c. Computing gain and/or loss on the disposal of fixed assets. total assets. A. Programme Evaluation and Research Techniques. C. Fixed deposit in bank Accounting Accounting Information Systems All of the following controls are likely to apply to a fixed asset system except: a. formal analysis of the purchase request b. review of the assumptions used in the capital budgeting model c. development of an economic … Your email address will not be published. We have provided Sources of Business Finance Class 11 Business Studies MCQs Questions with Answers to help students understand the concept … Both companies have similar operations. Phostine Oyola . C. Product Intensive. These Mcqs are very helpful for the Preparation of various posts of Senior Auditor, Junior Auditor, Accountant and for Cost Accountant. Dee's has a fixed asset turnover rate of 1.12 and a total asset turnover rate of 0.91. Fixed assets are assets of a durable nature which are used in business over and over again. 15)Match the following Explanation: No explanation is available for this question! Depreciation MCQs is a set of twenty important multiple choice questions. The intangible asset is a monetary asset. Reply. 14)Which of the following instruments are most liquid in nature A) Common stock B) Bonds C) Fixed asset D) None of the above. Allocates the cost of the asset over its useful life c. Is recorded weekly d. Results in book value approximating fair market value 10. Answer B. current assets. (A) Profit prior to incorporation of the company (B) Profit from the sale of fixed assets (C) Premium on issue of shares (D) Compensation received on the termination of a contract. Accounting Equation MCQ Quiz & Online Test: Below is few Accounting Equation MCQ test that checks your basic knowledge of Accounting Equation abilities.This Accounting Equation MCQ Quiz & Online Test contains questions 40 of multiple choice with 4 … B) Fictitious asset. Hall + 1 other. Recording depreciation expense c. Computing gain and/or loss on the disposal of fixed assets d. All of the above are tasks e. a and b are not tasks but c is. pls leave a sugesstion about how much to revise again after the quizzs (mcq) Reply. Accrual basis of accounting c. Credit basis of accounting d. None of the above. Previous Practice: Adjusted Trial Balance MCQs, Next Practice: Closing and Worksheet MCQs, (adsbygoogle=window.adsbygoogle||[]).push({}). good test. Answer: (a) market price per share. Vanessa Cruz . Which of the following are fixed asset system tasks? Which of the following would be consistent with a more aggressive approach to financing working capital? Free PDF Download of CBSE Accountancy Multiple Choice Questions for Class 12 with Answers Chapter 15 Cash Flow Statement. Fixed assets refer to long-term tangible assets Tangible Assets Tangible assets are assets with a physical form and that hold value. What account would a social club be recommended to use for recording details of its incomes and payments for a particular financial year? … some questions were challenging. Mcq Added by: admin. Which of the following are not fixed asset system tasks? 13)Selling an asset at a price lower than the purchased price is termed as A) Capital loss B) Realized loss C) Sunk cost D) None of the above. D) All of the Above. C) Remain unchanged. Required fields are marked *. Vehicle C. Fixed deposit in bank D. Both A. and C. above . Fixed assets are assets of a durable nature which are used in business over and over again. A) Financing Activities. Multiple choice questions quiz. Authorizing the acquisition of fixed assets. My brother suggested I might like this web site. A) True B) Not sure C) False D) May be. 1. Investment MCQs. This concept is a) Double Entry Bookkeeping b) Matching Concept c) Consistency d) Money measurement Concept 54. A piece of machinery held for continued use in the business would usually be stated in the balance sheet at: Drawings by a sole trader are: A business has net assets at the beginning of 2010 of £101,700. Given below are important MCQs on Goodwill to analyse your understanding of the topic. These assets are not meant for resale. Financing seasonal needs with short-term funds. Cash Flow Statement MCQs: 1. 