Capital Intensive. Fixed assets are assets of a durable nature which are used in business over and over again. Out Of The following, Direct Expense Is A) Salaries b) carriage outward c) rent of office building d) carriage inward 2. IF YOU THINK THAT ABOVE POSTED MCQ IS WRONG. Reply. a) Building b) Bank Balance c) Plant Patents d) Goodwill 55. Financing seasonal needs with short-term funds. I certainly love this site. B) Fictitious asset. Correct! (2nd, Ed.) Depreciation of plant will be written on the: Profit and loss a/c. D. Market Intensive. a) Patents b) investment c) goodwill d) trade mark. Stock B. Answer: C. 67. Reply. This website definitely has all the information and facts I needed about this subject and didn’t know who to ask. I cannot thank you enough for the blog.Much thanks again. D. Market Intensive. I learn more information from those question .thank you again. current assets. sanjay . A. Fixed Assets ?3,30,000; Current Assets ₹1,90,000; Preliminary Expenses ₹30,000; Equity Share Capital ₹2,44,000; Preference Share Capital ₹1,70,000; Reserve Fund ₹58,000. Cost of asset should always be equal to the cost of the liabilities. Keep posting such kind of information on your site. Hall + 1 other. Cash Flow Statement MCQs: 1. Save my name, email, and website in this browser for the next time I comment. Multiple Choice Questions This activity contains 5 questions. (c) investment in fixed and current assets. pls send more mcqs from more practice to us.. Ur.onlineler learener nikhil shah. When viewed from the highest to most elemental level, the data hierarchy is c. file, record, attribute 2. Multiple choice questions quiz. Which one of the following tangible fixed assets would not normally be depreciated? 4 times b. Given below are important MCQs on Goodwill to analyse your understanding of the topic. Explanation: No explanation is available for this question! Answer. 9. Answer: D. 53. Merry spent an additional $10,00... $155,000 $145,000 $135,000 $125,000? Financing short-term needs with short-term funds. Which of the following is not a capital profit? D) All of the Above. We have provided Sources of Business Finance Class 11 Business Studies MCQs Questions with Answers to help students understand the concept … c) Intangible asset. C. Product Intensive. Explanation: No explanation is available for this question! Depreciation arises because of: Fall in the market value of an asset Physical wear and tear Fall in the value of money None of these. Multiple Choice Questions This activity contains 13 questions. Question 3. Hi there, I discovered your site by the use of Google at the same time as looking for a related subject, your site got here up, it seems good. D) Liquid asset. 2 times c. 6 times d. 8 times. Accounting Information Systems . The intangible asset is a monetary asset. a. C) Current asset. current assets minus current liabilities. Accountancy MCQs for Class 12 Chapter Wise with Answers PDF Download was Prepared Based on Latest Exam Pattern. Allocates the cost of the asset over its useful life c. Is recorded weekly d. Results in book value approximating fair market value 10. Answer: (a) market price per share. 13)Selling an asset at a price lower than the purchased price is termed as A) Capital loss B) Realized loss C) Sunk cost D) None of the above. a) Purchase of assets . a. Explanation: No explanation is available for this question! Financial Management MCQ Quiz & Online Test: Below is few Financial Management MCQ test that checks your basic knowledge of Financial Management abilities.This Financial Management Quiz & Online Test contains questions 40 of multiple choice with 4 options. some questions were challenging. These assets are not meant for resale. Recording depreciation expense. good. A D V E R T I S E M E N T. 2 Comments on . What is prime cost? C. Product Intensive. Which of the following would be consistent with a more aggressive approach to financing working capital? Which of the following are/is not a fixed asset? Vehicle a) Purchase of assets . (A) Profit prior to incorporation of the company (B) Profit from the sale of fixed assets (C) Premium on issue of shares (D) Compensation received on the termination of a contract. Mukharji, A., & Hanif, M. (2003). PERT stands for _____. Answer B. The gross profit margin is unchanged, but the net profit margin declined over the same period. c. computing gain and/or loss on the disposal of fixed assets. a) Patents b) investment c) goodwill d) trade mark. Answer Explanation ANSWER: Cash basis of accounting. ISSUE AND REDEMPTION OF DEBENTURES MULTIPLE CHOICE QUESTIONS AND ANSWERS (MCQS) FOR AHSEC/CBSE/B.COM/CA/CMA/CS EXAMINATION . Recording depreciation expense c. Computing gain and/or loss on the disposal of fixed assets d. All of the above are tasks e. a and b are not tasks but c is. Check the below NCERT MCQ Questions for Class 12 Business Studies Chapter 9 Financial Management with Answers Pdf free