Investment in own share A/c appears in____________?

Related Mcqs:

1. Tax deducted at source A/c appears in___________?

   A. Assets side
   B. Liability side
   C. Profit & Loss A/c
   D. Debited to Capital A/c

2. If unexpired insurance appears in the Trial Balance, it should be:

   A. Credited to the Profit & Loss Account
   B. Debited to the Profit & Loss Account
   C. Shown on the liabilities side of the Balance Sheet
   D. Shown on the assets side of the Balance Sheet

3. Tax deducted at source appears in the Balance Sheet

   A. On the assets side under current assets
   B. On the assets side under loans and advances
   C. On the liabilities side under current liabilities
   D. On the liabilities side under provisions

4. A cash deposit made by business appears on the bank statement as _______ balance?

   A. Debit
   B. Credit
   C. Expenses
   D. Liability

5. Institute of Chartered Accountants of Pakistan was established in____________?

   A. 1949
   B. 1956
   C. 1961
   D. 1972

6. Based on which of the following concepts, is Share Capital Account shown on the liabilities side of a Balance Sheet?

   A. Business entity concept
   B. Money measurement concept
   C. Going concern concept
   D. Matching concept

7. If the asset turnover and profit margin of a company are 1.85 and 0.35 respectively, the return on investment is.

   A. 0.65
   B. 0.35
   C. 1.50
   D. 5.29

8. Credit note is the basis for recording a transaction in which of the following SPECIALIZED journals?

   A. Purchase journal
   B. Sales return journal
   C. General journal
   D. Cash receipt journal

9. Identify the nominal account

   A. Machinery account
   B. Building account
   C. Creditors account
   D. Rent expenses account

10. The Balance Sheet gives information regarding the____________?

    A. Results of operations for a particular period
    B. Financial position during a particular period
    C. Profit earning capacity for a particular period
    D. Financial position as on a particular date