- Low level language
- High level language
- Assembly language
- None of these
- b
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.
What is compiler?
- Compiler is a language providing very efficient execution.
- A Compiler is a conversion line by line as the program is run.
- A compiler is a special program that processes statements written in a particular programming language and terns them into matching language.
- None of these
- c
The difference between investment’s market value and its cost is called the ……of the investment.
- Economic Value
- Net Present Value
- Book Value
- Social Value
- b
-
The difference between cash inflows and cash outflows within a specific time period is called NPV.
NPV stands for Net Present Value
Which of the following is the acronym for GAAP?
- Generally Accepted Accounting Principle
- Generally Adopted Accounting Principle
- Generally Actual Accounting Paper
- All of the Above
- a
-
GAAP is a collection of accounting rules and standards for financial reporting.
Which of the following business form of business organization is least regulated?
- Limited Partnership
- General Partnership
- Sole Proprietorship
- Corporation
- c
-
In our routine life, Everyone is running a shop / business is called Sole Proprietorship.
OR
Sole Proprietorship is a simple form of business that have not documental registered entity.
The ability of a firm to convert an asset to cash is called:
- Solvency
- Liquidity
- Return
- None of these
- b
Public Company should start business only after getting certificate of:
- Corporation
- After One Year
- ISO
- Commencement of Business
- d
Every business transaction affects at least ….accounts.
- Two
- Three
- Four
- Five
- a
General Journal is a book of ……entry.
- Original
- Final
- Generic
- First
- a
-
In general Journal, The accountant notes all transaction on daily basis.
The system of recording transactions base on duel aspect concept is called:
- Double Accounting System
- Double Entry System
- Single Entry System
- None of the above
- b
-
Double Entry System is a such accounting system in which Debit and Credit sides must be maintained according to transaction.