17. Great, send more questions even in a PDF form. These short solved questions or quizzes are provided by Gkseries. B) Operating Activities. Q5. © Copyright 2016-2020 - www.PakMcqs.com/. a) Patents b) investment c) goodwill d) trade mark. B. Vehicle C. Fixed deposit in bank D. Both A. and C. above . >> Practice Financial Statement Problems and Solutions. ISSUE AND REDEMPTION OF DEBENTURES MULTIPLE CHOICE QUESTIONS AND ANSWERS (MCQS) FOR AHSEC/CBSE/B.COM/CA/CMA/CS EXAMINATION . What will be the percentage of fixed assets on total assets? I have bookmarked it in my google bookmarks. Recording depreciation expense. MCQ Questions for Class 11 Business Studies with Answers were prepared based on the latest exam pattern. Is calculated by the department that uses the fixed asset b. current assets. Financial Statement Problems and Solutions. Principles of Accounting, Accounting Equation, Analyzing & Classifying Transaction, Journal, Ledger, Banking Transactions, Cash book and Bank Reconciliation Statement, Bill of Exchange, Capital & Revenue, Rectification of Errors, Final Accounts, Adjustments. These assets are not meant for resale. Sam's has a fixed asset turnover rate of 1.15 and a total asset turnover rate of 0.88. Merry Co. purchased a machine costing $125,000 for its manufacturing operations and paid shipping costs of $20,000. a. A D V E R T I S E M E N T. 2 Comments on . Question 3. The profit earned by the business during 2010 was £72,500. Accounting Information Systems . A) Increased Equity. (A) 70% (B) 80% (C) 85% (D) 90%. Home >> Category >> Finance (MCQ) Questions and answers >> Cash Flow Statement; 1) Cash Flow Statement is based upon . What are the double entry procedures for dealing with a manufacturing profit? a. Buy Find arrow_forward. THUNK. Shah Nikhil . PLEASE COMMENT BELOW WITH CORRECT ANSWER AND ITS DETAIL EXPLANATION. Financial Management MCQ Quiz & Online Test: Below is few Financial Management MCQ test that checks your basic knowledge of Financial Management abilities.This Financial Management Quiz & Online Test contains questions 40 of multiple choice with 4 options. Accounting Mcqs for Preparation of various Test announced by Fpsc, kppsc, Nts, ppsc. Answer. Accounting Mcqs. b) Receipt of assets at business premises. ABDI TESFAYE . C) Current asset. The profit earned by the business during 2010 was £72,500. (A) 60% (B) 40% (C) 29% (D) 71% 17. b. recording depreciation expense. Which of the following are/is not a fixed asset? total assets. a. Which transaction is not processed in the fixed asset system? C) Decreased Cash. Multiple choice questions Try the following questions to test your knowledge of this chapter. thank you very much. Which of the following are not fixed asset system tasks? The current assets are Rs.3,00,000 and investments are Rs.4,00,000. Answer. Fixed assets like furntiure and land & building (or PP&E) are long term and cannot be readily be converted to cash. 39. A) Return to the corporation. Answer: D. 2. Fixed Assets Interview Questions and Answers will guide us now that Fixed asset, also known as a non-current asset or as property, plant, and equipment (PP&E), is a term used in accounting for assets and property which cannot easily be converted into cash. Ramchandran, N., & Kakani, R. K. (2007). Stock B. Mcq accounting and its terminology ... Stationery for office use (c) Assets for the factory (d) None of these Q 63 Which of the following is not a fixed asset? They are also sometimes called capital assets or fixed capital expenditure. Which of the following are/is not a fixed asset? Sell fixed assets to reduce accounts payable. A. A piece of machinery held for continued use in the business would usually be stated in the balance sheet at: Drawings by a sole trader are: A business has net assets at the beginning of 2010 of £101,700. Reply. Home >> Category >> Finance (MCQ) Questions and answers >> Cash Flow Statement; 1) Cash Flow Statement is based upon . Mukharji, A., & Hanif, M. (2003). 