Business and Finance MCQs Test 06 Preparation Online Shani Malik — May 21, 2018 in Economics • add comment Business and Finance MCQs Test 06 Preparation Online Economics 1. A bank account is a:A. Liability accountB. Real accountC. Personal accountD. Nominal account Loading... 2. Which method of costing is used by sugar mills ?A. Unit or output costingB. Batch costingC. Job costingD. Process costing Loading... 3. What is Conversion Cost ?A. Total cost of running businessB. Cost of materials and labour C. Cost of transforming direct materials into finished productsD. Cost of labour Loading... 4. Depreciation is the process of:A. Valuation of assetsB. Allocation of costsC. None of the aboveD. Use of assets Loading... 5. Sale of old furniture on credit will appear in the:A. Sales day bookB. Cash bookC. Journal D. Debtors ledger Loading... 6. Prepaid expenses appearing in a trial balance will figure in the:A. Profit and loss accountB. Prepaid expenses accountC. Profit and loss account and balance sheetD. Balance sheet Loading... 7. Goodwill of a firm represents:A. Tangible assetsB. Fictitious assetsC. Intangible assetsD. Fixed assets Loading... 8. In an integrated costing system, most of the data relevant to cost accounting comes from the:A. Financial accounting systemB. Sales and distribution system V H-C. Cost accounting systemD. Stores accounting system Loading... 9. What is the objective of cost accounting ?A. Cost determinationB. Cost analysisC. Cost control D. All of the above Loading... 10. The excess of current assets over current liabilities is called:A. TurnoverB. Working capitalC. Net tangible worthD. Net worth Loading... Loading...
