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    Accounting Multiple Choice Questions & Answers: Answer: C

    Uploaded by

    Md. Saiful Islam Bhuiyan
    This document contains 11 multiple choice questions about accounting concepts. The questions cover topics such as the money measurement concept, dividing expenditures into capital and revenue, using the lowest price value in financial records according to the conservatism concept, different types of accounts including personal, real, nominal and representative personal accounts, and examples of nominal accounts like interest earned, commission paid, trading account, and profit and loss account.

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    © All Rights Reserved
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    Accounting Multiple Choice Questions & Answers: Answer: C

    Uploaded by

    Md. Saiful Islam Bhuiyan
    104 views2 pages
    This document contains 11 multiple choice questions about accounting concepts. The questions cover topics such as the money measurement concept, dividing expenditures into capital and revenue, using the lowest price value in financial records according to the conservatism concept, different types of accounts including personal, real, nominal and representative personal accounts, and examples of nominal accounts like interest earned, commission paid, trading account, and profit and loss account.

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    Accounting

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    This document contains 11 multiple choice questions about accounting concepts. The questions cover topics such as the money measurement concept, dividing expenditures into capital and revenue, using the lowest price value in financial records according to the conservatism concept, different types of accounts including personal, real, nominal and representative personal accounts, and examples of nominal accounts like interest earned, commission paid, trading account, and profit and loss account.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    104 views2 pages

    Accounting Multiple Choice Questions & Answers: Answer: C

    Uploaded by

    Md. Saiful Islam Bhuiyan
    This document contains 11 multiple choice questions about accounting concepts. The questions cover topics such as the money measurement concept, dividing expenditures into capital and revenue, using the lowest price value in financial records according to the conservatism concept, different types of accounts including personal, real, nominal and representative personal accounts, and examples of nominal accounts like interest earned, commission paid, trading account, and profit and loss account.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    ACCOUNTING

    Multiple Choice Questions & Answers


    1. All the transactions measurable in the terms of money are recorded in accounts is according
    to
    A. business entity concept
    B. going concern concept
    C. money measurement concept
    D. accounting period concept
    ANSWER: C
    2. Dividing the expenditure into capital and revenue is according to
    A. business entity concept
    B. going concern concept
    C. money measurement concept
    D. accounting period concept
    ANSWER: D
    3. While putting the value or price of an entity in financial records the lowest price is recorded
    not the current price or current market value. This is known as
    A. Business Entity Concept
    B. Conservatism
    C. Cost Concept
    D. Money Measurement Concept
    ANSWER: B
    4. Co-operative societies is an example of
    A. personal account
    B. real account
    C. nominal account
    D. representative personal account
    ANSWER: A
    5. Outstanding salary account is a
    A. natural personal account
    B. artificial personal account
    C. representative personal account
    D. real account
    ANSWER: C
    6. Interest earned is a
    A. personal account
    B. real account
    C. nominal account
    D. representative personal account
    ANSWER: C
    7. Commission paid is a
    A. personal account
    B. real account
    C. nominal account
    D. representative personal account
    ANSWER: C
    8. Trading account is a
    A. personal account
    B. real account
    C. nominal account
    D. representative personal account
    ANSWER: C
    9. Profit and loss account is a

    Read more question on Accounting


    ACCOUNTING
    Multiple Choice Questions & Answers
    A. personal account
    B. real account
    C. nominal account
    D. representative personal account
    ANSWER: C
    10. All revenue incomes are credited to
    A. manufacturing account
    B. trading account
    C. profit and loss account
    D. balance sheet
    ANSWER: C
    11. In profit and loss account, if credit is more than the debit, the difference is
    A. net profit
    B. net loss
    C. gross profit
    D. gross loss
    ANSWER: A

    Read more question on Accounting

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