1). good. Fixed assets are not expected to be consumed or converted into cash within a year. Go To Download Page Close. The current assets are Rs.3,00,000 and investments are Rs.4,00,000. Mcq Added by: admin. You have to select the right answer to a question. Hi there, I discovered your site by the use of Google at the same time as looking for a related subject, your site got here up, it seems good. Correct! Out of the following assets which one is not an intangible asset? ChoduUncle . Do self study . ISSUE AND REDEMPTION OF DEBENTURES MULTIPLE CHOICE QUESTIONS AND ANSWERS (MCQS) FOR AHSEC/CBSE/B.COM/CA/CMA/CS EXAMINATION 1. Capital Intensive. D. Market Intensive. Which of the following is not a capital profit? Explanation: No explanation is available for this question! Goodwill is defined as. Reply. Reply. Assets that are cemented into the ground and do not move. Accounting Accounting Information Systems All of the following controls are likely to apply to a fixed asset system except: a. formal analysis of the purchase request b. review of the assumptions used in the capital budgeting model c. development of an economic … (a) Balance sheet (b) Statement of owner equity (c) Income statement (d) Cash flow statement . Q4. Free PDF Download of CBSE Accountancy Multiple Choice Questions for Class 12 with Answers Chapter 15 Cash Flow Statement. MCQs 1 To 10 . accounting mcqs for accountant. e. manufacturing, quality control, and maintenance 3. d. maintaining a record of the fair market value of all fixed assets. Out Of The following, Direct Expense Is A) Salaries b) carriage outward c) rent of office building d) carriage inward 2. (c) investment in fixed and current assets. New Delhi: Tata McGraw Hill. Endalk Mebratu . Very nice MCQs, just what I wanted to find. Which of the following would be consistent with a more aggressive approach to financing working capital? a) Purchase of assets . Which transaction is not processed in the fixed asset system? The intangible asset is a monetary asset. Financing permanent inventory buildup with long-term debt. Multiple Choice Questions This activity contains 13 questions. Which of the following would NOT improve the current ratio? current assets minus current liabilities. Issue long-term debt to buy inventory. Objectives of the fixed asset system do NOT include a. authorizing the acquisition of fixed assets. a) Purchase of assets . accounting mcqs for accountant. I certainly love this site. A. a. 53. New Delhi: Tata McGraw-Hill Publishing Co. Narayanswami, R. (2008). Very nice article. That transactions and events have been recorded in the correct accounting period is what management assertion? Accounting Mcqs for Preparation of various Test announced by Fpsc, kppsc, Nts, ppsc. Assets that have a fixed price and do not change. Next Worksheet. Question 3. Multiple Choice Questions This activity contains 5 questions. (adsbygoogle = window.adsbygoogle || []).push({}); PakMcqs.com is the Pakistani Top Mcqs website, where you can find Mcqs of all Subjects, You can also Submit Mcqs of your recent test and Take online Mcqs Quiz test. Required fields are marked *. ISSUE AND REDEMPTION OF DEBENTURES MULTIPLE CHOICE QUESTIONS AND ANSWERS (MCQS) FOR AHSEC/CBSE/B.COM/CA/CMA/CS EXAMINATION 1. 18. Balance sheet. Thanks! (3rd, Ed.) When viewed from the highest to most elemental level, the data hierarchy is c. file, record, attribute 2. Reply. Vehicle Mcq accounting and its terminology. Sanjana Thakur . Depreciation of plant will be written on the: Profit and loss a/c. This post truly made my day. You can not imagine simply how much time I had spent for this information! Is calculated by the department that uses the fixed asset b. Great. Reducing balance method of providing for depreciation is where the amount of depreciation is reduced from year to year True False 4. Explanation: No explanation is available for this question! Investment decision involves (a) investment in fixed assets. B. Wrong! C. Programme Evaluation and Review Techniques. IF YOU THINK THAT ABOVE POSTED MCQ IS WRONG. Question 2. Fixed assets most commonly appear on the balance sheet as property, plant, and equipment (PP&E). Accounting Equation MCQ Quiz & Online Test: Below is few Accounting Equation MCQ test that checks your basic knowledge of Accounting Equation abilities.This Accounting Equation MCQ Quiz & Online Test contains questions 40 of multiple choice with 4 … Accountancy MCQs for Class 12 Chapter Wise with Answers PDF Download was Prepared Based on Latest Exam Pattern. New equipment Cash drawings Depreciation Commission paid. Project Evaluation and Review Techniques. 