Q.1
What does 'aged debtors analysis' signify?
Q.2
Which of the following is the most common cause of bad debt?
Q.3
XYZ firm has imported a machine from abroad. Which of the following is NOT the element of the machine's cost?
Q.4
Which of the following foxed assets is not depreciated in the ordinary circumstances?
Q.5
Which of the following is/are kind of depreciation expenses?
Q.6
In depreciation calculation, the useful life of a fixed asset is:
Q.7
When it is certain that a debt won't be recovered. Which of the following is correct?
Q.8
All of the following are the methods of inventory costing except
Q.9
Which accounting concept dictates the inclusion of 'provision for doubtful debts' in the financial statements?
Q.10
Which of the following is a commonly used base to create the provision for doubtful debts?
Q.11
A company purchased a vehicle for Rs.6000. It will be used for 5 years and its residual value is expected to be Rs.1000. What is the annual amount of depreciation using straight line method of depreciation?
Q.12
Which of the following is the normal balance of an accumulated depreciation account?
Q.13
Current assets are also known as
Q.14
The expenses related to the main operations of a business are referred to as
Q.15
In the calculation of depreciation, all of the following items are actually estimates except:
Q.16
Under which method of depreciation, the amount of depreciation expenses remains constant throughout the life of the asset?
Q.17
Depreciable amount + Residual value of a fixed asset = ?
Q.18
Cost of a fixed asset - Accumulated depreciation expenses of the fixed asset = ?
Q.19
How trial balance shows the accumulated depreciation?
Q.20
Which of the following is a double entry for deprecation expenses?
Q.21
A current asset that is convertible to cash within 3 months can be referred to as
Q.22
What is depreciation?
Q.23
Which of the following financial reports shows the profitability of a business?
Q.24
An increase in the value of fixed asset is referred to as:
Q.25
In income statement, gross profit is always equal to
Q.26
Office equipment is a ______ asset for a computer manufacturer and the same office equipment is a ____ asset for a company that deals in these equipments
Q.27
Financial statements mainly help in
Q.28
Exercising a degree of caution in the case of judgements needed under the condition of uncertainity is the assumption of which of the following accounting concepts?
Q.29
Which one of the following concepts states that the publication or presentation of financial statements should not be delayed?
Q.30
The purchase price of a software that will be used for more than 12 months should be regarded as
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