General knowledge(GK)/Financial Accounting MCQ Part – 1 Sample Test,Sample questions

adplus-dvertising

Question:
 If debit side of receipt and payment account exceeds credit it represents __________
 
 
 
 

1.Cash at bank

2.Bank overdraft

3.Deficit balance

4.Surplus balance

Posted Date:-2022-01-03 07:11:30


Question:
 Lighting expenses should be divided among the different departments on the basis of _________
 
 
 
 

1.light points

2.HP of machine

3.sales ratio

4.floor are

Posted Date:-2022-01-03 07:11:30


Question:
 Loss of usefulness occasioned by improved production methods is known as_______
 
 
 
 

1.physical deterioration

2.obsolescence

3.disuse

4.inadequacy

Posted Date:-2022-01-03 07:11:30


Question:
 Power expenses should be divided among the different departments on the basis of _____
 
 
  
 

1.light points

2.HP of machine

3.sales ratio

4.floor are

Posted Date:-2022-01-03 07:11:30


Question:
 The balance in the asset account will not be reduced to zero under this method _____
  
 
 

1.straight line method

2.written down value metho

3.annuity metho

4.depreciation fund metho

Posted Date:-2022-01-03 07:11:30


Question:
 The permanent continuing and gradual shrinkage in the book value of a fixed asset is called _______
  
 
 

1.depreciation

2.appreciation

3.reduction

4.computation

Posted Date:-2022-01-03 07:11:30


Question:
 Under depreciation fund method depreciation is charged to ______
 
 

1.profit and loss account

2.trading account

3. balance sheet

4.p & l appropriation account

Posted Date:-2022-01-03 07:11:30


Question:
An advance receipt of subscription from a member of the non-profit organization is considered as an __________
 
 
 
 

1.Expense

2.Liability

3.Equity

4.Asset

Posted Date:-2022-01-03 07:11:30


Question:
Carriage inward expenses should be divided among the different departments on the basis of ___________
 
 
 

1.light points

2.purchase value

3.sales ratio

4.floor are

Posted Date:-2022-01-03 07:11:30


Question:
Deficit balance can be shown in balance sheet as
 
 
 
 

1.Liability

2.Assets

3.Owner s equity

4.None of above

Posted Date:-2022-01-03 07:11:30


Question:
Depreciation applies to________
 
 
 
 

1.current assets

2.wasting assets

3.intangible assets

4.fixed assets

Posted Date:-2022-01-03 07:11:30


Question:
Depreciation arises because of_____
 
 
 
 

1.fall in the market value of an asset

2.physical wear and tear

3.fall in the value of money

4.rise in the value of money

Posted Date:-2022-01-03 07:11:30


Question:
Depreciation fund is also called ______
 
 

1.reserve fun

2.compensation fun

3.workers fun

4.sinking fun

Posted Date:-2022-01-03 07:11:30


Question:
Depreciation is a process of _________
 
 
 
 

1.valuation

2.reductionallocation

3.allocation

4.appreciation

Posted Date:-2022-01-03 07:11:30


Question:
Depreciation is charged on the_________
 
 
 

1.market value

2.Depreciable value

3.purchase value

4.sale value

Posted Date:-2022-01-03 07:11:30


Question:
Depreciation is charged on_________
 
 
 
 

1.continuous basis

2.temporary basis

3.daily basis

4.monthly basis

Posted Date:-2022-01-03 07:11:30


Question:
Diminishing balance method is also called _________
  
 
 

1.written down value method

2.annuity metho

3.depreciation fund metho

4.Fixed installment metho

Posted Date:-2022-01-03 07:11:30


Question:
ESI PF payable by employer should be divided among the different departments on the basis of ________
 
 
 
 

1.number of worker in each department

2.number of machines in each department

3.wages of each department

4.floor area occupied by each department

Posted Date:-2022-01-03 07:11:30


Question:
Estimated sale value of the asset at the end of its economic life is known as _____
 
 
 
 

1.purchase value

2.market value

3.written down value

4.residual value

Posted Date:-2022-01-03 07:11:30


Question:
Expenses which can be directly identified with or incurred for particular department are called __________
 
 
 