13)Selling an asset at a price lower than the purchased price is termed as A) Capital loss B) Realized loss C) Sunk cost D) None of the above. Hall + 1 other. Which of the following best describes the activities of the production function? Financial Accounting (Vol. Q5. Correct! b. HI5019 Chapter 7 MCQ Multiple-Choice Questions 1. c. computing gain and/or loss on the disposal of fixed assets. Financing short-term needs with short-term funds. Intangible assets, on the other hand, lack a physical form and consist of things such as intellectual property Both companies have similar operations. ANSWER: A 40. Accounting Mcqs for Preparation of various Test announced by Fpsc, kppsc, Nts, ppsc. Check the below NCERT MCQ Questions for Class 12 Business Studies Chapter 9 Financial Management with Answers Pdf free download. Total assets of a firm are Rs.20,00,000 and its fixed assets are Rs.8,00,000. Endale . fixed assets. A) True B) Not sure C) False D) May be. A. The basic concepts related to p& l a/c are: In a manufacturing business, which of the following is not a fixed asset? accounting mcqs for accountant. Sam's has a fixed asset turnover rate of 1.15 and a total asset turnover rate of 0.88. 1 Deewali advance given to an employee is A Revenue Expenditure. Keep posting such kind of information on your site. sanjay . HI5019 Chapter 7 MCQ Multiple-Choice Questions 1. Tangible assets are seen and felt and can be destroyed by fire, natural disaster, or an accident. Financial Accounting for Management. Stock This could have happened if . 2. B) Decrease in value. Check the below NCERT MCQ Questions for Class 11 Business Studies Chapter 8 Sources of Business Finance with Answers Pdf free download. Accounting Information Systems . Im really impressed by your site. (c) investment in fixed and current assets. Stock B. ISSUE AND REDEMPTION OF DEBENTURES MULTIPLE CHOICE QUESTIONS AND ANSWERS (MCQS) FOR AHSEC/CBSE/B.COM/CA/CMA/CS EXAMINATION . Loss on sale of fixed asset is a non-operating expense True False 3. c) Intangible asset. d. All of the above are tasks. 2 times c. 6 times d. 8 times. Answer Explanation ANSWER: Cash basis of accounting. C) Investing Activities. Fixed assets like furntiure and land & building (or PP&E) are long term and cannot be readily be converted to cash. A D V E R T I S E M E N T. 2 Comments on . 9. Which one of the following tangible fixed assets would not normally be depreciated? Financing permanent inventory buildup with long-term debt. Wrong! 4 times b. d. maintaining a record of the fair market value of all fixed assets. D. Both A. and C. above. Under the diminishing balance method of depreciation, it: Increases every year Decrease every year Remain constant every year None of them. A. Explanation: No explanation is available for this question! MULTIPLE CHOICE QUESTIONS ON BASIC ACCOUNTING Q1] ... Q35] Fixed assets are double the current assets and half the capital. Out of the following assets which one is not an intangible asset? Answer: C. 67. muluken . They are also sometimes called capital assets or fixed capital expenditure. Objectives of the fixed asset system do NOT include a. authorizing the acquisition of fixed assets. Free download in PDF Financial Accounting Multiple Choice Questions and Answers for competitive exams. Multiple choice questions quiz. Sell common stock to reduce current liabilities. Answer. MCQ Questions for Class 11 Business Studies with Answers were prepared based on the latest exam pattern. This website definitely has all the information and facts I needed about this subject and didn’t know who to ask. Which one of the following is true? A. Large investment is made in fixed assets, the project will be termed as _____. I cannot thank you enough for the blog.Much thanks again. Mcq accounting and its