11th Principles of Accounting MCQS Chapter 13

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11th Principles of Accounting MCQS
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Transaction, having short-term effects are known as
Revenue transaction
Non-monetary transaction
Capital transaction
Paper transaction

Wages paid for the construction of building is an example of
Recurring expenditure
Short-term expenditure
Capital expenditure
Revenue expenditure

Octori duty paid on machinery, is an example of
Revenue expenditure
Recurring expenditure
Capital expenditure
Both a & b

An expenditure, which is incurred to increase to profit earning capacity of a business concern, is called
Deferred expenditure
Recurring expenditure
Capital expenditure
Current expenditure

Heavy expenditure on advertisement for making a new product is a
Deferred expenditure
Non-recurring expenditure
Revenue expenditure
Capital loss

An expenditure, which is temporarily increase the profit making capacity of the business is called
Non-recurring expenditure
Revenue expenditure
Capital expenditure
Deferred expenditure

A revenue expenditure, the benefit of which is not confined to one accounting year is called
Deferred expenditure
Non-current expenditure
Future expenditure
Revenue expenditure

Cost of redecorating a cinema hall is a
Revenue expenditure
Capital expenditure
Capital loss
None of these

Expenditure is a capital expenditure because
It is the personal expenditure of the owner out of his capital
It is a recurring expenditure
The amount involved is heavy
It is intended to benefit the future period

Distinction between capital and revenue items is important for the preparation
Trading and profit or loss a/c
Bank reconciliation statement
Balance sheet
Both a & b

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