In this post, we have covered all important Questions and answer relevant to the fundamentals of accounting which will be helpful in the Upcoming Exam. Information in financial reports is based ona. Event b. Economic transactionc. non-economic transactions d. All of the above Answer Answer: B Internal users of a business entity are excepta. Chief … Read more
Double entry accounting requires thata. All transactions that create debits to asset accounts must create credits to liability or capital accountsb. A transaction that requires a debit to a liability account require a credit to an asset accountc. Every transaction must be recorded with equal debits equal total credits.d. All of the above Answer Answer: … Read more
Bills of Exchange Mcq for practice A bill of Rs. 1,000 was dishonoured. Amount of Rs. 15 was paid for noting charges and it was renewed with Rs. 20 as interest. The amount of new bill will be:a. ₹ 1000 b. ₹ 1015c. ₹ 1025 d. ₹ 1035 Answer Answer: D A bill was drawn … Read more
PC 13/14 MCQ on Chapter 5 (Financial Statement) | SAS PC14 MCQ The part of a financial statement arei. Trial Balance ii. Trading Accountiii. Profit & Loss Account iv. Balance Sheeta. i, ii and iii b. ii, iii and ivc. i, iii and iv d. All of the above Answer Answer: B Which of the … Read more
MULTIPLE CHOICE QUESTIONS FOR CPWD AND FOREST ACCOUNT FOR PC 16 SAS SUBORDINATE AUDIT SERVICES. Charged Expenditure is said so because it(i) may be subject to the Vote of Lok Sabha(b) Is Charged on Consolidated Fund(c) Is Charged on Contingency Fund(d) Is Charged on Public Account Charged expenditure is mentioned in Article(a) 112 (1) (b) … Read more