1.direct expenses

2.indirect expenses

3.monthly expenses

4.weekly expenses

Posted Date:-2022-01-03 07:11:30


Question:
Expenses which cannot be identified with a particular department are called_______
 
 
 
 

1.direct expenses

2.indirect expenses

3.monthly expenses

4.weekly expenses

Posted Date:-2022-01-03 07:11:30


Question:
Factory manger s salary should be divided among the different departments on the basis of _____________
 
 

1.time devoted to each department

2. time spent in each department

3.time assigned to each department

4. time wasted in each department

Posted Date:-2022-01-03 07:11:30


Question:
Fire insurance and repairs on assets should be divided among the different departments on the basis of _________
 
 
 
 

1.light points

2.HP of machine

3.value of each assets

4.floor are

Posted Date:-2022-01-03 07:11:30


Question:
If debit side of income and expenditure account is greater it is termed as
 

1.Excess of income over expenditure

2.Net income

3.Surplus balance

4.Deficit balance

Posted Date:-2022-01-03 07:11:30


Question:
If the asset is sold the provision for depreciation relating to the asset sold is transferred to _______
 
 
 

1.asset account

2.liability account

3.P & L account

4.trading account

Posted Date:-2022-01-03 07:11:30


Question:
Income and expenditure account is based on _________
 
 Accrual accounting
 
 

1.Cash accounting

2.Accrual accounting

3.Government accounting

4.Management accounting

Posted Date:-2022-01-03 07:11:30


Question:
Income tax authorities recognize this method ______
 
 
 

1.straight line method

2.written down value metho

3.annuity metho

4.depreciation fund metho

Posted Date:-2022-01-03 07:11:30


Question:
Mines quarries oilfields and forest are example of _______
 
 
 
 

1.fixed assets

2.current assets

3.wasting assets

4.intangible assets

Posted Date:-2022-01-03 07:11:30


Question:
Provision for depreciation account appears on the _______
 
 
 
 

1.Asset side

2.Liability side

3.P & L account debit side

4.P & L account credit side

Posted Date:-2022-01-03 07:11:30


Question:
Reciept and payment account includes _________
 

1.Revenue items

2. Capital items

3. Both capital and revenue items

4.None of above

Posted Date:-2022-01-03 07:11:30


Question:
Rent and rates should be divided among the different departments on the basis of ____
 
 
 

1.light points

2.HP of machine

3.sales ratio

4.floor are

Posted Date:-2022-01-03 07:11:30


Question:
Repairs to buildings maintenance of premises should be divided among the different departments on the basis of _________
 
 
 

1.light points

2.HP of machine

3.sales ratio

4.floor are

Posted Date:-2022-01-03 07:11:30


Question:
Selling expenses should be divided among the different department on the basis of _______
 
 
 
 

1.light points

2.HP of machine

3.sales ratio

4.floor are

Posted Date:-2022-01-03 07:11:30


Question:
The amount of depreciation charged on machinery will be debited to_____
 
 
 
 

1.machinery account

2.depreciation account

3.cash account

4.bank account

Posted Date:-2022-01-03 07:11:30


Question:
The asset account appears in the books at original cost when a ______
 
 
  

1.P & L account is maintaine

2.balance sheet is maintaine

3.provision for depreciation account is

4.maintaine

Posted Date:-2022-01-03 07:11:30


Question:
The control of non-trading concern rest in the hand of
 
 
 

1.Directors

2.Managing agents

3.Governing body

4.Promoters

Posted Date:-2022-01-03 07:11:30


Question:
The difference between the book value at the beginning and at the end (revaluation amount) is __________
 
 

1.depreciation

2.appreciation

3.reduction

4.computation

Posted Date:-2022-01-03 07:11:30


Question:
The main objective of providing depreciation is _______
 
 
 
 
 

1.to calculate true profit

2.to calculate financial position

3.to reduce tax burden

4.to reduce profit

Posted Date:-2022-01-03 07:11:30


Question:
The main source of income for non-trading concern is _________
 
 
 

1.Subscription

2.Sales

3.Dividend on investment

4.entrance fee

Posted Date:-2022-01-03 07:11:30


Question:
The receipts and payments account of a non-profit organization is a __________
 
 
 
 

1.Nominal account

2.Real account

3.Income statement account

4.Financial statement

Posted Date:-2022-01-03 07:11:30


Question:
Under annuity method the amount of depreciation is found out from _____
 
