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Accounting for Managers online mcq answer with practice set

Study Accounting for Managers online mcq answer with practice setfor your academic course and prepare for your exam and online assignments. You can give online FREE Quiz and test your knowledge on OMCQ portal.

#OMCQ #MCQ #OnlineMCQ #OnlineQuiz – Yes! After Practice of MCQ, you can give Online Quiz Test of Accounting for Managers Multiple Choice Question Practice Exam Online Set and check your knowledge about your study.

Exam Question

Which of the following is NOT a cash outflow for the firm?

  • 1. depreciation
  • 2. dividends
  • 3. interest payments
  • 4. taxes

View Answer

Answer 1. depreciation

Practice set and Exam Quiz

Yes! You can do Online MCQ practice of Accounting for Managers question set and give online exam quiz test for Accounting for Managers, so you can check your knowledge. You can get MCQ Study and Exam link from home page.

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Exam Question

The primary objective of cost accounting is

  • 1) Ascertain the cost of goods and services
  • 2) Ascertain the profit
  • 3) Presentation of all data
  • 4) None of these

View Answer

Answer 1) Ascertain the cost of goods and services

Practice set and Exam Quiz

Yes! You can do Online MCQ practice of Accounting for Managers question set and give online exam quiz test for Accounting for Managers, so you can check your knowledge. You can get MCQ Study and Exam link from home page.

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Exam Question

Debit the receiver credit the giver rule for

  • 1) Real a/c
  • 2) Personal a/c
  • 3) Nominal a/c
  • 4) None of these

View Answer

Answer 2) Personal a/c

Practice set and Exam Quiz

Yes! You can do Online MCQ practice of Accounting for Managers question set and give online exam quiz test for Accounting for Managers, so you can check your knowledge. You can get MCQ Study and Exam link from home page.

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Exam Question

Return of goods by a customer should be debited to

  • 1) Customers account
  • 2) Sales return account
  • 3) Goods account
  • 4) Purchase account

View Answer

Answer 2) Sales return account

Practice set and Exam Quiz

Yes! You can do Online MCQ practice of Accounting for Managers question set and give online exam quiz test for Accounting for Managers, so you can check your knowledge. You can get MCQ Study and Exam link from home page.

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Exam Question

The revenue recognition principal dictates that all types of incomes should be recorded or recognized when

  • 1) Cash is received
  • 2) At the end of accounting period
  • 3) When they are earned
  • 4) When interest is paid

View Answer

Answer 3) When they are earned

Practice set and Exam Quiz

Yes! You can do Online MCQ practice of Accounting for Managers question set and give online exam quiz test for Accounting for Managers, so you can check your knowledge. You can get MCQ Study and Exam link from home page.

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Exam Question

Rules of action or conduct adopted by the accountants universally while recording accounting transaction

  • 1) Accounting convention
  • 2) Accounting concepts
  • 3) Accounting principles
  • 4) None of these

View Answer

Answer 3) Accounting principles

Practice set and Exam Quiz

Yes! You can do Online MCQ practice of Accounting for Managers question set and give online exam quiz test for Accounting for Managers, so you can check your knowledge. You can get MCQ Study and Exam link from home page.

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Exam Question

Rent paid to landlord should be credited to

  • 1) Landlords account
  • 2) Rent account
  • 3) Cash account
  • 4) Expense account

View Answer

Answer 3) Cash account

Practice set and Exam Quiz

Yes! You can do Online MCQ practice of Accounting for Managers question set and give online exam quiz test for Accounting for Managers, so you can check your knowledge. You can get MCQ Study and Exam link from home page.

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Exam Question

The…of a company determines its ability to utilise the Assets employed in the company efficiently and effectively to earn a good return.

  • 1. Return on Assets
  • 2. Analysis Ratio analysis
  • 3. Dividend Coverage Ratio
  • 4. Analysis Ratio analysis

View Answer

Answer 1. Return on Assets

Practice set and Exam Quiz

Yes! You can do Online MCQ practice of Accounting for Managers question set and give online exam quiz test for Accounting for Managers, so you can check your knowledge. You can get MCQ Study and Exam link from home page.

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Exam Question

The concept of separate entity is applicable to which of following types of businesses?

  • 1) Sole proprietorship
  • 2) Corporation
  • 3) Partnership
  • 4) All of them

View Answer

Answer 4) All of them

Practice set and Exam Quiz

Yes! You can do Online MCQ practice of Accounting for Managers question set and give online exam quiz test for Accounting for Managers, so you can check your knowledge. You can get MCQ Study and Exam link from home page.

