Today is 2nd July and today is the date of your test. You know all are the 10 objective type questions which have been taken from June's written content in Accounting Education. Some students who are in other professions want to learn accounting. To solve these type objective questions will give you power to go to the home of accounting. I have made the list of past 8 online accounting test, if you did not solve, try to solve them at here.
|Question 1. What is Consolidated Balance Sheet?|
(a) This the balance sheet of subsidiary company
(b) This is the balance sheet in which both holding company and subsidiary company's assets and liabilities are shown.
(c) This is the balance sheet of big corporates.
(d) This is the balance sheet of Govt. company.
|Question 2. What is Subprime Mortgage Crisis?|
(a) It is the crisis which happened due to decrease the prices of real estate. Large number of USA banks became insolvent.
(b) This is latest water bubble in India due to Euro Crisis.
(c) This is India share market crisis.
(d) It is the crisis which happened due to increase the prices of real estate. No one bought the property, all the sellers of real estate become beggars in USA.
|Question 3. What is deferred expenses?|
(a) Expenses not yet paid but services received.
(b) Expenses has been paid in advance but services have not be obtained.
(c) These expenses are paid for one year.
(d) These are the 2 years advance expenses for getting shop on rent.
|Question 4. What is the primary objective of financial accounting?|
(a) To hide accounting information from interested groups
(b) To make the hackers in accounting.
(c) To make the game of money.
(d) To maintain accounts and showing financial statement for providing help to different community which is interested in our business.
|Question 5. What are non-financial factors?|
(a) which affects accounting indirectly.
(b) These are the main part of entries.
(c) These are main formulas of accounting.
(d) These are important for getting fund on credit.
|Question 6. What is the marginal accounting|
(a) This accounting differentiate our total expenses into variable expenses and fixed expenses.
(b) This is the accounting which only records incomes.
|Question 7. What will be adjusting entry of outstanding expenses?|
(a) Outstanding Expenses account Dr
Expenses account Cr.
(b) Expenses account Dr.
Outstanding Expenses account Cr.
|Question 8. What is charity fund?|
(a) Which is collected for personal benefits .
(b) Which is collected for picnic.
(c) Which is collected for mission, public welfare, project like free education, free food, free home for needy, free treatment of poor patients etc.
(d) Which is collected for converting black money into white money.
|Question 9. What is merit rating?|
(a) It is the obtained marks in school exam.
(b) It is the record of strengths of employees.
(c) It is the way of record of weakness of employees.
(d) It is the evaluation of personal abilities.
|Question 10. What is replacement cost?|
(a) Replacement cost means the cost of any asset if we buy same at current price from market.
(b) Replacement cost is the repair cost when we sell it in the market.
(c) Replacement cost means extra money which we received for giving the guarantee of returned the asset.
(d) Replacement cost is the reserve for getting new asset in future for replacing old asset.
Please see the correct answer at here.
Related : Accounting Test Online - Part 8