21. On 1st January 2012 X drawn of Rs. 20,000 on Y for three months. X discounted the bill with bank for Rs. 19,900. On due date, the bill was dishonoured. For dishonour in the books of X. Bank account will be credited by
22. Which one of the following receipts is of revenue nature?
23. Authorised share capital is
24. In what order are the followingassetsshown in the balance sheet of a company?
i. Trade receivables
ii. Cash
iii. Furniture and fittings
iv. Investment in shares and debentures
i. Trade receivables
ii. Cash
iii. Furniture and fittings
iv. Investment in shares and debentures
25. The main objective of accounting standards is to
26. Amount spent on an advertisement campaign, the benefit of which is likely to last for three years is a:
27. Deferred revenue expenditure is associated with
28. The main objective of Accountancy is to know about the:
29. What is the correct sequence of the following actions required for the preparation of financial accounts?
1. Trading account
2. Making adjusting entries
3. Balance sheet
4. Profit and Loss account
Select the correct answer:
1. Trading account
2. Making adjusting entries
3. Balance sheet
4. Profit and Loss account
Select the correct answer:
30. The Accounting Standard No. 2 of the International Accounting Standards Committee is on the subject of
Read More Section(Accounting)
Each Section contains maximum 100 MCQs question on Accounting. To get more questions visit other sections.
- Accounting - Section 1
- Accounting - Section 2
- Accounting - Section 3
- Accounting - Section 4
- Accounting - Section 5
- Accounting - Section 6
- Accounting - Section 7
- Accounting - Section 8
- Accounting - Section 9
- Accounting - Section 10
- Accounting - Section 11
- Accounting - Section 12
- Accounting - Section 13
- Accounting - Section 14
- Accounting - Section 16
- Accounting - Section 17
- Accounting - Section 18
- Accounting - Section 19
- Accounting - Section 20
- Accounting - Section 21
- Accounting - Section 22
- Accounting - Section 23
- Accounting - Section 24
- Accounting - Section 25