The normal spoilage is subtracted from total spoilage to calculate _____________?
A. abnormal spoilage B. Gross weighted spoilage C. inventoriable spoilage D. partial spoilage
Accounting MCQs with Answers
The residual material which results from manufacturing products is called ___________?
A. reduced work B. spoilage C. rework D. scrap
An amount of spoilage that is natural in any particular production process is classified as ___________?
A. normal scrap B. normal spoilage C. abnormal spoilage D. weighted spoilage
Cash discount is provided on _______________?
A. Purchases B. Prompt payment C. Sales D. Sales return https://www.zintego.com The correct answer to the question: “Cash discount is provided on _______________?” is “Prompt payment”.
For the business, capital is ____________?
A. Expense B. Liability C. financial assets D. All of them What Is Capital? Capital is a term for financial assets, such as funds held in deposit accounts and/or funds obtained from special financing sources. Capital can also be associated with capital assets of a company that requires significant amounts of capital to finance or … Read more
LIFO stands for__________?
A. Lots in , Few out B. Link input, Format Output C. Last input, First Output D. Last in, First Out The correct answer to the question: “LIFO stands for__________?” is “Last in, First Out”.
The revenues and expenses of a company are displayed in which statement?
A. Balance Sheet B. Cash Flow Statement C. Income Statement D. None of the above The correct answer to the question: “The revenues and expenses of a company are displayed in which statement?” is “Income Statement”.
A systematic way to maintain the books of accounts is called_________?
A. Accountancy B. Economics C. Book Keeping D. Auditing The correct answer to the question: “A systematic way to maintain the books of accounts is called_________?” is “Book Keeping”.
An Art of reading, classifying & Summarizing of accounts in a systematic way is called__________?
A. Accounting B. Accountancy C. Auditing D. Book Keeping The correct answer to the question: “An Art of reading, classifying & Summarizing of accounts in a systematic way is called__________?” is “Accounting”.