Accounting Practice MCQ Page 49

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: 4297   The cost of raw materials used used is
  1. Rs. 5,00,000
  2. Rs. 6,00,000
  3. RS. 6,50,000
  4. RS. 6,70,000
Question: 4298   The prime cost is
  1. RS. 6,00,000
  2. RS. 670,000
  3. RS. 11,00,000
  4. RS. 14,20,000
Question: 4299   The total factory overheads are
  1. RS.2,30,000
  2. RS. 3,20,000
  3. RS. 14,10,000
  4. RS. 14,20,000
Question: 4300   The cost of the year's production of finished goods is
  1. RS. 11,00,000
  2. RS. 14,10,000
  3. RS. 14,20,000
  4. RS. 14,60,000
Question: 4301   The work in progress at the start of the year was
  1. RS. 10,000
  2. RS. 30,000
  3. RS. 40,000
  4. RS. 50,000
Question: 4302   The indirect wages for the year totalled
  1. RS. 10,000
  2. RS. 20,000
  3. RS. 30,000
  4. RS. 40,000
Question: 4303   If the accountant had forgotten to take in to account that RS. 5,000 paid for forgotten to take into account that RS. 5,000 paid for factory rates was for the following year, the production cost would have been
  1. RS. 14,05,000
  2. RS. 14,10,000
  3. RS. 15,000
  4. RS. 14,20,000
Question: 4304   At the end of the financial year a partner's drawing current account are transferred to the
  1. credit side of the partner's capital account
  2. credit side of the partner's current account
  3. debit side of the partnership bank account
  4. debit side of the partner's
Question: 4305   After the final accounts have been prepared, a debit balance on a partner's current account means that the
  1. partner is owed that amount by partnership
  2. partnership's bank account is overdrawn
  3. partner is in debt to the partnership for that amount
  4. partnership has no working capital
Question: 4306   If one partner received a salary which is credited to him at the end of the year, the share of the profit available for distribution will be
  1. increased
  2. decreased
  3. unchanged
  4. non-existent
Question: 4314   which one of the following would be entered in the cash book and not on the bank statement
  1. Bank charges
  2. A dis honoured cheque
  3. payment into the bank but not yet credited
  4. A credit transfer received from a customer
Question: 4315   when drawing up a bank reconciliation statement, if you start with a debit balance as per the bank statement,the unprecedented chepues should be
  1. added
  2. subtracted
  3. multiplied
  4. divided

Answers to the questions of Accounting on this page

Following list gives the correct choice for the answer of the Accounting mcqs.
4297 . B       4298 . C       4299 . B       4300 . B       4301 . C       4302 . C       4303 . A       4304 . D       4305 . C       4306 . B       4314 . C       4315 . A      

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