You can study mcq objective type question answer set 7 for online assignment and exam of distance learning program. DistPub bring collection of online multiple choice objective type questions.
Previous Account for Manager Online Assignment
- Account for Manager Online Set 1
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- Account for Manager Online Set 7
- Account for Manager Online Set 8
- Account for Managers Online MCQ 9
Account for Manager Online Assignment Set 7
Q1: Which of the following is method applied on toy factory
Process costing
Operating costing
Unit costing
Non of the above
Answer
Answer: Process costing
Q2: Debit are all
Assets
expenses
Losses
All of the above
Answer
Answer: Assets
Q3: Which of the cost is not considered as a cost of inventory?
Purchases Cost
Freight Inward
Interest cost
Production cost
Answer
Answer: Interest cost
Q4: Profit leads to increase in
Assets
Capital
1 &2 both
All of the above
Answer
Answer: Capital
Q5: Payment of Income tax is which type of activity
Operating
Financing
Investing
None of the above
Answer
Answer: Operating
Q6: “If profit is 1,00,000 and Profit volume ratio is 40% then what will be margin of safety: “
250000
40000
2500
400
Answer
Answer: 40000
Q7: Share issue for purchase of building is
Inflow of cash
Out flow
in and out flow both
No flow cash
Answer
Answer: Inflow of cash
Q8: Which of the following calculate the actual cost of product?
Cost estimation
Costing
Both a and b
None of these
Answer
Answer: Costing
Q9: In ABC analysis of inventory the value Category A is
Highest
Lowest
Midium
non of the above
Answer
Answer: Highest
Q10: Variable cost means?
The cost which remain fixed in total
The cost which remain fixed per unit
The cost which may fixed or vary
All of the above
Answer
Answer: The cost which remain fixed per unit
Q11: When the revenue should be recognised
Goods sold
Cash received
Risk and reward of goods has been transferred
None of the above
Answer
Answer: Risk and reward of goods has been transferred
Q12: In case of tranport company which method of costing is better
Unit costing
Process costing
Operating costing
Job costing
Answer
Answer: Operating costing
Q13: Which of the following method of depreciation provide lower amount
Straight line method
Written down method
None of the above
All of the above
Answer
Answer: Written down method
Q14: Which of the following is not a part of inventory?
Finished goods
“Raw material components, consumables and supplies”
Spare parts of Plant and Machinery
Work- in-Progress
Answer
Answer: Spare parts of Plant and Machinery
Q15: Maximum period of issue of debenture in years
10
5
20
15
Answer
Answer: 10
Q16: Which Accounting standard is apply on Cash flow statement
2
6
3
9
Answer
Answer: 3
Q17: “Direct material , Direct labour and direct expenses combinely called “
Factory cost
Office cost
Total cost
Prime cost
Answer
Answer: Prime cost
Q18: Revenue Minus expenditure equal to
Total cost
Total sales
Total Turnover
Non of the above
Answer
Answer: Non of the above
Q19: Profit volume ratio can be calculated:
Sales/Profit x 100
Profit/Sales x 100
contribution/Sales x 100
Variable cost/Fixed cost x 100
Answer
Answer: contribution/Sales x 100
Q20: “If you start with be cash book deposit balance in a bank reconciliation statement, Which item/items will you add “
Cheques issued but not yet presented for payment
Accounts directly deposited by a customer into hank
Interest allowed by the bank
All of the above
Answer
Answer: All of the above
Q21: budgets are prepared on the basis of
past experience
Futher experience
None of the above
All of the above
Answer
Answer: All of the above
Q22: Financial statement only consider
Assets expressed in monetary terms
Liabilities expressed in monetary terms
Assets expressed in non monetary terms
Assets & liabilities expressed in monetary terms
Answer
Answer: Assets & liabilities expressed in monetary terms
Q23: Sales book is
Principal book
Subsidary book
Journal proper
None of the above
Answer
Answer: Subsidary book
Q24: Dividend Received is part of which activity of cash flow statement
Operating
Investing
Financing
None of the above
Answer
Answer: Investing
Q25: Drawing account is in the nature of?
Personal account
Real account
Niminal account
None of the above
Answer
Answer: Personal account
Q26: Economic life of an enterprise is split into the periodic interval as per which concept
Money Measurement
Going concern
Accrual.
Matching
Answer
Answer: Going concern
Q27: Cash equivelent includes
Marketible security
Inventory
Building
All of the above
Answer
Answer: Marketible security
Q28: Break even point is point where
Fixed = to variable cost
variable cost = to sales
sales= total cost
All of the above
Answer
Answer: sales= total cost
Q29: Which of the following is not fundamental accounting assumption
Consistancy
Going concern
Accrual.
Non of the above
Answer
Answer: Non of the above
Q30: “If an individual asset is increased, there will be a corresponding”
Increase of another asset or increase of capital
Decrease of another asset or increase of liability
Decrease of specific liability or decrease of capital
Increased of drawings and liability
Answer
Answer: Decrease of another asset or increase of liability
Q31: Where units are identified then which method of invenoty valuation is better
FIFO
LIFO
Weighted average method
non of the above
Answer
Answer: FIFO
Q32: Which Accounting standard is apply on Fixed Assets
9
11
15
10
Answer
Answer: 10
Q33: Break even point is the point where
Sales is equal to fixed cost
Sales equal to total cost
Fixed cost + variable cost
Non of the above
Answer
Answer: Sales equal to total cost
Q34: Purchase of building is which types of expenditure
Capital
Revenue
deffered Revenue
None of the above
Answer
Answer: Capital
Q35: Margin of safety is
sales- cost
Sales – total cost
Fixed cost + variable cost
Sales – Break even sales
Answer
Answer: Sales – Break even sales
Q36: It is essential to standardize the accounting principles and policies in order to ensure
Transparency
Consistency
Comparability
All of the above
Answer
Answer: All of the above
Q37: On which of the following assets no depreciation is charged
Inventory
Land
Live stock
All of the above
Answer
Answer: All of the above
Q38: At break even point fixed cost equal to
Profit
variable cost
sales
Contribution
Answer
Answer: Contribution
Q39: If share are issued over and above the face value this excessive portion is called
Share capital
Discount
Security Premium
Non of the above
Answer
Answer: Security Premium
Q40: “Which financial statement represents the accounting equation, assets =Liabilities + Owner s equity”
Income Statement
Statement of Cash flows
Balance Sheet
None of the above
Answer
Answer: Balance Sheet
