Accounting MCQ Questions and Solutions with Explanations

Section 1 Section 2 Section 3 Section 4 Section 5 Section 6

1.
Accounting provides information on

A. Cost and income for managers

B. Company's tax liability for a particular year

C. Financial conditions of an institutions

D. All of the above

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2.
The long term assets that have no physical existence but are rights that have value is known as

A. Current assets

B. Fixed assets

C. Intangible assets

D. Investments

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3.
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as

A. Current assets

B. Fixed assets

C. Intangible assets

D. Investments

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4.
Patents, Copyrights and Trademarks are

A. Current assets

B. Fixed assets

C. Intangible assets

D. Investments

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5.
The debts which are to be repaid within a short period (year or less) are known as

A. Current liabilities

B. Fixed liabilities

C. Contingent liabilities

D. All of the above

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Accounting MCQ Questions and Solutions with Explanations | Commerce

1. Accounting provides information on

Answer & Solution

2. The long term assets that have no physical existence but are rights that have value is known as

Answer & Solution

3. The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as

Answer & Solution

4. Patents, Copyrights and Trademarks are

Answer & Solution

5. The debts which are to be repaid within a short period (year or less) are known as

Answer & Solution

Read More Section(Accounting)

1.
Accounting provides information on

2.
The long term assets that have no physical existence but are rights that have value is known as

3.
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as

4.
Patents, Copyrights and Trademarks are

5.
The debts which are to be repaid within a short period (year or less) are known as