Types of Accounts MCQs
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MCQs 1 To 10
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All economics costs that a business incur through its operation to earn revenues?
All of following are Expenses except?
All of the following are Liabilities except?
Residual interest in the net asset of an entity that remains after deducting its liabilities is?
Revenue?
Economic resources of business that expected to be of benefit in future time referred as?
Which of the following item of revenue nature?
Which of the following is an identifiable non-monetary asset without physical substance?
All of following are Assets except?
Liabilities are?
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MCQs 11 To 20
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Which of the following is an example of an intangible asset?
Which of the following is the liability?
Which of the following is not an asset?
Assets which have no physical existence and which cannot be seen, touched or felt are?
Which of the following is a liability?
Which of the following is an expense?
Which of the following would not be regarded as an asset?
What is owned by a business and used in carrying out its operating activities is best described as?
Economic Obligations of the Business are called?
Which of the following is a liability?
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References
Ramchandran, N., & Kakani, R. K. (2007). Financial Accounting for Management. (2nd, Ed.) New Delhi: Tata McGraw Hill.
Sehgal, A., & Sehgal, D. (n.d.). Advanced Accountancy (Vol. I & II). New Delhi: Taxmann Publication Pvt. Ltd.
Shukla, M. C., Grewal, T. S., & Gupta, S. C. (2008). Advanced Accountancy (Vol. I & II). New Delhi: S Chand & Co.
Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2012). Accounting Principles (10th ed.). Hoboken: John Wiley & Sons, Inc.
Williams, M., & Bettner, H. (1999). Accounting (The basic for business decisions). (11th, Ed.) USA: Irwin McGraw- Hill.
Please correct Qno3
(All of following are assets except____? Unearned income (option C is correct)
Q .NO 03: Answer is incorrect, Kindly correct it
Option D is correct. No issue in answer…
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