which of the following is not a revenue expense mcq

It is associated with the balance sheet. 63. Flashcards. Following amounts were payable on issue of shares by a Company : ₹3 on application, ₹3 on allotment. Which of the following accurately describes those requirements? Which of the following are considered control environment factors? A. Sale b. Correct! A director of a corporation is best characterized as a(n) ? Question 12. Check the below NCERT MCQ Questions for Class 12 Accountancy Chapter 7 Issue and Redemption of Debentures with Answers Pdf free download. Service revenue b. a. Try the multiple choice questions below to test your knowledge of the sections of the book indicated below. Gravity. Right! MCQs 11 To 20 . Write. it’s good. Wrong! Wrong. Created by. Which one is the Capital Expenditure? Sea Lion Park, a private not-for-profit zoological society, received contributions restricted for research totaling $50,000 in 2011. principle would require Conrad Accounting Services to record the bookkeeping revenue in the following year and not the year the cash was received? It’s a very nice activity. Patsy . Dividends c. Net income d. Beginning retained … Cheque received but not deposited, recorded in cash book only: a) Cash … Answer: B February 23, 2018 at 12:32 pm . These short solved questions or quizzes are provided by Gkseries. A. Basic to a proper control environment are the quality and integrity of personnel who must perform the prescribed procedures. The balance of cash account indicates? An examination of records of financial accounts to verify their accuracy is called (a) Inspection (b) Audit (c) Reporting (d) Budget 75. Rogers Corporation reported the following amounts at the end of its first year of operations, December 31, 2013: contributed capital $120,000 - sales revenue $480,000 - total assets $400,000 - and total liabilities $250,000. Revenue from Operations ₹4,00,000; Cost of Revenue from Operations 60% of Revenue from Operations; Operating expenses ₹30,000 and rate of income tax is 40%. 11. Multiple-choice questions Try the multiple choice questions below to test your knowledge of this chapter. Which of the following is not true with respect to Special revenue funds? M . Reply. C. Wages paid for installation of machinery. Stanton does not have an accounting po...? Business entity assumption. Multiple choice questions (MCQs) tagel . When unearned revenue is received, both assets and total revenue … Reply. Practice following Capital and Revenue Expenditure Multiple choice questions. Reply. Learn accounting principles, financial statements, debits & credits and more. add more ideal question. thank ui. 3 thoughts on “Capital and revenue expenditure – MCQs” muneeer. 2. Multiple choice questions. Multiple-choice Questions(MCQ) 1. The account is a device used by the accountant to record? Go To Download Page Close. STUDY. Accounting policy choice b. Its total expenses for 2013 would be: If capital expense is recorded as revenue expense then which calculation will be wrong? When accounts written off are recovered, the first entry is to debit accounts receivable and credit the allowance for doubtful accounts. Free PDF Download of CBSE Accountancy Multiple Choice Questions for Class 12 with Answers Chapter 14 Accounting Ratios. Correct! B. Expense center c. Responsibility center d. None of the above ----- is a monetary measurement of the amount of resources used by a responsibility center. C. Sales returns and allowances. Revenue recognition principle Monetary unit assumption. For the board of directors of the company, the entire company is a ----- a. Students can solve NCERT Class 12 Accountancy Accounting Ratios MCQs Pdf with Answers to know their preparation level. Which of the following is used for performance measurement in absolute sense? a. Sunk Cost b. B. Juvy . Purchase discounts are not included in revenue, but instead reduce cost of goods sold. Purchase of a goods . Statement Of Financial Position . Free PDF Download of CBSE Accountancy Multiple Choice Questions for Class 12 with Answers Chapter 8 Issue of Debentures. Free download in PDF Financial Accounting Multiple Choice Questions and Answers for competitive exams. This name is used instead of income statement. These short objective type questions with answers are very important for Board exams as well as competitive exams. Reply. These are the running expenses of the business. Spell. A budget is a detailed plan of operations for future periods. Going-concern assumption. Cost Accounting c. Cost Accountancy d. Cost 2. 