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Financial Accounting Mcqs with Answers
You may find chapter-by-chapter Financial Accounting MCQs with Answers for exams like the B.Com, ADC, BBA, MBA, CMA, CA CS, and ICAI on this special website. You will also get MCQs for fundamentals of financial accounting, basics of accounting MBA MCQs, and principles of accounting MCQs chapter-wise in this article. For chapter-by-chapter financial accounting MCQs, you may also check out the numerous links provided below in the post.
Financial Accounting Overview:
Financial accounting is a primary source of financial information on which all the stakeholders are trusted to reach their respective decisions for investment and other purposes. The main aim of financial accounting is to keep a record of all transactions of the organization to find the profit or loss of the business for a specific accounting period. Below you will find important Financial Accounting MCQs with Answers.
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Questions 1 to 20
Accounting provides information on:
The sales income (Credit and Cash) of a business during a given period is called :
Any return evidence in support of a business transaction is called:
Which of the following best describes a manual accounting system?
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According to this concept, it is assumed that business will exist for indefinite time period:
Who is most responsible for the operation of the accounting system in an organization?
The account that records expenses, gains and losses is:
If assets are Rs.8,000 and capital is Rs.6,000, liabilities will be:
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