 

1.log tables

2.sinking fund tables

3.annuity tables

4.present value tables

Posted Date:-2022-01-03 07:11:30


Question:
Under depreciation fund method the amount of depreciation is calculated with reference to ________
 
 
 
 

1.log tables

2.sinking fund tables

3.annuity tables

4.present value tables

Posted Date:-2022-01-03 07:11:30


Question:
Under the diminishing balance method depreciation is calculated on____
 
 
 
 

1.original value

2.written down value

3.scrap value

4.market value

Posted Date:-2022-01-03 07:11:30


Question:
Under the straight line method of charging depreciation depreciation ____
 
 

 

1.increases every year

2.decreases every year

3. is constant

4.fluctuate every year

Posted Date:-2022-01-03 07:11:30


Question:
Under which method of depreciation the earlier year of the life of the asset profits are more _____
 
 
 
 

1.straight line metho

2.written down value metho

3.annuity metho

4.depreciation fund metho

Posted Date:-2022-01-03 07:11:30


Question:
Workmen s amenities and welfare expenses should be divided among the different departments on the basis of ____________
 
 
 

1.number of worker in each department

2.number of machines in each department

3.wages of each department

4.floor area occupied by each department

Posted Date:-2022-01-03 07:11:30


More MCQS

  1. भारतीय इतिहास(Indian History)
  2. संयुक्त राज्य अमेरिका का इतिहास(History of the united states)
  3. आधुनिक भारतीय इतिहास भाग -1(Modern indian history part 1)
  4. आधुनिक भारतीय इतिहास भाग -2(Modern indian history part 2)
  5. आधुनिक भारतीय इतिहास भाग -3(Modern indian history part 3)
  6. आधुनिक भारतीय इतिहास भाग -4(Modern indian history part 4)
  7. आधुनिक भारतीय इतिहास भाग -5(Modern indian history part 5)
  8. covid-19
  9. History
  10. Full name(पूरा नाम)
  11. Birthdate(जन्म दिन)
  12. Date of death(मृत्यु तिथि)
  13. Birth Place(जन्म स्थान)
  14. Indian Politiecs
  15. Political Science
  16. Competitive Exams (History) Part 1
  17. Competitive Exams (History) Part 2
  18. Competitive Exams (History) Part 3
  19. Competitive Exams (History) Part 4
  20. Competitive Exams (History) Part 5
  21. Competitive Exams (History) Part 6
  22. Competitive Exams (History) Part 7
  23. Competitive Exams (History) Part 8
  24. General knowledge Competitive Exam 1
  25. General knowledge Competitive Exam 2
  26. General knowledge Competitive Exam 3
  27. General Knowledge Competitive Exam 4
  28. GK MCQ Questions NCERT BOOKS Set -1
  29. GK MCQ Questions NCERT BOOKS Set -2
  30. GK MCQ Questions NCERT BOOKS Set -3
  31. GK MCQ Questions NCERT BOOKS Set -4
  32. GK MCQ Questions NCERT BOOKS Set -5
  33. Current Affairs 2021-Places
  34. Current Affairs 2021-Sports
  35. Current Affairs 2021- Technology
  36. Basic General Knowledge - Section 1
  37. Current Affairs 2021- Art and Culture
  38. Current Affairs 2021- Banking
  39. Current Affairs 2021- Business
  40. Current Affairs 2021- Economy
  41. Basic General Knowledge - Section 2
  42. Basic General Knowledge - Section 3
  43. Basic General Knowledge - Section 4
  44. Basic General Knowledge - Section 5
  45. Basic General Knowledge - Section 6
  46. Basic General Knowledge - Section 7
  47. Basic General Knowledge - Section 8
  48. Basic General Knowledge - Section 9
  49. General Knowledge - Section 1
  50. General Knowledge MCQS - Indian Culture
  51. General Knowledge MCQS - World Organisations
  52. General Knowledge MCQS - Indian History
  53. General Knowledge MCQS - Famous Personalities
  54. Current Affairs 2021-Miscellaneous
  55. Current Affairs 2021-Politics
  56. Current Affairs 2021-Persons
  57. Current Affairs 2021-Important Days