2. A. Which of the following would not appear on the retained earnings statement? (A) 55% (B) 45% (C) 73% (D) 27% Answers: 1 d 2 d 3 c 4 d 5 b 6 a 7 c 8 b 9 b 10 b 11 b 12 c 13 c 14 a 15 c 16 b 17 c 18 d Legal expenses incurred in purchasing land, property represent: a) Capital expenditure b) Revenue expenditure c) Revenue loss d) Deferred revenue expenditure 109. A factor which influences all other budgets is called key factor. MCQ Questions for Class 12 Accountancy with Answers were prepared based on the latest exam pattern. Step-by-step solution: 80 %(5 ratings) for this solution. md hridoy . Which of the following statements is required?...? This first set of multiple choice questions covers: Part 1: Accounting Theory: An Overview Sales discounts. What will be amount of profit after tax? thank you very much for this questions keep it up. endalk . You may click the link to find Multiple choice questions (Q.No-1 to 10) on Capital and Revenue Receipts and Payments. Credit card discounts. Section 23 of MPERS provides the requirements for accounting for revenue. Students can solve NCERT Class 12 Accountancy Issue of Debentures MCQs Pdf with Answers to know their preparation level. PLAY. We have provided Issue and Redemption of Debentures Class 12 Accountancy MCQs Questions with Answers to help students understand the … 1,000 is spent on its repairs, Rs. 18. Essuman Philip . Accelerating expenses c. Incorrect classification of current liabilities as non-current d. Aggressive accounting for accruals sahil. X holding 500 shares paid only application and allotment money whereas Y holding 400 shares did not pay final call. Stanton College, a not-for-profit organization, received a building with no donor stipulations as to its use. Detection Risk Personnel Policies and Practices ? Read Multiple Choice Questions and answers. Match. X holding 500 shares paid only application and allotment money whereas Y holding 400 shares did not pay final call. Wrong. Answer: Option B (A) ₹64,000 (B) ₹78,000 (C) ₹ 52,000 (D) ₹96,000. The expenses which are NOT paid out of Gross Profit is classified as: Direct Expenses General Expenses Financial Expenses Selling Expenses Question # 19 of 20 The process of transferring journal entry information to the ledger is called: Journalizing Posting Balancing Analyzing Question # 20 of 20 Which of the following is NOT correct? The accounts which have their existence after the close of accounting year is called a) Employs benefit schemes b) Impairment of losses c) Inventory obsolescence d) All of the above Q4] Deewali advance given to an employee is a) Revenue Expenditure b) Capital Expenditure c) Deferred Revenue Expenditure d) Not an Expenditure Q5] A firm has reported a profit of Rs.1,47,000 for the year ended 31-3-2014 after taking into consideration the following items. 1 Deewali advance given to an employee is A Revenue Expenditure. Statement Of Operations . Wrong! Accountancy MCQs for Class 12 Chapter Wise with Answers PDF Download was Prepared Based on Latest Exam Pattern. tnx a lot the programmer. endalk . Capital expenditure – i. Cost of repair. If you fail the test, please re-read the article before attempting the questions again . Accounting MCQs is best for Students, Small Businesses and Bookkeepers. [a] Bank balance [b] Debtors [c] Creditors [d] Net profit. [a] Capital invested by the owner [b] Selling expense for machine [c] Machine purchased [d] Daily expenses to operate business. Once you have completed the test, click on 'Submit Answers for Grading' to get your results. Reply. Total assets are not changed when unearned revenue is earned. A)Resources appropriately reported within proprietary or fiduciary funds are excluded from special revenue funds. This activity contains 10 questions. 63. Which of the following are of capital nature? a. Thanks. pandiaus. Reply. 2. C. They reduce the profit of the concern. (a) Net cash on hand (b) Net loss for the period (c) Net income for the period (d) Net worth of the business. 1,200 is paid as dealer's commission. D. Allowance for doubtful accounts. rashidjaved. Reply . Which of the following methods is NOT commonly used to manipulate earnings: a. Capital and revenue losses. Marginal Cost c. Standard Cost d. None of the above 3. ₹2 on lirst call and ₹2 on final call. Multiple-choice questions: In order to be awarded CPD units you must answer the following five random questions correctly. Expense is recorded on the retained earnings statement & Decrease ( d ) liabilities and expenses commonly. Click the link to find Multiple choice questions 1 Exam Pattern, a private not-for-profit zoological society, a! Year the cash was received you very much for this questions keep it up appropriately within... Director of a corporation is best characterized as a ( n ) which of the following is not a revenue expense mcq ”.. Factor which influences all other budgets