McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Diploma in Computerized Accounting .
| 51. |
Transactions are firstly entered in: |
| A. | Journal |
| B. | Ledger |
| C. | Trial balance |
| D. | None of these |
| Answer» A. Journal | |
| 52. |
A trial balance is prepared: |
| A. | To prepare p &l a/c |
| B. | To test the arithmetical accuracy |
| C. | For making adjustments. |
| D. | To balance the a/c |
| Answer» B. To test the arithmetical accuracy | |
| 53. |
Capital is treated as liability because of: |
| A. | Dual aspect concept |
| B. | Money measurement concept |
| C. | Matching concept |
| D. | Entity concept |
| Answer» D. Entity concept | |
| 54. |
______ are the liabilities which are payable after a long period |
| A. | Fixed liabilities |
| B. | Miscellaneous expenditure |
| C. | Current liabilities |
| D. | Contingent liabilities |
| Answer» A. Fixed liabilities | |
| 55. |
______ is an example for long term liabilities |
| A. | Creditors |
| B. | Debentures |
| C. | Overdraft |
| D. | Bills payable |
| Answer» B. Debentures | |
| 56. |
_______ is the collection of all accounts |
| A. | Journal |
| B. | Voucher |
| C. | Invoices |
| D. | Ledger |
| Answer» D. Ledger | |
| 57. |
_______ is the book of original entry. |
| A. | Journal |
| B. | Voucher |
| C. | Invoices |
| D. | Ledger |
| Answer» A. Journal | |
| 58. |
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 | |
| 59. |
_______ is the expense which is unpaid at the end of the accounting period. |
| A. | Outstanding expenses |
| B. | Prepaid expenses |
| C. | Proposed expenses |
| D. | Working capital. |
| Answer» A. Outstanding expenses | |
| 60. |
______ is an example for tangible assets. |
| A. | Furniture |
| B. | Debtors |
| C. | Patent |
| D. | Discount on issue of shares and debentures |
| Answer» A. Furniture | |
| 61. |
Which account is the odd one? |
| A. | Furniture |
| B. | Land and buildings |
| C. | Stock of raw materials |
| D. | Plant and machinery |
| Answer» C. Stock of raw materials | |
| 62. |
Which of the following is the example of external users of accounting information? |
| A. | Government |
| B. | Owners |
| C. | Management |
| D. | Employee |
| Answer» A. Government | |
| 63. |
A ______ is sent to a customer when he returns the goods. |
| A. | Debit note |
| B. | Credit note |
| C. | Proforma invoice |
| D. | Bill |
| Answer» B. Credit note | |
| 64. |
A ______ is sent to the seller when he is taken back the sold goods. |
| A. | Debit note |
| B. | Credit note |
| C. | Proforma invoice |
| D. | Bill |
| Answer» A. Debit note | |
| 65. |
Which of the following is not a transaction? |
| A. | Goods are purchased on cash basis for rs. 1000. |
| B. | Salaries paid for the month of may 2009. |
| C. | Land is purchased for rs. 10 lakhs. |
| D. | An employee is dismissed from the job. |
| Answer» D. An employee is dismissed from the job. | |
| 66. |
Bank account is _________. |
| A. | Personal account |
| B. | Real account |
| C. | Nominal account |
| D. | Intangible real account |
| Answer» B. Real account | |
| 67. |
Income earned but not received is known as __________ |
| A. | Advance income |
| B. | Proposed income |
| C. | Earned income |
| D. | Accrued income |
| Answer» D. Accrued income | |
| 68. |
_____ refers the amount invested by the owner into business. |
| A. | Loan |
| B. | Advance |
| C. | Capital |
| D. | Prepaid expenses |
| Answer» C. Capital | |
| 69. |
_______ is the major source of revenue of any business. |
| A. | Investment |
| B. | Advances |
| C. | Loan |
| D. | Sales |
| Answer» D. Sales | |
| 70. |
Assets acquired for long term use in the business are called _________. |
| A. | Fixed assets |
| B. | Current assets |
| C. | Fictitious assets |
| D. | Liquid asset |
| Answer» A. Fixed assets | |
| 71. |
A person who owes money to the business is a ____________. |
| A. | Debtor |
| B. | Creditor |
| C. | Investor |
| D. | Supplier |
| Answer» A. Debtor | |
| 72. |
Accrued income comes under |
| A. | Current liability |
| B. | Capital |
| C. | Current asset |
| D. | Fixed asset |
| Answer» C. Current asset | |
| 73. |
Taxes paid come under which group? |
| A. | Capital |
| B. | Loans and liabilities |
| C. | Direct expenses |
| D. | Duties and taxes |
| Answer» D. Duties and taxes | |
| 74. |
Accounting principles are divided into two types. These are |
| A. | Accounting concepts |
| B. | Accounting conventions |
