Financial Accounting MCQs

Financial Accounting MCQs

Q41] Mr. X sold goods to Mr. Y askMr. X to keep the goods with him for some time

a) symbolic delivery

b) actual delivery

c) constructive delivery

d) none of these

Q42] If nothing is written about the accounting assumption to be followed it is presumed that

a) They have been followed

b) They have not been followed

c) They are followed to some extent

d) none of these

Q43] Capital A/c is a _______ A/c.

a) Personal

b) Real

c) Nominal

d) None

Q44] Cash A/c is a ________ A/c.

a) Personal

b) Real

c) Nominal

d) None

Q45] The principle ―Debit the receiver and credit the giver‖ is related to_____

a) Personal a/c

b) Real a/c

c) Nominal a/c

d) None

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Q46] As per the Matching concept, Revenue –? = Profit

a) Expenses

b) Liabilities

c) Losses

d) Assets

Q47] Sales –Gross Profit = ________

a) Cost of goods sold

b) Net sales

c) Gross Sales

d) Liabilities

Q48] Which of the following is a Real A/c?

a) Building A/c

b) Capital A/c

c) Shyam A/c

d) Rent A/c

Q49] Valuation of stock in accounting follows the principle of cost price or ____ which ever is lower.

a) Market Price

b) Average Price

c) Net realizable Value

d) None of these.

Q50] Which of the following is not a nominal Account?

A] Outstanding salaries Account

B] Salaries account

C] Interest paid

D] Commission received

Also Read :-

1. Marketing Management MCQs
2.  Digital Business Management MCQs
3.  Cost Accounting MCQs
4.  Join Our Telegram Channel