Accounting Objective for B.COM students

By: Prof. Dr. Fazal Rehman | Last updated: March 3, 2022

Accounting Objective for B.COM students

(1) Interest in debited to the asset account…..

a) Insurance policy method

b) Depletion method

c) Depreciation fund method

d) Annuity Method

e) Replacement method

(2) For the replacement of asset the provision method is………….

a) Sinking fund method

b) Annuity method

c) Written down value method

d) Insurance policy method

e) Depletion method

(3) The profit on depreciation policy is…

a) Profit and loss account

b) Asset account

c) Depreciation fund account

d) Investment account

e) none of these

(4) The asset always appears in the provision method of depreciation is…..

a) Market price

b) Global price

c) Scrap value

d) Cost price

e) All of the above

(5) The net charge on the profit and loss account is same as…..

a) Depreciation fund method

b) Annuity method

c) Both A and B

d) None of these

(6) The depreciation fund method is usually known as…….

a) Annuity method

b) Sinking fund method

c)Depreciation method

d) Sum of year digits method

e) All of the above

Read More MCQs of Accounting

1. SET 1: Accounting MCQ's
2. SET 2: Accounting MCQ's
3. SET 3: Accounting MCQ's
4. SET 4: Accounting MCQ's
5. SET 5: Accounting MCQ's
6. SET 6: Accounting MCQ's
7. SET 7: Accounting MCQ's
8. SET 8: Accounting MCQ's

More Tutorials of Accounting on T4Tutorials