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Exam Question

Information about an item is…if its omission or misstatement might influence the financial decision of the users taken on the basis of that information

  • 1) Concrete
  • 2) Complete
  • 3) ImMaterial
  • 4) Material

View Answer

Answer 4) Material

Practice set and Exam Quiz

Yes! You can do Online MCQ practice of Accounting for Managers question set and give online exam quiz test for Accounting for Managers, so you can check your knowledge. You can get MCQ Study and Exam link from home page.

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Exam Question

Which of the following assets does not depreciate?

  • 1. Machinery and Equipment
  • 2. Patents
  • 3. Land
  • 4. Furniture

View Answer

Answer 3. Land

Practice set and Exam Quiz

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Exam Question

Which one of the following items would fall under the definition of a liability

  • 1) Cash
  • 2) Debtor
  • 3) Owner’s equity
  • 4) None of these

View Answer

Answer 3) Owner’s equity

Practice set and Exam Quiz

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Exam Question

Prepaid expense is treated as

  • 1) Current asset
  • 2) Current liability
  • 3) Short term liability
  • 4) None of these

View Answer

Answer 1) Current asset

Practice set and Exam Quiz

Yes! You can do Online MCQ practice of Accounting for Managers question set and give online exam quiz test for Accounting for Managers, so you can check your knowledge. You can get MCQ Study and Exam link from home page.

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Exam Question

Debit what come in Credit what goes out rule for

  • 1) Real a/c
  • 2) Personal a/c
  • 3) Nominal a/c
  • 4) None of these

View Answer

Answer 1) Real a/c

Practice set and Exam Quiz

Yes! You can do Online MCQ practice of Accounting for Managers question set and give online exam quiz test for Accounting for Managers, so you can check your knowledge. You can get MCQ Study and Exam link from home page.

Discuss if any doubt

Exam Question

Amount brought in by proprietor should be credited to

  • 1) cash account
  • 2) capital account
  • 3) drawings account
  • 4) creditors account

View Answer

Answer 2) capital account

Practice set and Exam Quiz

Yes! You can do Online MCQ practice of Accounting for Managers question set and give online exam quiz test for Accounting for Managers, so you can check your knowledge. You can get MCQ Study and Exam link from home page.

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Exam Question

Fixed assets and current assets are categorized as per concept of:

  • 1) Separate entity
  • 2) Going concern
  • 3) Consistency
  • 4) Time period

View Answer

Answer 2) Going concern

Practice set and Exam Quiz

Yes! You can do Online MCQ practice of Accounting for Managers question set and give online exam quiz test for Accounting for Managers, so you can check your knowledge. You can get MCQ Study and Exam link from home page.

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Exam Question

Outstanding expenses are charged to

  • 1) Asset side of balance sheet
  • 2) Liability side of balance sheet
  • 3) Not charged to balance sheet
  • 4) None of these

View Answer

Answer 2) Liability side of balance sheet

Practice set and Exam Quiz

Yes! You can do Online MCQ practice of Accounting for Managers question set and give online exam quiz test for Accounting for Managers, so you can check your knowledge. You can get MCQ Study and Exam link from home page.

Discuss if any doubt

Exam Question

Financial information should be neutral and bias free” is the dictation of which one of the following?

  • 1) Completeness concept
  • 2) Faithful representation Concept
  • 3) Objectivity Concept
  • 4) Duality Concept

View Answer

Answer 3) Objectivity Concept

Practice set and Exam Quiz

Yes! You can do Online MCQ practice of Accounting for Managers question set and give online exam quiz test for Accounting for Managers, so you can check your knowledge. You can get MCQ Study and Exam link from home page.

Discuss if any doubt

Exam Question

If closing stock appears in the trial balance, it should be

  • 1) Credited to the trading account
  • 2) Credited to the profit and loss account
  • 3) Deducted from the purchases in the trading account
  • 4) Shown on the liability side of the Balance sheet

View Answer

Answer 1) Credited to the trading account

Practice set and Exam Quiz

Yes! You can do Online MCQ practice of Accounting for Managers question set and give online exam quiz test for Accounting for Managers, so you can check your knowledge. You can get MCQ Study and Exam link from home page.

Discuss if any doubt

Exam Question

Proprietor (owner) is treated as creditor of business due to:

  • 1) Periodicity concept
  • 2) Materiality Principle
  • 3) Entity Concept
  • 4) Consistency concept

View Answer

Answer 3) Entity Concept

Practice set and Exam Quiz

Yes! You can do Online MCQ practice of Accounting for Managers question set and give online exam quiz test for Accounting for Managers, so you can check your knowledge. You can get MCQ Study and Exam link from home page.

Discuss if any doubt
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Important note for exam preparation: Must try Online MCQ Quiz Test after practice these Accounting for Managers MCQ, so you can check your knowledge and improve efficiency. You can get link from above mention for these subjects.