1. Which one of the following methods of inventory costing yields highest taxable income?
2. Which one of the following methods of inventory costing produces ending stock cost close to the market value of the inventory?
3. Which one of the following inventory costing methods is supposed to issue the most recently purchased goods?
4. Opening inventory + Net purchases = ?
5. Cost of goods available for sale - closing inventory = ?
6. NRV or net realizable value of inventory is the expected selling price or market value less
7. Under which method of inventory costing, a pre-determined cost is assigned to all items of inventory?
8. Term 'Credit' means _____ by the business
9. When a liability is reduced or decreased, it is recorded on the:
10. When capital is increased by an amount, it is recorded on the:
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 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 15
- 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