MCQs BASED ON INTRODUCTION TO THE ACCOUNTING
1. Which of following will not be recorded in the book of
Account?
a) Sales of goods
b) Payment of salary
c) Quality of staff
d) Purchases of goods
2. Book keeping is mainly concerned will
a) Recording financial data reality to business
b) Designing for systems recording classifying &
summarizing records data
c) Interpreting data for internal & external users
d) All of above
3. The pioneer of accounting is
a) Arthor field house
b) Gitman
c) William pickles
d) Lucas pacioli
4. Accounting records of a business enterprises is required
by
a) Management of the business
b) Outsiders
c) All of above
d) None of these
5. To control the cost of production & distribution is
main field of
a) Financial accounting
b) Cost accounting
c) Auditing
d) None of these
6. Book keeping provides the
a) Primary information
b) Secondary information
c) Annual information
d) NOT
7. Modern system of book keeping is
a) Single entry systems
b) Double entry system
c) British system
d) NOT
8. Supply of foods and services in: Exchange of money
between two parties is known as
a) Goods transaction
b) Service transaction
c) Business transaction
d) Credit transactions
9. Which is the last step of accounting as a process of
information.
a) Recording the transaction
b) Preparation of financial statements
c) Communication of information
d) Analysis and interpretation of information
10. Which of following is not an internal user of financial
statements:
a) Board of Director
b) Managers
c) Employees
d) Lenders
11. The goods which are purchased for purposes of resale are
called
a) Purchase
b) Merchandise
c) Goods/Inventory
d) All of above
12. Cash inverted by owner is called
a) Assets
b) Liabilities
c) Capital
d) Loan
13. Cash or goods taken away by proprietor is called
a) Drawing
b) Scale
c) Charity
d) Expense
14. Any written evidence in support of business transaction
is called
a) Cash Memo
b) Invoice
c) Voucher
d) None of these
15. Book keeping is a systematic records of all
_____________ transaction.
a) Personal
b) Financial
c) Non-Financial
d) All of these
16. Which of the following will be recorded in the books of
account.
a) Sales of goods
b) Payment of salary
c) Purchase of goods
d) All of the above
17. Which is the first step of accounting as a process of
information.
a) Recording the transaction
b) Preparation of financial statement
c) Identification of information
d) Analysis and Interpretation of Information
18. The basic function of financial accounting into:
a) Record all business transactions
b) Interpret financial data
c) Assist the Management
d) None of these
19. Transactions are posted into ledger account from.
a) Vouchers
b) Journal Book
c) Bank Statement
d) None of these
20. Which of the following is an internal user of financial
statement?
a) Board of Directors
b) Managers
c) Employees
d) All of the above
Thanks for reading the Multiple Choice Questions on Accounting
No comments:
Post a comment