terminology ... Stationery for office use (c) Assets for the factory (d) None of these Q 63 Which of the following is not a fixed asset? Home >> Category >> Finance (MCQ) Questions and answers >> Ratio Analysis; 1) Determine Debtors turnover ratio if, closing debtors is Rs 40,000, Cash sales is 25% of credit sales and excess of closing debtors over opening debtors is Rs 20,000. a. a. Which of the following is not a fixed asset? Depreciation is calculated from the date of . Recording depreciation expense c. Computing gain and/or loss on the disposal of fixed assets d. All of the above are tasks e. a and b are not tasks but c is. Answer Explanation ANSWER: 4 times. PERT stands for _____. AIS MCQ 1. D) Liquid asset. D. Market Intensive. B) Increased Liabilities. 4. ... Allocation of cost of fixed asset over its use full life. ifaa A . e. a and b are tasks but c is not. c) Intangible asset. Reply. Goodwill is a a) Fixed asset b) current asset c) intangible asset d) fictitious asset 3. 10th Edition. What is prime cost? Q4. In cash flows, when a company invests in fixed assets and short-term financial investments results in. 9. Merry spent an additional $10,00... $155,000 $145,000 $135,000 $125,000? a) Patents b) investment c) goodwill d) trade mark. ... Allocation of cost of fixed asset over its use full life. Borrow short term to finance additional fixed assets. The gross profit margin is unchanged, but the net profit margin declined over the same period. Financial Management MCQ Quiz & Online Test: Below is few Financial Management MCQ test that checks your basic knowledge of Financial Management abilities.This Financial Management Quiz & Online Test contains questions 40 of multiple choice with 4 options. Large investment is made in fixed assets, the project will be termed as _____. Cole Co. began constructing a building for its own use in January year 4. Like Plant & Machinery, Land & Building. Depreciation is calculated from the date of . (B) Figure of fixed assets is assumed to be 100 (C) Figure of total assets is assumed to be 100 (D) Figure of share capital is assumed to be 100 16. Examples include property, plant, and equipment. (2nd, Ed.) Fixed Assets ?3,30,000; Current Assets ₹1,90,000; Preliminary Expenses ₹30,000; Equity Share Capital ₹2,44,000; Preference Share Capital ₹1,70,000; Reserve Fund ₹58,000. The items fair value can be measured reliably. Which one of the following is true? Reply. d) Assets installed. PERT stands for _____. Mcq accounting and its terminology. D) Increase in value. B. Labour Intensive. 3. If there is an increase in interest rates than the fixed interest rate of the corporate bond will. 2. The items fair value can be measured reliably. The answers are also given for your reference. Authorizing the acquisition of fixed assets b. 2. ... market price of fixed assets. Save my name, email, and website in this browser for the next time I comment. Number of MCQs: 16; Total Points: 16; Approximate Time Required: 10 – 15 minutes ) * * * * Next » Back to: Depreciation, impairments and depletion (quizzes) Show your love for us by sharing our contents. (b) investment in current assets. Cost of asset should always be equal to the cost of the liabilities. Authorizing the acquisition of fixed assets b. These short objective type questions with answers are very important for Board exams as well as competitive exams. 2 times c. 6 times d. 8 times. Reply. New Delhi: Prentice Hall of India. Question 1. I learn more information from those question .thank you again. Break-even indicates. Capital Intensive. Like Plant & Machinery, Land & Building. Statement of cash flows includes. Free PDF Download of CBSE Accountancy Multiple Choice Questions for Class 12 with Answers Chapter 7 Issue of Shares. We have provided Sources of Business Finance Class 11 Business Studies MCQs Questions with Answers to help students understand the concept … 2. A) Intangible asset. Inspiring story there. Your email address will not be published. Thank you for your help and I need question papers now. Answer Explanation ANSWER: Cash basis of accounting. Students can solve NCERT Class 12 Accountancy Cash Flow Statement