Financial Accounting MCQ

Financial Accounting MCQ | Freshers & Experienced

  • Sharad Jaiswal
  • 01st Jul, 2021

We have listed below the best Financial Accounting MCQ Questions for your basic knowledge of Financial Accounting. This Financial Accounting MCQ Test contains 25+ Financial Accounting Multiple Choice Questions. You have to select the right answer to every question to check your final preparation for Financial Accounting.

Practice Best Financial Accounting MCQ Questions

1) What is customer value?

  • A. Post purchase dissonance
  • B.Excess of satisfaction
  • C.Customer's perceived benefits
  • D.None of these

2) Which of the following has the highest cost of capital?

  • A. Loans
  • B.Equity shares
  • C.Preference shares
  • D.Bonds

3) Which is called as Dividend Ratio Method?

  • A. Asset
  • B.Equity Method
  • C.Debt Equity Method
  • D.Dividend Yield Method

4) Copyrights, Patents and Trademarks are ________

  • A. Investments
  • B.Fixed assets
  • C.Intangible assets
  • D.Current assets

5) Gross profit is

  • A. Opening stock
  • B.Sales over cost of goods sold
  • C.Cost of goods sold
  • D.expenses of the period

6) AICPA stand for ________ .

  • A. American Institute of Certified Public Assistant
  • B.American Institute of Certified Private Accountants
  • C.American Institute of Certified Public Accountants
  • D.None of these

7) What is equity ?

  • A. Liability of a business
  • B.Cash from the business
  • C.Owner claim on liabilities
  • D.Owner claim on assets

8) Business transaction is recorded _______ .

  • A. Today
  • B.Tomorrow
  • C.Week
  • D.Month

9) Discount allowed is _______

  • A. Loss
  • B.Income
  • C.Abnormal loss
  • D.Expense

10) Accounting equation is ________

  • A. Assets - Liabilities = Capital
  • B.Assets + Capital = Liabilities
  • C.Capital + Liabilities = Assets + Income
  • D.Cash + Other assets = Capital - Liabilities

11) Liabilities are :

  • A. Expenses
  • B.Obligations
  • C.Resources
  • D.Future benefits

12) Balance sheets are prepared

  • A. Daily
  • B.Weekly
  • C.Monthly
  • D.Annually

13) Current Ratio =

  • A. Debt/Equity
  • B.Current assets/Equity
  • C.Quick assets/Current liabilities
  • D.Current assets/Current liabilities

14) Royalty is an _________

  • A. Contract
  • B.Agreement
  • C.Mutual action
  • D.None of these

15) How many branches of accounting are :

  • A. THREE
  • B.FOUR
  • C.FIVE
  • D.SIX

16) Accounting is the Lnaguage of _______

  • A. Company
  • B.Business
  • C.Properitor
  • D.Owner

Leave A Comment :

Valid name is required.

Valid name is required.

Valid email id is required.