Accounting Objective for B.COM students

By: Prof. Fazal Rehman Shamil
Last modified on November 7th, 2020

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

Answer - Click Here:
D

(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

Answer - Click Here:
A

(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

Answer - Click Here:
C

(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

Answer - Click Here:
D

(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

Answer - Click Here:
C

(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

Answer - Click Here:
B/su_spoiler]

(7) The annual charge for depreciation will be debited under annuity method is.........

a) Interest account

b) Asset account

c) Depreciation account

d)  All of the above

Answer - Click Here:
C

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

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Prof. Fazal Rehman Shamil
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