McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Business Administration (BBA) , Cost Accounting .
| 201. |
Which of the following account will have credit balance? |
| A. | Bank over draft |
| B. | Carriage inwards |
| C. | Prepaid expenses |
| D. | Bills receivable |
| Answer» A. Bank over draft | |
| 202. |
Three column cash book records ………………………… |
| A. | Only cash transactions |
| B. | All transactions |
| C. | Cash bank and discount transactions |
| D. | Cash purchase and cash sales transactions |
| Answer» C. Cash bank and discount transactions | |
| 203. |
Trial balance is prepared according to : |
| A. | Total method |
| B. | Balance method |
| C. | Total and balance method |
| D. | All the three |
| Answer» B. Balance method | |
| 204. |
A person who owes money to the business is a ………………………… |
| A. | Debtor |
| B. | Creditor |
| C. | Investor |
| D. | Supplier |
| Answer» A. Debtor | |
| 205. |
A ……………………….. is person to whom business owes money. |
| A. | Debtor |
| B. | Creditor |
| C. | Investor |
| D. | Propriator |
| Answer» B. Creditor | |
| 206. |
………………………….denote goods brought for sale. |
| A. | Sale |
| B. | Expense |
| C. | Purchase |
| D. | Revenue |
| Answer» C. Purchase | |
| 207. |
…………….. is an example of wasting asset |
| A. | Cash |
| B. | Company man |
| C. | Mines |
| D. | Loan |
| Answer» C. Mines | |
| 208. |
………………….. is the major source of revenue of any business. |
| A. | Investment |
| B. | Advances |
| C. | Loan |
| D. | Sales |
| Answer» D. Sales | |
| 209. |
……………….. refers the amount invested by the owner into business. |
| A. | Loan |
| B. | Advance |
| C. | Capital |
| D. | Prepaid expences |
| Answer» C. Capital | |
| 210. |
Aseets having definite shape and physical existensce are called………. |
| A. | Tangible asset |
| B. | Intangible asset |
| C. | Wasting asset |
| D. | Fictitious asset |
| Answer» A. Tangible asset | |
| 211. |
……………….. is an example for fictitious asset. |
| A. | Machinery |
| B. | Stock |
| C. | Patent |
| D. | Preliminary expenses |
| Answer» D. Preliminary expenses | |
| 212. |
……………… is the collection of all accounts. |
| A. | Journal |
| B. | Voucher |
| C. | Invoices |
| D. | Ledger |
| Answer» D. Ledger | |
| 213. |
…………………… is the book of original entry. |
| A. | Journal |
| B. | Voucher |
| C. | Invoices |
| D. | Ledger |
| Answer» A. Journal | |
| 214. |
The process of ascertaining the balance of a particular account on a given date is : |
| A. | Posting |
| B. | Journalizing |
| C. | Balancing |
| D. | Accounting |
| Answer» C. Balancing | |
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