![Mcqmate logo](https://mcqmate.com/images/logos/logo-black.png)
![Mcqmate logo](https://mcqmate.com/images/logos/logo-white.png)
McqMate
Chapters
201. |
Weighted average method is a generally accepted accounting principle? |
A. | True |
B. | False |
C. | none |
D. | none |
Answer» A. True |
202. |
If WIP opening stock is 10,000 units, work done in the period is 13,000 and WIP closing stock is 5,000 units. The equivalent completed unit during the period is: |
A. | 19,000n |
B. | 18,000 |
C. | 17,000 |
D. | none |
Answer» B. 18,000 |
203. |
US GAAP allows FIFO, LIFO and Weighted average method to value stock? |
A. | True |
B. | False |
C. | all |
D. | none |
Answer» A. True |
204. |
Weighted average method for inventory is permissible in: |
A. | IFRS only |
B. | US GAAP only |
C. | IFRS & US GAAP Both |
D. | none |
Answer» B. US GAAP only |
205. |
Weighted average method is same as: |
A. | Specific identification method |
B. | LIFO |
C. | FIFO |
D. | None of the above |
Answer» D. None of the above |
Done Reading?