Financial accounting provides financial information to all of the following external users except:?
A. Government agencies
B. investors
C. Creditors
D. Managers
Category: Accounting Mcqs
Which of the following is an item of capital expenditure??
A. Research and development costs during the year
B. Interest on borrowed fund utilized for acquisition of Office Furniture
C. Installation charges paid in conjunction with the purchase of Office Equipment
D. Monthly rent of a machinery used in the business
A brief explanation recorded below every entry in general journal is commonly known as__________??
A. Narration
B. Explanation
C. Summary
D. Other information
The person to whom goods are sold on credit is called___________??
A. Buyer
B. Seller
C. Debtor
D. Creditor
Which of the following accounts appear(s) in the Balance Sheet of a business??
i. Stock at the end of the financial year ii. Stock at the beginning of the financial year iii. Drawings iv. Prepaid Rent v. Interest received but not yet earned A. Only (i) above
B. Only (iii) above
C. Both (i)and (iii) above
D. (i), (iii), (iv) and (v) above
The amount payable to a person as consideration for the use of rights vested in him is?
A. Dividend
B. Royalty
C. Purchase consideration
D. Installment
Drawings by owner of business are generally recorded on which of the following side of a cash book??
A. Receipts
B. Payments
C. Incomes
D. Expenditures
Goodwill A/c is a/an__________??
A. Nominal A/c
B. Tangible Asset
C. Intangible Asset
D. Fictitious Asset
Cash brought by the owner to start business is called__________??
A. Capital
B. Loan
C. Drawing
D. None of these
