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Theory Base Of Accounting (MCQs)
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Avg score: 34% • Most missed: “Which one of the following is NOT the qualitative characteristic of accounting?”
Theory Base Of Accounting (MCQs)
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21 Questions

1. Identified and measured economic events should be recorded in _________ order.
2. Out of the following transaction which of the following will not be recorded in books of account:
3. IFRS are:
4. Which one of the following statement is correct?
5. Reliability of accounting information depends upon:
6. IFRS (International Financial reporting standards) are based on:
7. Which of the following advantages of accounting states that accounting helps in decision making and facilitates control?
8. Which one of the following is NOT the qualitative characteristic of accounting?
9. Which of the following statements is correct:
10. The Trading and Profit and Loss Account is prepared under which attribute of accounting:
11. Which of the following categories of information is NOT provided by Financial Accounting?
12. IAS adopted by IASB and still in force are:
13. The term purchase is used only for the purchase of______and is never used for the purchase of______
14. IASB (International Accounting Standards Board) upon coming into existence has adopted:
15. Which of the following user needs accounting information to ensure the safety and recovery of the loan advanced?
16. The last step in the process of accounting is:
17. A liability arises because of:
18. Out of the following transaction which of the following will not be recorded in books of account:
19. The term purchase is used only for the purchase of______and is never used for the purchase of______
20. Identified and measured economic events should be recorded in _________ order.
21. Which of the following is the NOT sub field of accounting?

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