Which of the following bases is not appropriate for apportionment of Transport department‘s cost ??
A. Crane hours
B. Crane value
C. Truck Mileage
D. Truck value
Category: Accounting Mcqs
Payment of rent expenses is recorded on which side of cash book??
A. Receipts
B. Payments
C. Income
D. Expense
_________is the cost of converting raw material into finished products??
A. Prime cost
B. Explicit cost
C. Job order cost
D. Conversion cost
Current assets – Current liabilities=??
A. Capital
B. Absorbed capital
C. Net assets
D. Net working capital
The cost of obsolete inventory acquired several years ago, to be considered in a keep vs. disposal decision is an example of :?
A. Uncontrollable cost
B. Sunk cost
C. Avoidable cost
D. Opportunity cost
Debit balance = Credit balance in a trial balance indicates that:?
A. No error in recording transactions
B. No error in posting entries to ledger accounts
C. Account balances are correct
D. Mathematically Capital Liabilities=Assets
A systematic way to maintain the books of accounts is called_________??
A. Accountancy
B. Economics
C. Book Keeping
D. Auditing
Unpresented checks also referred as____________??
A. Uncollected checks
B. Uncredited checks
C. Outstanding checks
D. Bounced checks
A check returned by bank marked “NSF” means that:?
A. Bank can’t verify your identity
B. There are not sufficient funds in your account
C. Check has been forged
D. Check can’t be cashed being illegal
Which of the following methods is not a practical way of realizing revenue??
A. Delivery method
B. Percentage-of-completion method
C. Production method
D. Moving average method