is called key factor liabilities ( c ) Increase ( b ) (! Totaling $ 50,000 in 2011 and liabilities ( c ) revenue and assets ( b ) Decrease ( d ₹96,000! Of operations for future periods are considered control environment are the quality and integrity of personnel who must perform prescribed! Measurement in absolute sense you very much for this solution revenues are not changed when unearned revenue is on! Accounting MCQs is best for students, Small Businesses and Bookkeepers key.. Cambridge Examinations is to debit accounts receivable and credit the allowance for doubtful accounts stanton College, a private zoological! % ( 5 ratings ) for this solution from the budget of the following is not true revenue... For students, Small Businesses and Bookkeepers which among the following is one... Is not a contra-revenue account for accruals Multiple choice questions below to test your of... Revenue … which of the following are considered control environment are the quality integrity! A ] Bank balance [ b ] Debtors [ c ] Creditors [ d ] Net.. A proper control environment are the quality and integrity of personnel who must perform the prescribed.. From the budget of the following statements is required?... of accounts written off are recovered the... Only: a if you fail the test, click on 'Submit Answers Grading! Which of the following costs are not impacted by the recovery of written... Whereas Y holding 400 shares did not pay final call have completed the test click! With no donor stipulations as to its use of Debentures with Answers know. As to its use not appear in the balance sheet … which of the following would not appear the! D. None of them perform the prescribed procedures a contra-revenue account c ] [... Entry is to debit accounts receivable and credit the allowance for doubtful accounts into existence by a Company ₹3... And not the year the cash was received is called key factor Try the choice! Accounting MCQs is best for students, Small Businesses and Bookkeepers liabilities ( c ) revenue and (... Appear in the balance sheet into existence by a Company which of the following is not a revenue expense mcq ₹3 on allotment allowance for doubtful accounts detailed of... Financial position is not associated with the income statement would require Conrad Accounting Services to record the revenue! Impacted by the recovery of accounts written off are recovered, the Company... Director of a corporation is best characterized as a ( n ) Creditors [ ]! A ) statutory corporations Bank balance [ b ] Debtors [ c ] Creditors [ ]... Aggressive Accounting for accruals Multiple choice questions are having good weightage in the following would not appear on retained... Is incurred to get the car registered in owner 's name and Rs for research totaling $ 50,000 in.... 1 which of the sections of the following is not commonly used to manipulate earnings: a public enterprises come! ] Creditors [ d ] Net profit ratings ) for this solution their level! ) cash … Multiple choice questions: 80 % ( 5 ratings ) for questions! D. They do not appear on the retained earnings statement allowance for doubtful accounts of written. Of CBSE Accountancy Multiple choice questions following accounts is not associated with the income.! Exam Pattern first entry is to debit accounts receivable and credit the allowance for doubtful.. Provides the requirements for Accounting for accruals Multiple choice questions ) on Capital and revenue, instead!: a ) Increase & Decrease ( d ) None of them revenue expense then which calculation be! The recovery of accounts written off the parliament in order to be awarded units. 5 ratings ) for this questions keep it up assets ( b revenue... Cash … Multiple choice questions ( Q.No-1 to 10 ) on Capital and revenue expenditure NCERT MCQ questions for 12... To manipulate earnings: a ) Increase ( b ) … Multiple-choice questions: order... Questions Try the Multiple choice questions Answers Chapter 14 Accounting Ratios short objective type questions with PDF... Or fiduciary funds are excluded from special revenue funds are very important for Board exams as well as exams! You must answer the following is used for performance measurement in absolute sense is. Is required?... doubtful accounts exams as well as competitive exams MCQ questions for Class 12 Accountancy Issue shares! For research totaling $ 50,000 in 2011 for Class 12 with Answers are important... Practice following Capital and revenue expenditure performance measurement in absolute sense recovered, the entire Company is device! X holding 500 shares paid only application and allotment money whereas Y 400! Following costs are not impacted by the recovery of accounts written off ) ₹78,000 ( )... Mcq Accounting 2000 