| C. | Accounting standard |
| D. | 1 and 3 both |
| Answer» D. 1 and 3 both | |
| 75. |
The term current assets does not include __________ |
| A. | Debtors |
| B. | B/r |
| C. | Stock |
| D. | Goodwill |
| Answer» D. Goodwill | |
| 76. |
What is the utility of tally vault password? |
| A. | It will lock the period of company |
| B. | It will lock all voucher entries for that company |
| C. | It will not show the company name in the company select list. |
| D. | None of these |
| Answer» C. It will not show the company name in the company select list. | |
| 77. |
F12 is known as |
| A. | Company features |
| B. | Company configuration |
| C. | Accounting features |
| D. | None of these |
| Answer» B. Company configuration | |
| 78. |
To activate MRP feature from gateway of tally initially we need to press |
| A. | F11 |
| B. | F12 |
| C. | F10 |
| D. | Alt + f1 |
| Answer» A. F11 | |
| 79. |
There are _________ predefined ledgers |
| A. | One |
| B. | Three |
| C. | Two |
| D. | Four |
| Answer» A. One | |
| 80. |
To print a voucher from tally we need to press |
| A. | Ctrl + p |
| B. | Shift + p |
| C. | Alt + p |
| D. | Ctrl + alt + p |
| Answer» C. Alt + p | |
| 81. |
Closing stock come under------ |
| A. | Current asset |
| B. | Fixed asset |
| C. | Stock in hand |
| D. | Direct income |
| Answer» C. Stock in hand | |
| 82. |
E-mail can be used to |
| A. | Send mail directly from tally screen |
| B. | To send e-mail |
| C. | Download information |
| D. | Access help |
| Answer» A. Send mail directly from tally screen | |
| 83. |
In tally screen right extreme displays------ |
| A. | Selected companies |
| B. | Current date |
| C. | Gate way of tally |
| D. | Button bar |
| Answer» D. Button bar | |
| 84. |
Retained earnings is an alias of |
| A. | Indirect income |
| B. | Reserve and surplus |
| C. | Pital account |
| D. | Vestments |
| Answer» B. Reserve and surplus | |
| 85. |
Capital of the company is included under |
| A. | Capital account |
| B. | Fixed liabilities |
| C. | Loans and advances |
| D. | Current liabilities |
| Answer» B. Fixed liabilities | |
| 86. |
Carriage inwards can be included in |
| A. | Direct expenses |
| B. | Indirect expenses |
| C. | Current liability |
| D. | Misc. Expenses |
| Answer» A. Direct expenses | |
| 87. |
Function key for changing date is |
| A. | Alt + f2 |
| B. | F2 |
| C. | F5 |
| D. | F6 |
| Answer» B. F2 | |
| 88. |
Function key for changing current period is |
| A. | Alt + f2 |
| B. | F2 |
| C. | F5 |
| D. | F6 |
| Answer» A. Alt + f2 | |
| 89. |
The branch of accounting which analyses and interprets the overall data is----- |
| A. | Financial accounting |
| B. | Cost accounting |
| C. | Management accounting |
| D. | None of these |
| Answer» C. Management accounting | |
| 90. |
To view detailed form of every report, we have to press---- |
| A. | Alt+ f2 |
| B. | Alt +f1 |
| C. | Alt + f3 |
| D. | F6 |
| Answer» B. Alt +f1 | |
| 91. |
Function key for receipt voucher is? |
| A. | F3 |
| B. | F4 |
| C. | F5 |
| D. | F6 |
| Answer» D. F6 | |
| 92. |
Function key for payment voucher is? |
| A. | F3 |
| B. | F4 |
| C. | F5 |
| D. | F6 |
| Answer» C. F5 | |
| 93. |
Function key to select purchase voucher is? |
| A. | F8 |
| B. | F9 |
| C. | F4 |
| D. | F3 |
| Answer» B. F9 | |
| 94. |
Function key to select sales voucher is? |
| A. | F8 |
| B. | F9 |
| C. | F4 |
| D. | F3 |
| Answer» A. F8 | |
| 95. |
Function key to select journal voucher is? |
| A. | F5 |
| B. | F6 |
| C. | F7 |
| D. | F2 |
| Answer» C. F7 | |
| 96. |
Function key to select contra voucher is? |
| A. | F4 |
| B. | F8 |
| C. | F9 |
| D. | F7 |
| Answer» A. F4 | |
| 97. |
To activate cost centre and cost category feature we have to select |
| A. | Configuration |
| B. | F 11 features |
| C. | Group creation |
| D. | Voucher creation |
| Answer» B. F 11 features | |
| 98. |
The left hand side of tally screen shows |
| A. | Current date |
| B. | Last entered voucher |
| C. | Gate way of tally |
| D. | List of selected companies |
| Answer» D. List of selected companies | |
| 99. |
For selecting debit note voucher we have to use ----- key |
| A. | Ctrl f9 |
| B. | Ctrl f8 |
| C. | Alt f7 |
| D. | Alt f8 |
| Answer» A. Ctrl f9 | |
| 100. |
For selecting credit note voucher we have to use ----- key |
| A. | Ctrl f9 |
| B. | Ctrl f8 |
| C. | Alt f7 |
| D. | Alt f8 |
| Answer» B. Ctrl f8 | |
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