Financial Accounting in Business Management : Practice MCQ Questions & Answers with Explanations

Who is the person take property on the lease agreement

What is an example of wasting asset

Principal books of accounting is known as

Which is one which has been sent by one party but not received by the other before theclosing books of accounts.

The price of goods sent by head office to branch at a price higher than cost price called

Which is the statement sent by the consignee to the consignor regarding the sale of goods consigned.

Assets having definite shape and physical existence are called

Branches may be classified in to

In which stage short working arise

Branches not keeping full system of accounting called

The process of transferring items from branch books to the head office books and the preparation ofconsolidated balance sheet is called ---------------------

Balance sheet show -------------------- and ------------------- of fund

Which Expenditure is incurred to maintain the business or to keep the assets on good working condition

The term ------------------ denotes the cost of services and things used for earning revenue

Prepaid expenses is ------------------- to the business

Trading and profit and loss account is known as ----------------------- statement

Adjustment given in trial balance is known as

The accounts for the dependent branches are maintained only in the books of

The amount of reserve deducted from the

Managers commission is calculated on