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Accounting MCQ

Accounting Question 1

The principle of “Debit the receiver and credit the giver” is applicable to:

If other, please specify:

Which accounting assumption assumes that an enterprise will continue in operation long enough to carry out its existing objectives and commitments?

If other, please specify:

Accounting Question 2

For a company the amount of sales are 6, 00,000/- and profit made is Rs.50, 000/-. This company’s break even sales are Rs.5, 00,000, what are the Fixed expenses of the company. (No variable cost in it.)

A company normally sells its products for $20 per unit, which includes a profit margin of 25%. However, the selling price has fallen to $15 per unit. This company's current inventory consists 200 units purchased at $16 per unit. Replacement cost has now fallen to $13 per unit. Calculate the value of inventory at the lower of cost or market.

Accounting Question 3

Security for a loan and becoming void when the debt is repaid

Accounting Question 4

"Goodwill" is:

The deferred income tax liability:

Accounting Question 5

Working Capital’ means:

Working capital is a measure of

Accounting Question 6

Which is not a method of Depreciation:

Accounting Question 7

Quick Ratio comments on:

Accounting Question 8

Depreciation is charged on

Accounting Question 9

Which of the following transactions will result in increase in Assets & increase in Liabilities

Accounting Question 10

Cost of Goods sold Rs.13, 300, Gross profit Rs.3, 200/- Net Profit Rs.700/- than Amount of sales will be:

Accounting Question 11

The credit balance of Income & Expenditure account at the end of the years Shows:-

Accounting Question 12

Given Capital Rs.5, 00,000/- Creditors Rs.1, 00,000, Revenue during the period of Rs.3, 30,000 & Expense Rs.1, 40,000. Determine the amount of total Assets

6. A brand new company has machinery costing $7,500, a building costing $13,000, notes Payable of $7,000 and cash of $2,500. If the owner adds $8,500 of inventory, assets are now Equal to:

Accounting Question 13

The amount spent in the process of earnings revenue is known as an expense.

Accounting Question 14

Amount spent for acquisition of fixed assets is a capital expenditure

Accounting Question 15

Revenues are amounts earned by selling the products / services of a concern.

Accounting Question 16

1 ¾ + 2 ¼ = ____________

Which numbers should replace both the question marks in the following equation - ?/388=97/?

Completion Of Series 5, 6, 9, 15, _____40

9,11,20,31,_____82

Accounting Question 17

3,8,15,24,_____48

Which word does NOT belong with the others?

Careful is to be cautious as boastful is to be

Here are some words translated from an artificial language. godabim means kidney stones, romzbim means kidney beans romzbako means wax beans, Which word could mean "wax statue"?

Accounting Question 18

Which word does NOT belong with the others?

In the first 10 overs of a cricket game, the run rate was only 3.2. What should be the run rate in The remaining 40 overs to reach the target of 282 runs?

All the tulips in Zoe's garden are white. All the pansies in Zoe's garden are yellow. All the flowers in Zoe's garden are either white or yellow If the first two statements are true, the third statement is

Which word does NOT belong with the others?

Accounting Question 19

Pen is to poet as needle is to

Here are some words translated from an artificial language. granamelke means big tree pinimelke means little tree melkehoon means tree house Which word could mean "big house"?

Look at this series: 14, 28, 20, 40, 32, 64... What number should come next?

The value of (6+6+6+6) ÷6 / (4+4+4+4÷4) is:

Accounting Question 20

In a telephone directory, which of the following names appears in the middle?

A watch reads 4.30. If the minute hand points East, the direction in which the hour hand will point

A + B means A is the sister of B; A – B means A is the brother of B; A * B means A is the daughter of B; Then the relation which tells that E is the maternal uncle of D is:

Choose the odd one:

Accounting Question 21

Here are some words translated from an artificial language. daftafoni means advisement imodafta means misadvise imolokti means misconduct Which word could mean "statement"?

Which word does NOT belong with the others?

Secretly is to openly as silently is to

Look at this series: 2, 4, 6, 8, 10... What number should come next?

Accounting Question 22

Which word does NOT belong with the others?

A grocer has a sale of Rs. 6435, Rs. 6927, Rs. 6855, Rs. 7230 and Rs. 6562 for 5 consecutive months. How much sale must he have in the sixth month so that he gets an average sale of Rs. 6500?

A goods train runs at the speed of 72 kmph and crosses a 250 m long platform in 26 seconds. What is the length of the goods train?

Find the odd man out:

Accounting Question 23

If the diagonal of a rectangle is 17cm long and its perimeter is 46cm, the area of the rectangle in square centimeters is:

Which word does NOT belong with the others?

Look at this series: 544, 509, 474, 439, ... What number should come next?

Embarrassed is to humiliated as frightened is to

Accounting Question 24

Pride is to lion as shoal is to

Look at this series: 201, 202, 204, 207, ... What number should come next?

Which word does NOT belong with the others?

The average of 20 numbers is zero. Of them, at the most, how many may be greater than zero?

Accounting Question 25

Completion Of Series 5,6,9,15,_____40

9,11,20,31,_____82

Accounting Question 26

I’m not very good-----------mathematics.

You have-----------lovely pictures in your house.

“------------You---------your teacher?” “Yes, he is a good man.”

There are _____ oranges on the table

Accounting Question 27

---------------- Coffee is there?

We were together nearly every day --------------we left school twelve Years later.

I didn’t see Sandy very often------------ we talked on the telephone.

We stopped for three-quarters of an hour------------New York Airport.

Accounting Question 28

Where is your mother? Is she------------the hairdresser’s again?

I’ll finish the work------------two weeks.

Boys and girls go ¬------------dancing.

When do you take----------your wrist watch?

Accounting Question 29

I’ll phone----------you tomorrow.

Our village lies _____ two high mountains.

You may write-------------a pen or--------------a pencil.

A country is quieter _____ a city.

Accounting Question 30

The house is 50 meters _____ the sea.

He spends his time _____ the banks of the river.

Prague is one of the _____ cities in Europe,

How many children _____ they _____?

Accounting Question 31

What is the short cut to put the filter on data?

What is the Short cut Key in Microsoft Excel for Undo?

Which of the following functions is used to arrange data in ascending / descending order in Microsoft Excel?

Ctrl + Page Up and Ctrl+ Page down Short cut keys are used

Accounting Question 32

What function displays row data in a column or column data in a row?

When integrating Word and Excel, Word is usually the

The number of rows in a worksheet is

When a formatted number does not fit within a cell, it displays

Accounting Question 33

What symbol is used to enter number as text?

Data can be arranged in ascending or descending order by using

To move to the previous worksheet press

The accounting style shows negative numbers in

Accounting Question 34

The process of identifying specific rows and columns so that certain columns and rows are always visible on the screen is called.

When you create two or four separate windows containing part of the spreadsheet that can be viewed, you have created

A quick way to return to a specific area of a worksheet is to type in the _____

Which keyboard shortcut opens the Go To dialog box?

Accounting Question 35

The default MS Excel file extension is?

In which table we find Picot table command?

Which of the following function is used to take screenshot of the window in Excel?

Which short cut is used to select the whole data in Excel?