Accounting Test Online ( Part 5)

We are taking our Dec. 2010's accounting tutorials for writing multiple choice questions in accounting (part 5) and taking your accounting test online. If you are not able to choose correct answer out of 4 options of any accounting question, you have facility to read the accounting tutorials in which that correct answer has been mentioned.

Questions 1. When there is impairment loss of goodwill ?

If fair market value of net assets is more than carrying value or book value of net assets

If fair market value of net assets is less than carrying value or book value of net assets

If fair market value of net assets is equal to carrying value or book value of net assets

All of above

Reference for correct answer this multiple choice question in accounting : How to Test for Impairment of Goodwill?

Questions 2.Which will the entry of drawee dishonours the bill on due date?


Drawee account Dr.

To B/R account

B/R account Dr.

To Drawee account

Drawee account Dr.

To Bank account

Bank account Dr.

To Drawee account


Reference for correct answer this multiple choice question in accounting : Bill of Exchange Accounting


Questions 3. We bought Grade 1 product from dealer B instead dealer A. We will classify it in..


Stock items

Stock Group

Stock Category

Non of above

Reference for correct answer this multiple choice question in accounting : Stock Group Vs Stock Category


Questions 4. Which formula is correct?

Source of Fund = Application of Fund - Contingent Liabilities

Shareholder’s fund + Long term liabilities = Final Assets + Current Liabilities – Current Assets

Shareholder’s fund + Long term liabilities = Fixed Assets + Current Assets + Current Liabilities

Shareholder’s fund + Long term liabilities = Fixed Assets + Current Assets – Current Liabilities


Reference for correct answer this multiple choice question in accounting : Vertical Form of Balance Sheet


Questions 5.Which function is not of management accountant?


  Budget Making

Pass the Voucher Entries

Reporting
 
Administration of Corporate Tax

Reference for correct answer this multiple choice question in accounting : Management Accountant


Questions 6.Which of following is the best way to get correct profit and loss account if forget any paid expenses?



  Not to show that expenses in profit and loss account.

Show the estimated amount of that forgotten expenses.

Try to find that forgotten expenses by different ways like check your all old vouchers, see all the asset physically and others etc.

Go to police station and enter your FIR.

Reference for correct answer this multiple choice question in accounting : How to Get Accurate Profit and Loss Account


Questions 7.Can company give dividend, if it suffers loss?


Yes

No

Yes, but only to those who have more than 25% of total shares. 

Yes, but only to those who have more than 51% of total shares.

Reference for correct answer this multiple choice question in accounting : Accounting Problem from Ryde, New South Wales, Australia


Questions 8. Is Decision Support System (DSS) part of ...

Structure of MIS

Typology of MIS

Executive Support System

Business Expert System

Reference for correct answer this multiple choice question in accounting : Typology of MIS


Questions 9.How to access in central database?


With password

With user id

With correct validation

With email confirmation



Reference for correct answer this multiple choice question in accounting : Characteristics of MIS


Questions 10. Is MIS a flexible system?

Yes

No

Reference for correct answer this multiple choice question in accounting : Characteristics of MIS