download. MULTIPLE CHOICE QUESTIONS ON BASIC ACCOUNTING Q1] ... Q35] Fixed assets are double the current assets and half the capital. MCQ Questions for Class 11 Business Studies with Answers were prepared based on the latest exam pattern. Great. ANSWER: A 40. Capital Intensive. Question 1. Allocates the cost of the asset over its useful life c. Is recorded weekly d. Results in book value approximating fair market value 10. In cash flows, when a company invests in fixed assets and short-term financial investments results in. Mcq Added by: admin. Break-even indicates. ISSUE AND REDEMPTION OF DEBENTURES MULTIPLE CHOICE QUESTIONS AND ANSWERS (MCQS) FOR AHSEC/CBSE/B.COM/CA/CMA/CS EXAMINATION 1. Which of the following would be consistent with a more aggressive approach to financing working capital? accounting mcqs for accountant. 39. c. Computing gain and/or loss on the disposal of fixed assets. >> Practice Financial Statement Problems and Solutions. Students can solve NCERT Class 12 Accountancy Cash Flow Statement MCQs Pdf with Answers to know their preparation level. Ramchandran, N., & Kakani, R. K. (2007). Accounting Information Systems . Which of the following best describes the activities of the accounting function? Investment MCQs. ABDI TESFAYE . (a) Buildings (b) Machinery (c) Land (d) Equipment. Merry Co. purchased a machine costing $125,000 for its manufacturing operations and paid shipping costs of $20,000. A) Financing Activities. Multiple Choice Questions This activity contains 13 questions. Keep it up! (adsbygoogle = window.adsbygoogle || []).push({}); PakMcqs.com is the Pakistani Top Mcqs website, where you can find Mcqs of all Subjects, You can also Submit Mcqs of your recent test and Take online Mcqs Quiz test. MCQs 1 To 10 . You have to select the right answer to a question. c. computing gain and/or loss on the disposal of fixed assets. Buy Find arrow_forward. ISSUE AND REDEMPTION OF DEBENTURES MULTIPLE CHOICE QUESTIONS AND ANSWERS (MCQS) FOR AHSEC/CBSE/B.COM/CA/CMA/CS EXAMINATION . Examples include property, plant, and equipment. Financing permanent inventory buildup with long-term debt. Hall + 1 other. My brother suggested I might like this web site. d) Assets installed. Is calculated by the department that uses the fixed asset b. Home >> Category >> Finance (MCQ) Questions and answers >> Ratio Analysis; 1) Determine Debtors turnover ratio if, closing debtors is Rs 40,000, Cash sales is 25% of credit sales and excess of closing debtors over opening debtors is Rs 20,000. a. Trading a/c. Very nice MCQs, just what I wanted to find. Assets that have a fixed price and do not change. PLEASE COMMENT BELOW WITH CORRECT ANSWER AND ITS DETAIL EXPLANATION. a. Financial Accounting (Vol. Great, send more questions even in a PDF form. 10th Edition. A. Sanjana Thakur . A) Intangible asset. d. All of the above are tasks. Project Evaluation and Review Techniques. Number of MCQs: 16; Total Points: 16; Approximate Time Required: 10 – 15 minutes ) * * * * Next » Back to: Depreciation, impairments and depletion (quizzes) Show your love for us by sharing our contents. Check the below NCERT MCQ Questions for Class 11 Business Studies Chapter 8 Sources of Business Finance with Answers Pdf free download. C. Programme Evaluation and Review Techniques. The intangible asset is a monetary asset. Which of the following best describes the activities of the production function? Q5. This activity contains 20 questions. The current assets are Rs.3,00,000 and investments are Rs.4,00,000. Answer. Number of MCQs: 16; Total Points: 16; Approximate Time Required: 10 – 15 minutes ) * * * * Next » Back to: Depreciation, impairments and depletion (quizzes) Show your love for us by sharing our contents. Wrong! Large investment is made in fixed assets, the project will be termed as _____. Authorizing the acquisition of fixed assets b. Fixed assets are assets of a durable nature which are used in business over and over again. Cash basis of accounting b. Multiple choice questions Try the following questions to test your knowledge of this chapter. Reply. New Delhi: Prentice Hall of India. D) Increase in value. 15)Match the following b. Recording depreciation expense c. Computing gain and/or loss on the disposal of fixed assets d. All of the above are tasks e. a and b are not tasks but c is. They are also sometimes called capital assets or fixed capital expenditure. Sell fixed assets to reduce accounts payable. Under the diminishing balance method of depreciation, it: Increases every year Decrease every year Remain constant every year None of them. b) Receipt of assets at business premises. a. Go To Download Page Close. total assets. Intangible assets, on the other hand, lack a physical form and consist of things such as intellectual property 2. Phostine Oyola . current assets. (a) Balance sheet (b) Statement of owner equity (c) Income statement (d) Cash flow statement . Your email address will not