
Managerial Accounting
Quiz
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Business
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University
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Practice Problem
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lalit shah
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30 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The process of recording financial data upto trial balance is
Book keeping
Classifying
Summarising
Analyzing
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Fixed assets are held by business for _____
Converting into cash
Generating revenue
Resale
None of the above
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is incorrect?
Good will intangible asset
Sundry debtors - current asset
Loose tools tangible fixed asset
Outstanding expenses -current asset.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Business enterprise is separate from its owner according to _____ concept.
Money measurement concept
Matching concept
Entity concept
Dual aspect
concept
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the Market value of closing Inventory is less than its cost price, inventory will
he shown at ____
Marketable value
Fair Market value
Both
none
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The main Purpose of Financial Accounting is?
To Provide financial information to shareholders
To maintain balance sheet
To minimize taxes.
To keep track of liabilities
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The kind of debts which are needed to be repaid in a short term is known as?
Fixed Liabilities
Current Liabilities
Depreciating Assets
Intangible Assets
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