Financial Accounting MCQs with Answers

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.

G Ads:

Questions 1 to 20

 

Accounting provides information on:

Correct! Wrong!

The sales income (Credit and Cash) of a business during a given period is called :

Correct! Wrong!

Any return evidence in support of a business transaction is called:

Correct! Wrong!

Which of the following best describes a manual accounting system?

Correct! Wrong!

Advertisement

According to this concept, it is assumed that business will exist for indefinite time period:

Correct! Wrong!

Who is most responsible for the operation of the accounting system in an organization?

Correct! Wrong!

The account that records expenses, gains and losses is:

Correct! Wrong!

If assets are Rs.8,000 and capital is Rs.6,000, liabilities will be:

Correct! Wrong!

Advertisement

A journal entry that requires more than two accounts is called:

Correct! Wrong!

Which of the following is NOT an objective of all information systems?

Correct! Wrong!

Check Also

Accounting Information System by James Hall MCQs with Answers

AIS by JAMES HALL Chapter 4 MCQs with Answers

Accounting Information System by James HALL MCQs with Answers Chapter No. 4 : The Revenue …

You cannot copy content of this page

Social Media Auto Publish Powered By : XYZScripts.com
error: Content is protected !!
Ads Blocker Image Powered by Code Help Pro

Ads Blocker Detected!!!

We have detected that you are using extensions to block ads. Please support us by disabling these ads blocker.

Powered By
Best Wordpress Adblock Detecting Plugin | CHP Adblock