नेपाल राष्ट्र बैंक तयारीको लागि लेखा सम्बन्धि बहुबैकल्पिक प्रश्न उत्तरहरु हेर्नु होस्
Financial Accounting Multiple Choice Questions
Accounting Multiple-Choice Questions – importance for NRB and na.su
Please like and share .
1) We can say that the business is in profit, when:
A) Assets exceed Expenditure
B) Income exceeds Liabilities
C) Income exceeds Expenditure
D) Income exceeds Liabilities
Answer : C) Income exceeds Expenditure
2) According to the double entry system of accounting, an account that obtains benefit is:
D) No need to show as accounting record
Answer : A) Credit
3) Term “Credit” means_______ by the business.
A) Receiving of benefits
B) It has no effect on business
C) Providing of benefits
D) It depends upon items
Answer : A) Receiving of benefits
4) When a Liability is reduced or decreased, it is recorded on the:
A) Left or credit side of the account
B) Right or debit side of the account
C) Right or credit side of the account
D) Left or debit side of the account
Answer : D) Left or debit side of the account
5) When Capital is increased by an amount, it is recorded on the:
A) Right or debit side of the account
B) Left or credit side of the account
C) Left or debit side of the account
D) Right or credit side of the account
Answer : D) Right or credit side of the account
6) What type of expenses are paid out of Gross Profit?
A) General Expenses
B) Financial Expenses
C) Selling Expenses
D) All of the given options
Answer : D) All of the given options
7) Which of the following shows summary of a company’s financial position at a specific date?
A) Profit & Loss Account
B) Cash Flow Statement
C) Balance Sheet
D) Income & Expenditure Account
Answer : C) Balance Sheet
8) Which of the following is NOT an example of intangible assets?
A) Franchise rights
Answer : D) Land
9) Which of the following is an example of business liability?
Answer : D) Creditors
10) The unfavorable balance of Profit and Loss account should be:
A) Added in liabilities
B) Subtracted from current assets
C) Subtracted from capital
D) Subtracted from liabilities
Answer : C) Subtracted from capital
11. The accounting profession can be divided into three major categories; specifically, the practice of public accounting, private accounting, and governmental accounting. A somewhat unique and important service of public accountants is:
a. Financial accounting.
b. Managerial accounting.
d. Cost accounting.
Ans : c. Auditing.
12. The primary private sector agency that oversees external financial reporting standards is the:
a. Financial Accounting Standards Board.
b. Federal Bureau of Investigation.
c. General Accounting Office.
d. Internal Revenue Service.
Ans : a. Financial Accounting Standards Board.
13. Which of the following equations properly represents a derivation of the fundamental accounting equation?
a. Assets + liabilities = owner’s equity.
b. Assets = owner’s equity.
c. Cash = assets.
d. Assets – liabilities = owner’s equity.
Ans : d. Assets – liabilities = owner’s equity.
14. Wilson Company owns land that cost $100,000. If a “quick sale” of the land was necessary to generate cash, the company feels it would receive only $80,000. The company continues to report the asset on the balance sheet at $100,000. Which of the following concepts justifies this?
a. The historical-cost principle.
b. The value is tied to objective and verifiable past transactions.
c. Neither of the above.
d. Both “a” and “b”.
Ans : d. Both “a” and “b”.
15. Retained earnings will change over time because of several factors. Which of the following factors would explain an increase in retained earnings?
a. Net loss.
b. Net income.
d. Investments by stockholders.
Ans : b. Net income.
16. Which of these items would be accounted for as an expense?
a. Repayment of a bank loan.
b. Dividends to stockholders.
c. The purchase of land.
d. Payment of the current period’s rent.
Ans : d. Payment of the current period’s rent.
17. Which of the following transactions would have no impact on stockholders’ equity?
a. Purchase of land from the proceeds of a bank loan.
b. Dividends to stockholders.
c. Net loss.
4. Investments of cash by stockholders.
Ans :a. Purchase of land from the proceeds of a bank loan.
18. Which of the following would not be included on a balance sheet?
a. Accounts receivable.
b. Accounts payable.
Ans :c. Sales.
19. remington Remington provided the following information about its balance sheet:Based on the information provided, how much are Remington’s liabilities?
a. rs 200.
b. rs 900.
c. rs 1,200.
d. rs 1,700.
Ans : rs 1200
20. Gerald had beginning total stockholders’ equity of rs.160,000. During the year, total assets increased by rs.240,000 and total liabilities increased by rs.120,000. Gerald’s net income was rs.180,000. No additional investments were made; however, dividends did occur during the year. How much were the dividends?
a. rs 20,000.
b. rs 60,000.
c. rs 140,000.
d. rs 220,000.
Ans : b. rs 60,000.
तपाईलाई हाम्रा लोकसेवा तयारी सम्बन्धि प्रश्तुति कस्तो लाग्दैछ कृपया सल्ला सुझाव दिनु होला । अन्य यस्तै सामाग्री हरुको लागि www.sarakarijagir.com मा जानु होला । साथै हामीलाई फेसबुकमा भेट्नको लागि https://www.facebook.com/preparationbank मा click गर्नु होला धन्यबाद ।