Accounting Practice MCQ Page 35

Multiple Choice questions for Accounting in the sets of 10 each on one page with questions and answers. All sets are useful in the preparation of subject tests for employment or admission.
Question: 2544   A harmonium enclosed in a sheath is called
  1. hormocyst
  2. hormogonium
  3. trichome
  4. trichogyne
Question: 3807   Adebit balance on Amitie's account in your sales ledger means that
  1. Amitabh owes you the money
  2. you owe Amitabh the mony
  3. Amitabh has just paid you that amout of money
  4. Amitabh has returned that amount of goods to you
Question: 3811   A debit balance on the rates account after the yearly transfer to the profit and loss account indicates
  1. an asset and an accrual
  2. an asset and a prepayment
  3. a liability and an accrual
  4. a liability and a prepayment
Question: 3820   which one of the following normally has a debit balance?
  1. The capital account
  2. A creditor's account
  3. The motor vehicles account
  4. A loan account
Question: 3822   which one of the following normally has a debit balance?
  1. The capital account
  2. A creditor's account
  3. The motor vehicles account
  4. A loan account
Question: 3823   Which of the following normally has a credit balance?
  1. The machinery account
  2. The purchases account
  3. The stock account
  4. The sales account
Question: 3830   which one of the following statement is correct?
  1. A proprietor's will remain constant if he only withdraws this Net profit each year and does not introduce any new capital.
  2. A proprietor's capital will increase if his drawings are higher than his Net profit and he does not introduce any new capital.
  3. A proprietor's capital will decrease if his Net profit is greater than his drawings and does not introduce any new capital
  4. A proprietor's capital will remain constant if he only withdraws his Net profit each year, but also introduces new capital.
Question: 3832   Gross profit equals
  1. sales minus closing stock
  2. purchases minus closing stock
  3. nit profit minus expenses
  4. sales minus cost of goods sold
Question: 3835   Cost of sales equals
  1. sales minus purchases
  2. purchases minus returns out plus closing stock
  3. sales plus opening stock minus (purchases plus closing stock)
  4. opening stock minus closing stock minus returns out
Question: 3836   Net profit equals
  1. gross profit minus expenses
  2. sales minus cost of sales
  3. sales minus expenses
  4. capital minus expenses
Question: 3837   A man buys Rs. 40,000 worth of goods and sells of them for rs. 50,000. His gross profit is
  1. Rs. 10,000
  2. Rs. 20,000
  3. Rs. 30,000
  4. Rs. 40,000
Question: 3839   If sales are Rs. 10,000, expenses Rs. 2,000 and net profit is 10% of sales, the gross profit is
  1. Rs. 3,000
  2. Rs. 9,000
  3. Rs. 10,100
  4. Rs. 11,000

Answers to the questions of Accounting on this page

Following list gives the correct choice for the answer of the Accounting mcqs.
2544 . A       3807 . A       3811 . B       3820 . C       3822 . C       3823 . D       3830 . A       3832 . D       3835 . D       3836 . A       3837 . B       3839 . A      

Select Page Number

Accounting Page 1Accounting Page 2Accounting Page 3Accounting Page 4Accounting Page 5Accounting Page 6Accounting Page 7Accounting Page 8Accounting Page 9Accounting Page 10Accounting Page 11Accounting Page 12Accounting Page 13Accounting Page 14Accounting Page 15Accounting Page 16Accounting Page 17Accounting Page 18Accounting Page 19Accounting Page 20Accounting Page 21Accounting Page 22Accounting Page 23Accounting Page 24Accounting Page 25Accounting Page 26Accounting Page 27Accounting Page 28Accounting Page 29Accounting Page 30Accounting Page 31Accounting Page 32Accounting Page 33Accounting Page 34Accounting Page 35Accounting Page 36Accounting Page 37Accounting Page 38Accounting Page 39Accounting Page 40Accounting Page 41Accounting Page 42Accounting Page 43Accounting Page 44Accounting Page 45Accounting Page 46Accounting Page 47Accounting Page 48Accounting Page 49Accounting Page 50Accounting Page 51Accounting Page 52Accounting Page 53

MCQ for Practicing Subject Tests

Biology Chemistry Computer Sciences Management Physics Other Subjects
USA College Scholarships Computer Sciences MCQ Management Sciences MCQ Physics MCQ Chemistry MCQ Biology MCQ

----------------------