Meaning & Scope Of Accounting


19 Questions MCQ Test | Meaning & Scope Of Accounting


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This mock test of Meaning & Scope Of Accounting for helps you for every entrance exam. This contains 19 Multiple Choice Questions for Meaning & Scope Of Accounting (mcq) to study with solutions a complete question bank. The solved questions answers in this Meaning & Scope Of Accounting quiz give you a good mix of easy questions and tough questions. students definitely take this Meaning & Scope Of Accounting exercise for a better result in the exam. You can find other Meaning & Scope Of Accounting extra questions, long questions & short questions for on EduRev as well by searching above.
QUESTION: 1

The main objectives of book keeping are [2006 - November]

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QUESTION: 2

At the end of the financial year after sale of goods worth Rs. 2,00,000 there was a closing stock of Rs. 10,000 .This is : [2006 –November]

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QUESTION: 3

Financial statement are a part of [2007 –   February]

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QUESTION: 4

_______of American institute of certified public Accountants enumerated the functions of Accounting.[2007 –   February]

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QUESTION: 5

Management Accounting : [2007 –   May]

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QUESTION: 6

The direct advantage of accounting do not include: [2007 –  August ]

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QUESTION: 7

Double Accounting system owes its origin to: [2007 –November]

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QUESTION: 8

On 31st December, 2005, Ashok Ltd. purchased a machine from Mohan Ltd. for Rs. 1,75,000. This is: (Year end: 31 st December)

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Transaction means a business, performance of an act, an agreement while event signifies a happening, as a consequence of transaction, a result. Thus, purchase of Machinery on 31st Dec, 2005 i.e. last day of accounting year will be a transaction as well as event.

QUESTION: 9

The problems related to price- rise are handled under:

Solution:

Inflation refers to a general price rise in the economy. Thus, all issues related to price rise are handled under Inflation Accounting. Management Accounting deals with management related transactions. Cost Accounting deals with unit costing of a product and Financial Accounting deals with preparation of financial statements.

QUESTION: 10

Financial statements users. include [2008- June]

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QUESTION: 11

Which of these is not available in the financial statements of a company? [2008- June]

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QUESTION: 12

Rs.. 5000 paid as rent of office premises in an/a--------------- [2009- June]

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QUESTION: 13

Which of the following is correct? Owner’s equity is: [2009 - June]

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QUESTION: 14

If owner’s capital is Rs..50,000 liability is Rs.. 30,000 and fixed assets is Rs.. 70,000, then what is the value of current assets? [2009- June]

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QUESTION: 15

Net profit or loss will be derived at --------- stage of accounting. [2012- June]

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QUESTION: 16

which one of the following is not a main objective of accounting?------- [2012- June]

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QUESTION: 17

At the end of the financial year, Mr.X earns a profit of Rs.. 57,000 in his business. This is [2012- June]

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QUESTION: 18

 Which of the following is an event? [20013- June]

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QUESTION: 19

Accounting has unviseRs.al application for recording ____________and events and presenting suitable information for decision making. [2013- December]

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