MCQs on Book keeping And Accounting, Mcq on book keeping ans accounting
Hello viewers, Today we are going to start MCQs on Book Keeping and Accounting , I hope it will be beneficial for your upcoming exam. (From Question No. 1 to 15)
1. To control the cost of production and distribution is the main field of:
(A) Financial Accounting
(B) Cost Accounting
(C) Auditing
(D) None of these
Ans-(B) Cost Accounting
2. Double Entry means:
(A) Entry for the two aspects of books
(B) Entry at two dates
(C) Entry in two aspects of transaction
(D) All of the above
Ans-(C) Entry in two aspects of transaction3.Accounting provides information on
A. Cost and income for managers
(B). Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
Ans-D. All of the above4. The main objective of Book-keeping is:
(A) Complete recording of transactions
(B) Ascertainment of Financial effect on the business
(C) Analysis and interpretation of data)
(D) 'A' B' (Both 'A' and 'B')
Ans-(D) 'A' B' (Both 'A' and 'B')
5. In accounts recording is made of:
(A) Only financial transactions
(B) Only non-financial transactions
(C) Financial and non-financial transactions
(D) Personal transactions of the proprietor
6. Which of the following is not a limitations of Accounting?
(A) Based on Accounting Convention
(B) Incomplete Information
(C) Evidence in Legal Matters
(D) Omission of Qualitative Information
Ans-(C) Evidence in Legal Matters
7. Accounting is:
(A) Accounting: A Profession
(B) Accounting: A Service Activity
(C).Accounting: A Social Force
(D) All of the above
Ans- (D) All of the above
8. Who is the user of Accounting information?
(A) Owners
(B) Investors
(C) Management
(D) All of the these
Ans- (D) All of the these
9. Which of the following is not a sub-field of Accounting?
(A) Financial Accounting
(B) Management Accounting
(C) Book-keeping
(D) Cost Accounting
Ans-(C) Book-keeping
10. Accounting is:
(A) a Science
(B) An art
(C) an Art and Science both
(D) None of these
Ans-(C) an Art and Science both
11. Who invented the double entry system?
(A) Marshall
(B) Karl Pearson
(C) J.R. Batliboi
(D) Lucas Pacioli.
Ans-(D) Lucas Pacioli.
12. Which of the following is not the limitation of
(A) Evidence in legal matters
(B) Based on accounting conventions
(C) Incomplete information
(D) Lack of qualitative information
Ans- (A) Evidence in legal matters
13. Which of the following are the function of accounting
A. Decision Making
B. Posting
C. Forecasting
D. Measurements
Ans-B. Posting
14.On what basis the financial position of business is ascertained?
(A) Records prepared under the process of Book-keeping
(B) Trial Balance
(C) Accounting Report
(D) None of the above
Ans-(C) Accounting Report
15. Internal users of accounting information are:
(A) Creditors
(B) Potential investors
(C) Managers
(D) Researchers
Ans-(C) Managers
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