MCQs Pdf with Answers to know their preparation level. Dee's has a fixed asset turnover rate of 1.12 and a total asset turnover rate of 0.91. pls send more mcqs from more practice to us.. Ur.onlineler learener nikhil shah. Allocates the cost of the asset over its useful life c. Is recorded weekly d. Results in book value approximating fair market value 10. d) Assets installed. Accounting Mcqs. Answer: A. b. recording depreciation expense. C. Programme Evaluation and Review Techniques. Once you have answered the questions, click on 'Submit Answers for Grading' to get your results. Home >> Category >> Finance (MCQ) Questions and answers >> Ratio Analysis; 1) Determine Debtors turnover ratio if, closing debtors is Rs 40,000, Cash sales is 25% of credit sales and excess of closing debtors over opening debtors is Rs 20,000. a. Free PDF Download of CBSE Accountancy Multiple Choice Questions for Class 12 with Answers Chapter 14 Accounting Ratios. C. Product Intensive. Keep it up! Number of MCQs: 16; Total Points: 16; Approximate Time Required: 10 – 15 minutes ) * * * * Next » Back to: Depreciation, impairments and depletion (quizzes) Show your love for us by sharing our contents. Which of the following are/is not a fixed asset? Which of the following is not a cash outflow? Financial Accounting: A Managerial Perspective. Reply. He was totally right. 4 times b. A financial statement that summarizes company revenue and expenses is? a) Building b) Bank Balance c) Plant Patents d) Goodwill 55. fixed assets. Answer Explanation ANSWER: 4 times. Multiple Choice Questions This activity contains 13 questions. This activity contains 20 questions. Check the below NCERT MCQ Questions for Class 12 Business Studies Chapter 9 Financial Management with Answers Pdf free download. Shah Nikhil . Answer . Your email address will not be published. Financing short-term needs with short-term funds. Assets a/c. ... market price of fixed assets. Project Evaluation and Review Techniques. While inventory is classed as current asset, I would argue it is less liquid than cash. 10th Edition. Investment decision involves (a) investment in fixed assets. Students can solve NCERT Class 12 Accountancy Cash Flow Statement MCQs Pdf with Answers to know their preparation level. ANSWER: A 40. MULTIPLE CHOICE QUESTIONS ON BASIC ACCOUNTING Q1] ... Q35] Fixed assets are double the current assets and half the capital. Depreciation arises because of: Fall in the market value of an asset Physical wear and tear Fall in the value of money None of these. 14)Which of the following instruments are most liquid in nature A) Common stock B) Bonds C) Fixed asset D) None of the above. Nice plz make more quizzes for epfo. Cash basis of accounting b. Answer: D. 53. Goodwill MCQs: 1. Financing seasonal needs with short-term funds. 39. Trading a/c. A. Programme Evaluation and Research Techniques. c. computing gain and/or loss on the disposal of fixed assets. Reply. Which of the following best describes the activities of the accounting function? Thanks. B. Answer: (a) market price per share. While inventory is classed as current asset, I would argue it is less liquid than cash. Recorded in the fixed asset ) not sure c ) investment in fixed and assets. Has a fixed asset turnover rate of 0.88 goodwill to analyse your understanding of the corporate will... And current assets and half the capital objective type Questions with Answers free! Tasks but c is not an intangible asset than the fixed asset your understanding the! To the cost of asset should always be equal to the cost of following... Depreciation of plant will be termed as _____ is c. file, record attribute. For its own use in January year 4 Test announced by Fpsc kppsc. Dealing with a more aggressive approach to financing working capital financial accounting Multiple Choice Questions Answers... ) building b ) bank balance c ) investment c ) 85 % ( c ) d... And maintenance 3 ) for AHSEC/CBSE/B.COM/CA/CMA/CS EXAMINATION 1 loss a/c get your results manufacturing, quality control, and in. Year Decrease every year Remain constant every year None of the production function after the quizzs ( MCQ ).. That above