This is free online test of accounting. In this free online test of accounting, we will ask 10 objective type accounting questions. You have to choose one of correct answer out of four options. For writing this, we are taking our written accounting topics of month of Oct. 2010. You can read also reference, if you do not understand the problem. You can also check the your score by comparing your given answer from our correct answers. Best of luck for giving this free online test of accounting. If you are interested to give online test of all the parts freely, you can give at here.
|Question 1. What is Contract Costing?|
(a) is that part of costing which is used to identify the expenses relating to a contract.
(b) is that part of costing which is used to create standard cost of contract.
(c) is that part of costing which is used for calculating variance in contract cost
(d) is that part of costing which is used for making contract budget
|Question 2. How to Compute Selling Price?|
(a) Selling Price = Gross Profit X 100 / Cost
(b) Selling Price = Cost X 100/ 100 - Gross Profit
(c) Selling Price = Cost X 100 / Gross Profit
(d) Selling Price = 100 - Gross Profit/ Cost
|Question 3. Who is Interpol?|
(a) International Cheaters
(b) International Smoothie
(c) International Police Organization
(d) International Thieves' Group
|Question 4. What are manufacturing Overheads?|
(a) Variable expenses which are used for manufacturing process
(b) fixed expenses which are used for manufacturing process
(c) All direct expenses which are used for manufacturing process
(d) All indirect expenses which are used for manufacturing process
|Question 5. What is Meaning of Cash Discount?|
(a) If customer pays on the time, the amount which has not been taken by us from our customer.
(b) Discount on list price of product.
(c) Discount for buying large number of goods.
(d) Discount for helping customer if he is not capable to pay all the amount of his debt.
|Question 6. Is Sensitivity Analysis topic of CS Accounting?|
|Question 7. Is a Stock Ledger same as a Bin Card?|
|Question 8. What is Stock Manipulation?|
(a) Grading of Inventory
(b) to mix the inventory
(c) To make from stock market by cheating
(d) Technique of Inventory management
|Question 9. What is Capitalize Accounting?|
(a) To show any capital expenses as revenue expenditure and add in expenses side of profit and loss account
(b) To show any expenses as capital expenditure and add in asset side of balance sheet
(c) To capitalize all the expenses of company whether these are revenue or capital.
(d) To reducing external liabilities for increasing capital
|Question 10. What is Sale Ratio?|
(a) Pre- incorporation and Post - incorporation's sales proportion
(b) Sales/ total investment
(c) Total sales / 12 X 100
(d) branch sales / total sales X 100
Answers : 1 (a) 2 (b) 3 (c) 4 (d) 5 (a) 6 (a) 7 (b) 8 (c) 9 (b) 10 (a)