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Accounting Objective Questions

>> April 30, 2011

I hope that many of you,  read accounting education's email updates daily. Today is 30th April 2011 end of this month. I am writing a simple accounting objective questions out of my written accounting contents during April 2011. Choose the correct answers  all these accounting objective questions honestly out of given options and check whether your accounting knowledge has been increased by accounting education or not.

(a) Which are done by customers of banks.

(b)  Wrong report of ATM server error to bank

(c)  A simple mistake of your bank account

 2. Bank Statement  is

(a)  the bank column of your cash book

(b)  the movement of bank accounts over a period

(c)  statement in which bank requests your personal detail.

 3.  Balance Per Bank which is shown

(a) by your ledger's bank account

(b) the net by deduct your all expenses from your income through cheques.

(c) which is shown by your bank statement.

 4. Bank Charges

(a) include charges which are taken by banks from customers.

(b) include charges which are taken by central bank from commercial banks.

(c) include charges for taking  property on lease.

 5.  Application of Marginal Costing  in

(a) Managerial Decision Relating to Determination of Optimum Selling Price.
(b) Managerial decision relating to investment in new project.

(c) Managerial decision relating to linking sub-project cost with main project cost.

 6. Importance of Financial Inclusion

(a) It is useful for giving loan to rich customers of banks.

(b) It is useful for reaching every customer of rural sector.

 7. Advantages of Job Costing

(a) Easy to calculate cost of outflow from your per month salary.

(b) Easy to calculate the cost for finding a good  job in company.
(c) Easy to calculate overheads for specific job.

 8. Reason of Losses 

(a)  Lack of knowledge of inventory management.

(b) In night, you go to your godwon and set all stock on fire.

(c) A Ghost takes all your profit.

 9. How to  reduce the risk of  Death Spiral in Accounting ?

(a) By increasing price

(b) By decreasing price

(c) By using of activity based costing

 10. Why should You Use Financial Statement?

(a) Because it is useful for decisions of company.

(b) Because it is useful to case to be filed  against the CA of company.

(c) Because it is useful to reduce the loan.

Please check your answer with correct answers list at here.

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