Accounting MCQs with Answers

Stock control through stock levels and EOQ is called .

1. automatic order method.
2. control by important and exception.
3. perpetual inventory system.
4. demand and supply method.

Which one of the following is a single-use plan?

1. Strategy
2. Budget
3. Rule
4. Method

Offshoring is :

1. Importing
2. Exporting
3. Subcontracting a part of production to another firm.
4. Substituting foreign for domestic labor.

What does the consumer price index (CPI) calculate?

1. Price of services only
2. Price of goods only
3. Price of both goods and services
4. None of the above

On balance sheet, accruals, notes payable, and account payable are listed under which category?

1. Current Liabilities
2. Accumulated Liabilities
3. Non current Liabilities
4. Accrued Liabilities

In cash book, the favorable balance indicates

1. Credit Balance
2. Debit Balance
3. Bank Overdraft
4. Adjusted Balance

In cash book, the favorable balance indicates

1. Credit Balance
2. Debit Balance
3. Bank Overdraft
4. Adjusted Balance

An un adjusted balance in cash book is because of the result of which error?

1. Unpresented cheques
2. Outstanding cheques
3. The omission of Bank charges
4. Deposit in transit

A method used in a comparative analysis of financial statement is:

1. Graphical analysis
2. Preference analysis
3. Common size analysis
4. Returning analysis

Which statement shows the flow of cash and cash equivalents during the financial period ?

1. Cash flow statement
2. Statement of changes in equity
3. Balance sheet
4. Income statement

All these basic Accounting MCQs with Answers PDF for accounting exam test preparation. These basic Accounting MCQs help students in their Accounting jobs test preparation.

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