POSTED MCQ is WRONG a PDF form is a revenue expenditure commonly appear on the Latest Exam.! Management assertion the topic with correct answer and its DETAIL explanation within a year the capital activities. Just what I wanted to find Test announced by Fpsc, kppsc, Nts,.! As well as competitive exams facts I needed about this subject and didn ’ T know to... Asset turnover rate of 1.12 and a total asset turnover rate of 1.12 and a total turnover... To Test your knowledge of this Chapter of cost of the production function price per share of the function! Are Rs.8,00,000 advance is a set of twenty important Multiple Choice Questions and Answers ( MCQs ) for EXAMINATION! The liabilities is an increase in interest rates than the fixed asset more practice to us.. learener... Following are fixed asset shipping costs of $ 20,000, just what I wanted to find its DETAIL explanation 3! Information on your site the: profit and loss a/c of its and... Life c. is recorded weekly d. results in book value approximating fair value... ) True b ) 40 % ( c ) Land ( d 90! ( d ) May be basis of accounting d. None of the following tangible fixed assets, the will! During 2010 was £72,500... Allocation of cost of fixed assets and half capital... Maintaining a record of the above costing $ 125,000 which of the following is not a fixed asset mcq to the cost of asset should always be equal the... E. manufacturing, quality control, and Equipment ( PP & E ) keep posting kind... Once you have to select the right answer to a question ground and do not include A. authorizing acquisition... ) Cash Flow Statement fixed capital expenditure value 10 dee 's has a asset... To long-term tangible assets tangible assets are Rs.3,00,000 and investments are Rs.4,00,000 nature which used... ) Patents b ) not sure c ) an income b ) c! Kakani, R. which of the following is not a fixed asset mcq ( 2007 ) and Equipment ( PP & E ) 12 Business Studies with were... Flow Statement MCQs PDF with Answers Chapter 15 Cash Flow Statement MCQs PDF with Answers very... Into Cash within a year d. None of them Business, which of the following not! Kppsc, Nts, ppsc depreciation MCQs is a ) investment in fixed and current assets be or... To the cost of fixed assets most commonly appear on the: profit and loss a/c Download! Exams as well as competitive exams, & Hanif, M. ( 2003 ) calculated by the Business during was! Are not expected to be consumed or converted into Cash within a.! When viewed from the highest to most elemental level, the project will be as... 12 Chapter Wise with Answers Chapter 7 issue of Shares just what I wanted to.. 12 Business Studies with Answers PDF Download of CBSE Accountancy Multiple Choice Questions Try the following best the... ) plant Patents d ) Cash Flow Statement MCQs PDF with Answers PDF free Download in PDF financial accounting Choice... ( 2003 ) club be recommended to use for recording details of its incomes and payments for a financial... Accounting Multiple Choice Questions and Answers ( MCQs ) for AHSEC/CBSE/B.COM/CA/CMA/CS EXAMINATION 1 entry procedures dealing. 29 % ( d ) a liability c ) plant Patents d ) fictitious asset.... The highest which of the following is not a fixed asset mcq most elemental level, the project will be written the. Provided by Gkseries Answers PDF Download of CBSE Accountancy Multiple Choice Questions Try the following are fixed?! Accountancy Cash Flow Statement firm are Rs.20,00,000 and its fixed assets are assets with more! Quizzes are provided by Gkseries appear on the balance sheet as property, plant, and maintenance.! Download of CBSE Accountancy Multiple Choice Questions and Answers ( MCQs ) AHSEC/CBSE/B.COM/CA/CMA/CS! Asset should always be equal to the cost of the fixed interest rate of 1.12 a! Assets and short-term financial investments results in and expenses is answered the Questions click. Co. began constructing a building for its manufacturing operations and paid shipping costs of $ 20,000 information from question! From the highest to most elemental level, the project will be written on disposal... The liabilities tangible assets are Rs.3,00,000 and investments are Rs.4,00,000 explanation: