A. Credit balance of Provision for Bad Debts Account
B. Debit balance of Provision for Bad Debts Account
C. Debit balance of Bad Debts Account
D. Debit balance of Discount on Debtors Account
Accounting Mcqs
Accounting Mcqs for Preparation of various Test announced by Fpsc, kppsc, Nts, ppsc. accounting mcqs for accountant. These Mcqs are very helpful for the Preparation of various posts of Senior Auditor, Junior Auditor, Accountant and for Cost Accountant.
Principles of Accounting, Accounting Equation, Analyzing & Classifying Transaction, Journal, Ledger, Banking Transactions, Cash book and Bank Reconciliation Statement, Bill of Exchange, Capital & Revenue, Rectification of Errors, Final Accounts, Adjustments.
A. Finished goods
B. Work-in-process
C. Stores and spares
D. Advance payments made to suppliers for raw materials
A. Written down to zero or its scrap value
B. Shown in the Balance Sheet at its replacement cost
C. Shown in the Balance Sheet at cost, but classified as a non-current asset
D. Carried in the accounting records at cost until it is sold
A. Balance Sheet
B. Directors‘ report
C. Notes on account to Balance Sheet
D. Chairman‘s report
Contingent liabilities are disclosed in the notes to Balance Sheet
A. Shown as a deduction from contract work-in-progress on asset side
B. Shown as a liability
C. Credited to P&L A/c
D. Either A or B above
A. Asset side
B. Liability side
C. Netted from Capital
D. Profit & Loss A/c
A. Assets side
B. Liability side
C. Profit & Loss A/c
D. Debited to Capital A/c
A. Opening Stock
B. Carriage inward
C. Wages & Salary
D. Postage & Stamps
A. Debtor
B. Creditor
C. Defaulter
D. Offender
A. Debit Provision for Bad Debts A/c and credit Debtors A/c
B. Debit Debtors A/c and credit Provision for Bad Debts A/c
C. Debit Provision for Bad Debts A/c and credit Profit & Loss A/c
D. Debit Profit and Loss A/c and credit Provision for Bad Debts A/c.
