- Assets
- Drawings
- Liabilities
- None of these
- b
-
The drawing is a term which is used in commerce. A owner withdraws money from business for his personal use then this transaction will be called Drawings.
Accounting MCQs
Accounting MCQs are included in this portion of ETEST Website.All Accounting MCQs are solved with short detail. ETEST Team updates ETEST Website on daily basis.
Income Tax is levied on:
- Agricultural Income
- Presumptive Income
- Income Tax
- None of these
- b
Stratified Audit Sample means:
- Items carefully selected from each group
- Purposively selected items for audit
- Randomly selected items for audit
- None of these
- c
The requirements of an audit report for a Banking Company in Pakistan is under:
- Under the Banking Companies Ordinance 1962
- Under the Companies Ordinance 1984
- A & B
- None of these
- c
-
Companies Ordinance was passed on 8th October 1984.
This Companies Ordinance 1984 cancelled the Companies Ordinance 1913.
Now, Companies Ordinance 1984 replaced with Companies Ordinance 2017
The World Trade Organization (WTO):
- Rules on Trade disputes between nations
- Sets exchange rates to balance international trade among nations
- Is the Successor to NAFTA
- Set Tariffs to balance international trade among nations
- b
-
WTO stands for World Trade Organization.
WTO was founded on 1st January 1995.
WTO has 164 member states.
Its HQ is in Geneva Switzerland.
Which of the following are the functions of management?
- Organizing
- Coordinating
- Planning
- All of the above
- d
…… is process of motivating others to work to meet specific objectives.
- Motivation
- Free rein style
- Leadership
- Democratic Style
- c
Which of the following business paid double taxed to government?
- Partnership
- Joint Stock Company
- Cooperative Societies
- Sole Proprietorship
- b
How many types of Assets?
- 05
- 06
- 07
- 08
- b
-
Current Assets
Fixed Assets
Intangible Assets
Tangible Assets
Liquid or Quick Asset
Wasting Assets
Depreciation is basically …. To business.
- Profit
- Loss
- Recovery
- Earning
- b
-
Gradually decrease in the value of machinery or asset due to usage in business is called Depreciation.