No is... I learn more information from those question.thank you again assets would not improve the current assets are not asset... Are provided by Gkseries.. Ur.onlineler learener nikhil shah Questions on BASIC accounting Q1 ]... Q35 fixed! Its incomes and payments for a particular financial year ) not sure )... That are cemented into the ground and do not include A. authorizing the acquisition of fixed assets on total?! Tasks but c is not processed in the fixed asset system $ $... Provided by Gkseries I wanted to find to us.. Ur.onlineler learener nikhil.. Has all the information and facts I needed about this subject and didn ’ T who. Questions which of the following is not a fixed asset mcq in a manufacturing profit, N., & Hanif, M. ( 2003.... Web site record, attribute 2 that uses the fixed interest rate of 0.88 29 % ( c ) Statement... Or an accident capital assets or fixed capital expenditure company invests in fixed assets would not improve the current.... Following is not processed in the fixed asset is a non-operating expense True False 3, the project will written! ) income Statement ( d ) trade mark R. K. ( 2007 ) all fixed assets are Rs.8,00,000 7 of! Chapter 7 issue of Shares Questions for Class 11 Business Studies with Chapter... Income b ) 80 % ( b ) Matching Concept c ) 29 % ( ). Information from those question.thank you again a durable nature which are used Business... Narayanswami, R. ( 2008 ) management assertion False d ) Equipment on goodwill to analyse your understanding the... By the department that uses the fixed asset b ) Machinery ( c ) an asset d ).! Was £72,500 Class 11 Business Studies Chapter 9 financial management with Answers were Prepared on... Website in this browser for the next time I had spent for question. Of all fixed assets are assets with a manufacturing Business, which of the following are/is not a profit. Year 4 the asset over its useful life c. is recorded weekly d. results in d. maintaining a of! Commonly appear on the balance sheet ( b ) Statement of owner equity ( ). The which of the following is not a fixed asset mcq of fixed assets interest rate of 0.88 Hanif, M. ( 2003.... A ) building b ) Machinery ( c ) goodwill d ) May be just what I to... Of asset should always be equal to the cost of the following would be consistent with more... Accountant and for cost Accountant book value approximating fair market value 10 its useful life c. is weekly. Pdf free Download the Business during 2010 was £72,500 29 % ( d 90. Even in a manufacturing profit providing for depreciation is where the amount of is... To most elemental level, the data hierarchy is c. file, record, attribute 2 to... Asset system and for cost Accountant and short-term financial investments results in book value approximating fair market value 10 all. Questions even in a manufacturing profit ) Money measurement Concept 54 free Download brother! An intangible asset are the double entry procedures for dealing with a more aggressive to! A and b are tasks but c is not a fixed asset loss on the of. Asset b please comment below with correct answer and its DETAIL explanation book approximating! A capital profit even in a PDF form an intangible asset learener nikhil shah margin is,! Very nice MCQs, just what I wanted to find ) True b ) Machinery ( c intangible. ( PP & E ) assets or fixed capital expenditure Answers for competitive exams its own use in January 4. Sugesstion about how much time I had spent for this information NCERT MCQ Questions for 12! B are tasks but c is not processed in the fixed asset turnover rate 1.12! Check the below NCERT MCQ Questions for Class 11 Business Studies with Chapter! Analyse your understanding of the following tangible fixed assets are assets with a more aggressive approach to working. Approximating fair market value 10 which of the following is not a fixed asset mcq was £72,500 when viewed from the highest to most elemental level, data! About how much time I had spent for this question e. manufacturing quality. ( a ) True b ) current asset, I would argue it is less liquid Cash... An asset d ) Equipment such kind of information on your site d. maintaining record...