ACCOUNTING Online Test

Accounting data serves which of the following functions:


Consider the following statements and state which statements is correct:


Financial Statements are a part of:


Double Accounting System owes its origin to:


Which of the following is correct? Owner’s Equity is:


Fundamental accounting assumption are:


Contingent liability is shown as footnote of balance sheet due to


Accounting principle & policies is an entity should be followed uniformly form period to period is as per principle of:


Fundamental Accounting Assumptions are:


The owner of a company included his personal medical expenses in the company’s income statement. Indicate the principal that is violated:


Window dressing of Accounts means:


Contingent liabilities are shown in footnote of Balance sheet as per which concept?


In the accounting period, according to which concept, cost incurred to acquire an asset is shown in the Balance sheet.


Accounting Standard Board (ASB) is constituted by:


The Accounting Standards are:


Accounting for Fixed Assets:


IASB stands for:


The Accounting policies refer to:


Changes in Accounting Policies is permitted:


As per AS 1 disclosure should form part of:


The measurement base according to which, assets are carried at the amount of cash or equivalent that could currently be obtained by selling the assets in an orderly disposal is known as:


Goods in accounting specifically means:


Insurance unexpired accounts is a


A business has assets of Rs.44,312 and owner’s equity Rs.13,210. What is the amount of liabilities?


Purchase for office furniture on account (on credit) is recorded in


Debit note received from Sunil for return is entered in


To determine the details and accounting of a specific transaction, one should refer to


Which of the following accounts have only credit balance?


Ledger is an accounting book in which


Accrual system of accounting is also known as


Heavy initial advertisement expense on introducing a new product in the market should be classified as


A company has spent Rs.2,000 on painting the factory building. It should be treated as a


Share premium is a


Grant in aid received from the government for the construction of a building


Sale proceeds of merchandise (goods)


A company has spent Rs.8,000 on machinery repair out of which one part costing Rs.6,000 was replaced to improve efficiency of machine. Rest was spent for grease, oil, bolts etc. The amount of capital expenditure will be


Repairs incurred before using a second hand car purchased is a


38. Damages paid for breach of a contract is


Which of the following expenditure will not be classified as revenue expenditure?


Bank overdraft account is a:


If two or more transactions of the same nature are journalized together it is known as:


General Reserve Account and Dividend Equalisation Fund Account are


Unexpired expense is …………. account.


Proprietor’s Account is ………… Account.


Ledger Book is popularly known as:


Ledger records transaction in:


Discount Account will always have;


Purchase Return Account always shows a …………. balance.


Which of the following is known as “Principal Books of Accounts”?


Balances of the Accounts are transferred to:


Trial Balance creates ………………. accuracy.


Goods sold for cash Rs.10,000 plus 10% sales tax. Sales A/c will be credited by:


Total of Sales Book will be posted:


Cash Book is a form of:


Cheques received but deposited on the next day are recorded in:


Rs.2500, spent on the overhauling on purchase of second hand machinery:


Amount spent on increasing the seating capacity in a cinema hall is:


Brokerage on the issue of shares and debentures is a …………… expenditure:


‘Workmen Compensation Under Dispute’ is an example of


Bill discounted with a bank is ………….. .






























































Description:

CORPORATE LEADER'S ACADEMY

CLA TEST SERIES 2013-1

MAXIMUM TIME : 1 HOUR
MAXIMUM MARKS : 60
NO NEGATIVE MARKING

-AFTER ENDING THE TEST, YOU'LL BE HAVING A REGISTRATION FORM. THE TEST WILL BE SUCCESSFULLY SUBMITTED ONLY WHEN YOU FILL THE FORM.

*ALL THE BEST*

Discussion

Hafiz Noushad

This Test is very Knowledgeable and very informative

Thank you so much for conducting such type of test

3000 days 21 hours 19 minutes ago

Kemsaram Nagesh

THANK Q MBA TAB FOR CONDUCTING THIS TYPE OF TESTS PLEASE, CONDUCT THIS TYPE TESTS MORE AND MORE

3004 days 19 hours 17 minutes ago

3 Followers
Tests: 2

Your Facebook Friends on WizIQ

More Tests By Author

MERCANTILE LAWS
40 Questions | 185 Attempts