  58. Current Affairs General Knowledge (GK) -States Latest
  59. Current Affairs General Knowledge (GK) -National
  60. Current Affairs General Knowledge (GK) -International
  61. Current Affairs General Knowledge (GK) -Awards and Honours
  62. General Knowledge(GK) MCQS-General Science-Elements and Metals
  63. General Knowledge(GK) MCQS-General Science - Measurements
  64. General Knowledge(GK) MCQS-General Science - Nuclear Science
  65. General Knowledge(GK) MCQS-General Science - Synthetic Materials
  66. General Knowledge(GK) MCQS-General Science - Inventions
  67. INFORMATION AND TECHNOLOHY MCQS-G K Question and Answer
  68. General Science MCQS-GK Questions & Answers
  69. Basic General Knowledge - Section 10
  70. Indian Polity
  71. Chemistry MCQS -General Knowledge
  72. General Awareness MCQ Questions Set 1
  73. General Awareness MCQ Questions Set 2
  74. General Awareness MCQ Questions Set 3
  75. General Awareness MCQ Questions Set 4
  76. General Awareness MCQ Questions Set 5
  77. General Awareness MCQ Questions Set 6
  78. General Awareness MCQ Questions Set-7
  79. General Awareness MCQ Questions Set 8
  80. General Awareness MCQ Questions Set 9
  81. General Awareness MCQ Questions Set 10
  82. General Awareness MCQ Questions Set 11
  83. General Awareness MCQ Questions Set 12
  84. General Awareness MCQ Questions Set-13
  85. General Awareness MCQ Questions Set-14
  86. General Awareness MCQ Questions Set-15
  87. General Awareness MCQ Questions Set-16
  88. General Awareness MCQ Questions Set-17
  89. General Awareness MCQ Questions Set-18
  90. General Awareness MCQ Questions Set-19
  91. General Awareness MCQ Questions Set-20
  92. General Awareness MCQ Questions Set-21
  93. General Awareness MCQ Questions Set-22
  94. General Awareness MCQ Questions Set-23
  95. General Awareness MCQ Questions Set-24
  96. General Awareness MCQ Questions Set-25
  97. General Awareness MCQ Questions Set-26
  98. General Awareness MCQ Questions Set-27
  99. Indian Economy MCQ Set 1
  100. Indian Economy MCQ Set 2
  101. Genera Knowledge (Animals and Birds) set-1
  102. Genera Knowledge (Animals and Birds) Mcq Questions set-2
  103. Genera Knowledge (Animals and Birds) Mcq Questions set-3
  104. General Knowledge Biology Mcq Questions set-1
  105. General Knowledge Biology Mcq Questions set-2
  106. General Knowledge Business Awareness MCQ Questions Set-1
  107. General Knowledge Business Awareness MCQ Questions Set 2
  108. General Knowledge Business Awareness MCQ Questions Set -3
  109. General Knowledge Business Awareness MCQ Questions Set -4
  110. General Knowledge Biology Questions Set-3
  111. General Knowledge Biology Questions Set-4
  112. General Knowledge Biology Questions Set-5
  113. General Knowledge Biology Questions Set-6
  114. General Knowledge Books and Authors MCQ Questions Set-1
  115. General Knowledge Books and Authors MCQ Questions Set-2
  116. General Knowledge Books and Authors MCQ Questions Set-3
  117. General Knowledge Books and Authors MCQ Questions Set-4
  118. Country Capitals Questions set -1
  119. Country Capitals Questions set -2
  120. General Awareness Questions
  121. Gk Indian Politics CURRENT AFFAIRS MCQ QUESTION SET 1
  122. Gk Indian Politics CURRENT AFFAIRS MCQ QUESTION SET 2
  123. Gk Indian Politics CURRENT AFFAIRS MCQ QUESTION SET 3
  124. Gk Indian Politics CURRENT AFFAIRS MCQ QUESTION SET 4
  125. BASIC GENERAL KNOWNLEGE MCQ SET 1
  126. BASIC GENERAL KNOWNLEGE MCQ SET 2
  127. BASIC GENERAL KNOWNLEGE MCQ SET 3
  128. Computer GK Mcq Question part 1
  129. Computer GK Mcq Question part 2
  130. Computer GK Mcq Question part 3
  131. MCQ GK SET-1
