Financial Accounting MCQS with Answers
Goodwill is ———– for company.
Fixed asset
Quick asset
Current asset
Intangible asset
Manufacturing concern cycle is ———- than trading concern cycle:
Medium
None of above
Greater
Shorter
Per Unit cost is calculated by dividing the cost of goods sold by
The number of units sold
All of the above
The number of units purchase
The number of units manufactured
How many of grace are given?
2
4
5
3
Deferred liabilities are debts which are repayable less than ———-
None
Six month
One month
One year
The technique and process of ascertaining cost is termed as
Controlling cost
Costing
Cost accounting
Calculation of cost
A person is said to be insolvent when his
Assets are not enough to pay his liabilities
None
Assets are enough to pay his liabilities
Assets are sufficient
Assets which have to no market value are called
Liquid assets
Intangible assets
Real assets
Fictitious assets
Which one is not accounting convention?
Going concern
Materiality
Full disclosure
Consistency
Depreciation expenditure is a
Semi-variable cost
Fixed cost
Variable cost
Step fixed cost
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