods sold excludes___________?
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MCQs:  Tax deducted at source A/c appears in___________?
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MCQs:  Investment in own share A/c appears in____________?
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MCQs:  Payments received in advance from a customer for a contract can be__________?
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MCQs:  If a company has contingent liabilities, they appear in the__________?
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