  132. Ancient Indian History Quiz Multiple Choice Questions (MCQs) Part 1
  133. Ancient Indian History Quiz Multiple Choice Questions (MCQs) Part 2
  134. Indian Culture General Studies MCQs Part 1
  135. Indian Culture General Studies MCQs Part 2
  136. Modern Indian History & Freedom Struggle Questions (MCQs) PART 1
  137. Indian Geography Questions (MCQs) for UPSC, State PCS and SSC Examinations Part 1
  138. Environment, Ecology & Biodiversity Multiple choice questions for GK paper in SSC, NDA, CDS, UPSC, UPPSC and State PSC Examinations.
  139. Sports GK Questions - MCQs on Sports General Knowledge Part 1
  140. Sports GK Questions - MCQs on Sports General Knowledge Part 2
  141. Important Days and Dates GK Questions Part 1
  142. Important Days and Dates GK Questions Part 2
  143. Books and Authors GK Questions PART 1
  144. Andaman & Nicobar GK Questions Part 1
  145. Andaman & Nicobar GK Questions Part 2
  146. Arunachal Pradesh GK Questions for APPSC Examinations Part 1
  147. Arunachal Pradesh GK Questions for APPSC Examinations Part 2
  148. Bihar GK for BPSC and other Bihar PCS Exams Part 1
  149. Bihar GK for BPSC and other Bihar PCS Exams Part 2
  150. Uttar Pradesh GK Questions for UPPSC Examinations Part 1
  151. Uttar Pradesh GK Questions for UPPSC Examinations Part 2
  152. Government Schemes [India & States] Current Affairs MCQs
  153. India Current Affairs [Nation & States] MCQs
  154. Reports And Indices Current Affairs MCQs
  155. Legal & Constitutional Current Affairs
  156. International General Knowledge Test Set 01
  157. International General Knowledge Test Set 02
  158. GK Basic National Mcq Set 01
  159. GK Basic National Mcq Set 02
  160. World Organizations mcq
  161. World Famous Personality set 1
  162. International Books and Authors MCQ Questions -
  163. Constitution of India & Indian Politics Set 01
  164. Constitution of India & Indian Politics Set 02
  165. GK MCQ
  166. GK Quiz on Union-State Relations & Vice-President of India
  167. GK Mcq Indian Polity Parliamentary System in India
  168. Earth Multiple Choice Questions
  169. Earth Multiple Choice Questions set 2
  170. Earth Multiple Choice Questions set 2.
  171. Current Affairs Questions 2021
  172. Advertising MCQ Set 1
  173. Financial Accounting MCQ Part – 1
  174. Advertising MCQ Set 2
  175. Business Economics MCQ Part 1
  176. Direct Tax MCQ Set 1
  177. General Psychology MCQ SET 1
  178. Himachal Pradesh General Knowledge Questions
  179. Basic General Knowledge Mcq
  180. Sports GK MCQ Set 1
  181. Indian History MCQ Quiz Answers
  182. Indian Parliament MCQ Questions
  183. Famous Days & Dates General Knowledge Questions
  184. Botany General Knowledge Mcq Questions
  185. Geography General Knowledge MCQ
  186. Gujarat General Knowledge Questions
  187. Indian Culture MCQ
  188. Banking Awareness General Knowledge Mcq Set 1
  189. Banking Awareness General Knowledge Mcq Set 2
  190. Insurance Awareness MCQ Set 1
  191. Andhra Pradesh MCQ
  192. Odisha MCQ
  193. Haryana General Knowledge Mcq
  194. Jharkhand General Knowledge Questions
  195. Kerala General Knowledge Questions
  196. Madhya Pradesh General Knowledge Questions
  197. Bihar General Knowledge Questions
  198. Uttar Pradesh General Knowledge Questions
  199. Jammu and Kashmir General Knowledge Questions
  200. Meghalaya General Knowledge Questions
  201. Arunachal Pradesh General Knowledge Questions
Search
R4R Team
R4Rin Top Tutorials are Core Java,Hibernate ,Spring,Sturts.The content on R4R.in website is done by expert team not only with the help of books but along with the strong professional knowledge in all context like coding,designing, marketing,etc!