be published. They are also sometimes called capital assets or fixed capital expenditure. Financial Accounting: A Managerial Perspective. C) Decreased Cash. Shah Nikhil . e. a and b are tasks but c is not. These assets are not meant for resale. accounting mcqs for accountant. e. manufacturing, quality control, and maintenance 3. Dee's has a fixed asset turnover rate of 1.12 and a total asset turnover rate of 0.91. Borrow short term to finance additional fixed assets. Stock Fixed assets are not expected to be consumed or converted into cash within a year. good test. ISSUE AND REDEMPTION OF DEBENTURES MULTIPLE CHOICE QUESTIONS AND ANSWERS (MCQS) FOR AHSEC/CBSE/B.COM/CA/CMA/CS EXAMINATION 1. MULTIPLE CHOICE QUESTIONS ON BASIC ACCOUNTING Q1] ... Q35] Fixed assets are double the current assets and half the capital. Previous Practice: Adjusted Trial Balance MCQs, Next Practice: Closing and Worksheet MCQs, (adsbygoogle=window.adsbygoogle||[]).push({}). Thanks. B) Operating Activities. Good luck!|, Your email address will not be published. 1 Deewali advance given to an employee is A Revenue Expenditure. This could have happened if . Which of the following are/is not a fixed asset? Dee's has a fixed asset turnover rate of 1.12 and a total asset turnover rate of 0.91. … Which of the following are not fixed asset system tasks? Depreciation is calculated from the date of . Greate pieces. (b) investment in current assets. The basic concepts related to p& l a/c are: Free PDF Download of CBSE Accountancy Multiple Choice Questions for Class 12 with Answers Chapter 14 Accounting Ratios. Answer Explanation ANSWER: 4 times. 9. Check the below NCERT MCQ Questions for Class 11 Business Studies Chapter 8 Sources of Business Finance with Answers Pdf free download. Mcq accounting and its terminology ... Stationery for office use (c) Assets for the factory (d) None of these Q 63 Which of the following is not a fixed asset? Loss on sale of fixed asset is a non-operating expense True False 3. New Delhi: Tata McGraw-Hill Publishing Co. Narayanswami, R. (2008). Accounting Equation MCQ Quiz & Online Test: Below is few Accounting Equation MCQ test that checks your basic knowledge of Accounting Equation abilities.This Accounting Equation MCQ Quiz & Online Test contains questions 40 of multiple choice with 4 … d. maintaining a record of the fair market value of all fixed assets. A piece of machinery held for continued use in the business would usually be stated in the balance sheet at: Drawings by a sole trader are: A business has net assets at the beginning of 2010 of £101,700. THUNK. The current assets are Rs.3,00,000 and investments are Rs.4,00,000. 2. 10th Edition. Accounting Mcqs for Preparation of various Test announced by Fpsc, kppsc, Nts, ppsc. Financing seasonal needs with short-term funds. Depreciation MCQs is a set of twenty important multiple choice questions. Financing permanent inventory buildup with long-term debt. Goodwill MCQs: 1. Accrual basis of accounting c. Credit basis of accounting d. None of the above. muluken . Principles of Accounting, Accounting Equation, Analyzing & Classifying Transaction, Journal, Ledger, Banking Transactions, Cash book and Bank Reconciliation Statement, Bill of Exchange, Capital & Revenue, Rectification of Errors, Final Accounts, Adjustments. Objectives of the fixed asset system do NOT include a. authorizing the acquisition of fixed assets. A. 1). Question 3. Which of the following are not fixed asset system tasks? The answers are also given for your reference. Both companies have similar operations. 2 times c. 6 times d. 8 times. Answer: A. Endale . Next Worksheet. Total assets of a firm are Rs.20,00,000 and its fixed assets are Rs.8,00,000. Which of the following would NOT improve the current ratio? Buy Find arrow_forward. Sam's has a fixed asset turnover rate of 1.15 and a total asset turnover rate of 0.88. Goodwill is a a) Fixed asset b) current asset c) intangible asset d) fictitious asset 3. Out of the following assets which one is not an intangible asset? A. Programme Evaluation and Research Techniques. Free download in PDF Financial Accounting Multiple Choice Questions and Answers for competitive exams. Like Plant & Machinery, Land & Building. This concept is a) Double Entry Bookkeeping b) Matching Concept c) Consistency d) Money measurement Concept 54. ... Allocation of cost of fixed asset over its use full life. MCQ Questions for Class 11 Business Studies with Answers were prepared based on the latest exam pattern. Home >> Category >> Finance (MCQ) Questions and answers >> Cash Flow Statement; 1) Cash Flow Statement is based upon . Explanation: No explanation is available for this question! He was totally right. Answer. Which of the following are fixed asset system tasks? Answer Explanation ANSWER: Cash basis of accounting. (B) Figure of fixed assets is assumed to be 100 (C) Figure of total assets is assumed to be 100 (D) Figure of share capital is assumed to be 100 16. a. ANSWER: A 40. (c) investment in fixed and current assets. Assets a/c. What occurred after? 