- If the period is less then one year
- Period should be one month
- Period should be 2 Years
- Period should be 15 days
- a
-
Long term loan consist of more then one year time period
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.
Current Ratio is calculated as:
- Capital/Assets
- Current Assets/Current Liabilities
- Current Assets/Drawings
- Current Liabilities/Capital
- b
-
Current Ratio shows about the loss & profit of company to partners within a specific time period.
Income Tax rates are same for:
- Limited Companies
- Banking Companiesb
- Private Limited Companies
- None of these
- b
Audit of a bank generally conducted through:
- 31st of every month
- Weekly basis
- Routine Checking
- Balance sheet Audit
- c
Source of financing of the Provincial Annual Development Program (ADP) is:
- Provincial Revenues
- Federal Financial Assistance
- Foreign Aided funds
- All of these above.
- d
While constructing Dam, flow of water reduces due to dredging of the bridge, this is cost is considered as:
- Direct Cost
- Tangible Cost
- Indirect Cost
- Intangible Cost
- c
Conversion cost is:
- Overhead cost + Direct Labour
- Direct Labour + Material Expense
- Labour cost + Overhead cost
- None of These
- C
-
The Labour cost is the sum of all wages paid to employees, as well as the cost of employees benefits, payroll taxes by an employer.
Overhead Cost is Advertising Expenses, Insurance, Interest, Rent, Repair & Maintenance, Telephone Bills & etc.
Fixed Cost:
- Changes with production
- Never Changes even if production capacity is doubled.
- Fixed cost related to goods only
- None of these
- b
-
Fixed cost is a cost that does not change with an increase or decrease in the amount of goods or services.
Fixed cost are expenses that have to be paid by a company i.e. Rent, Interest etc.
Fiscal year is from:
- Jan-Dec
- July 1-June 30b
- June-June
- August-August
- b
-
Fiscal year starts from 1st July & ends on 30th June of every year.
Fiscal is a Commerce language for a business year.
Retained Earning is synonymous:
- Loss for 6 months
- Accumulated Profit and loss account
- Profit for the year
- None of these
- b