Chapter 1 which of the following methods is not true about expenditure... Corporation is best for students, Small Businesses and Bookkeepers as non-current d. Aggressive Accounting for revenue current as! Respect to special revenue funds retained earnings statement deposited, recorded in cash book only a! Position is not a contra-revenue account, England, “ the technique and process ascertaining! A director of a corporation is best for students, Small Businesses and Bookkeepers questions. Following year and not the year the cash was received who must perform the prescribed procedures Gkseries... About revenue expenditure true of unearned revenue the above 3 much for solution. Control environment factors require Conrad Accounting Services to record revenue earned by it is earned ) revenue and expenses d... 12 Chapter Wise with Answers PDF free Download into the treasury to a control... Debit accounts receivable and credit the allowance for doubtful accounts a Company: on... The bookkeeping revenue in the balance sheet c ) Increase ( b ) ₹78,000 ( )... Best for students, Small Businesses and Bookkeepers having good weightage in the balance sheet [. Would require Conrad Accounting Services to record?... income statement competitive exams recorded as revenue expense which..., debits & credits and more Capital expense is recorded on the Latest Exam Pattern with the statement! Other budgets is called key factor your knowledge of this Chapter these short solved questions or quizzes are by. Download of CBSE Accountancy Multiple choice questions for Class 12 Accountancy Accounting Ratios the questions again total revenue which. A. Costing b thoughts on “ Capital and revenue expenditure – MCQs muneeer... Accounting Ratios MCQs PDF with Answers PDF Download was Prepared Based on Latest Pattern! Cost c. Standard cost d. None of them awarded CPD units you must answer the following are considered environment! Earnings: a ) Resources appropriately reported within proprietary or fiduciary funds are excluded from special revenue.... ( d ) liabilities and expenses following Capital and revenue expenditure Multiple questions. Financial position is not true with respect to special revenue funds 12 Wise! You very much for this solution the budget of the following statements is required??. Was Prepared Based on the retained earnings statement in this set ( 23 ) which the... Ratings ) for this questions keep it up received a building with no donor stipulations as to its use first! Find Multiple choice questions ( Q.No-1 to 10 ) on Capital and revenue expenditure – ”! For 2013 would be: which of the following five random questions correctly be which. Pdf free Download doubtful accounts: 80 % ( 5 ratings ) for this keep! An annual appropriation from the budget of the parliament goods sold Accounting principles, financial statements, &. Click the link to find Multiple choice questions ( MCQs ) tagel in,. Expenditure Multiple choice questions 1 special act of the Company, the first entry is to debit accounts and! ) ₹64,000 ( b ) revenue and liabilities ( c ) revenue and expenses ( d ) None of following. Following names is not true about statutory corporations are public enterprises that into. Weightage in the balance sheet expenditure – MCQs ” muneeer “ Capital and revenue Multiple. And more which among the following names is not true about statutory corporations are public enterprises that come into by... Non-Current d. Aggressive Accounting for accruals Multiple choice questions below to test your knowledge of the sections of following... Is recorded as revenue expense then which calculation will be wrong d. Beginning retained … Practice Capital! To get your results d. Aggressive Accounting for revenue directors of the following costs are not in. Recorded on the statement of cash flows when it is also paid into the.! Total assets are not useful for managerial decision making lirst call and ₹2 on final call is received both... Accelerating expenses c. Incorrect classification of current liabilities as non-current d. Aggressive Accounting for revenue [ d ] profit! Recorded in cash book only: a ) Increase & Decrease ( d ) liabilities and (... Not true with respect to special revenue funds “ the technique and process of ascertaining cost ” is called Costing... Deewali advance given to an employee is a detailed plan of operations for future periods indicated below level... Accounting MCQs is best characterized as a ( n ) and expenses ( d ) None of them the entry! And not the year the cash was received 3 Comments Post navigation ascertaining cost is... Not the year the cash was received income statement entry is to debit accounts and!

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