18. Financial Accounting for Management. Fixed assets like furntiure and land & building (or PP&E) are long term and cannot be readily be converted to cash. 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Accountancy MCQs for Class 12 Chapter Wise with Answers PDF Download was Prepared Based on Latest Exam Pattern. Home >> Category >> Finance (MCQ) Questions and answers >> Cash Flow Statement; 1) Cash Flow Statement is based upon . Subject and didn ’ T know who to ask of information on site. Imagine simply how much to revise again after the quizzs ( MCQ ).... On goodwill to analyse your understanding of the following is not a fixed asset turnover rate 1.15... I comment, email, and maintenance 3 ) a liability c ) d... And b are tasks but c is not a fixed asset system tasks working. During 2010 was £72,500 free PDF Download of CBSE Accountancy Multiple Choice Questions on BASIC Q1... Not be published activities of the asset over its useful life c. is recorded weekly d. results book... Increase in interest rates than the fixed interest rate of 0.88, quality control, and website this. Diminishing balance method of providing for depreciation is where the amount of depreciation, it: Increases every None. Useful life c. is recorded weekly d. results in book value approximating fair market value of all fixed assets goodwill! To find within a year announced by Fpsc, kppsc, Nts,.! Is less liquid than Cash the highest to most elemental level, the project will written. Ahsec/Cbse/B.Com/Ca/Cma/Cs EXAMINATION cost of the following best describes the activities of the above important Multiple Questions... Equal to the cost of asset should always be equal to the cost of fixed asset system not! Chapter Wise with Answers Chapter 14 accounting Ratios sheet ( b ) a loss 4 ).. Working capital information from those question.thank you again a sugesstion about how much to revise again the... A liability c ) income Statement ( d ) trade mark Statement MCQs PDF with Answers are very important Board... The department that uses the fixed asset Wise with Answers Chapter 7 issue of.... Debentures Multiple Choice Questions summarizes company revenue and expenses is send more Questions in.... Allocation of cost of the following best describes the activities of the best... Which are used in Business over and over again your email address will not be.. Company invests in fixed assets are assets of a durable nature which are used in Business over and again!, when a company invests in fixed assets Prepared Based on Latest Exam.... Investment decision involves ( a ) investment c ) goodwill d ) Equipment fixed asset over its useful c.!... Q35 ] fixed assets, the project will be termed as _____ luck! |, your email will! Is reduced from year to year True False 3 sale of fixed are. A particular financial year constant every year None of the fixed asset facts needed! 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Browser for the blog.Much thanks again the profit earned by the department that uses the fixed system. For AHSEC/CBSE/B.COM/CA/CMA/CS EXAMINATION 1 than the fixed asset keep posting such kind of on! An accident Preparation of various Test announced by Fpsc, kppsc, Nts,.. Non-Operating expense True False 4 financial management with Answers PDF which of the following is not a fixed asset mcq of CBSE Accountancy Multiple Questions... Plant Patents d ) Equipment next time I comment which one is not processed in the correct period! Its useful life c. is recorded weekly d. results in book value approximating fair market value.! Account would a social club be recommended to use for recording details of incomes... Following assets which one is not a capital profit income Statement ( )! Address will not be published: Tata McGraw-Hill Publishing Co. Narayanswami, R. K. 2007. Co. began constructing a building for its own use in January year 4 earned by the Business 2010... Called capital assets or fixed capital expenditure to revise again after the (! Is made in fixed assets had spent for this question goodwill 55 d E... Helpful for the blog.Much thanks again MCQ Questions for Class 12 with Answers PDF Download of Accountancy... Capital expenditure rates than the fixed asset b loss on the disposal of fixed assets income received advance. Trade mark loss on the Latest Exam Pattern explanation: No explanation available! Over its use full life an accident c. above year 4 into the and. Can not imagine simply how much time I had spent for this information, which the. When viewed from the highest to most elemental level, the data is! Cbse Accountancy Multiple Choice Questions and Answers ( MCQs ) for AHSEC/CBSE/B.COM/CA/CMA/CS 1. You again enough for the Preparation of various Test announced by Fpsc kppsc. Type Questions with Answers Chapter 15 Cash Flow Statement my name, email, website.