Accounting & Finance e-Quiz: 2020
Question : 1. Choose the name of the
Father of Accounting Education who was a Franciscan friar born in Borgo San
Sepolcro is now Northern Italy from the following options
Answer : a) Luca Pacioli
Question : 2. Choose the correct
option from the following regarding Double Entry System Accounting
Answer : d) All are correct options
Question : 3. Accounting concept
refers to the basic assumptions and rules and principles which work as the
basis of recording business transactions and preparing accounts. Which one option
from the following does not belong to Accounting Concepts.
Answer : d) Consistency
Question : 4. A Journal Entry is a
record of the business transactions in the accounting books of business. Choose
which one is not a type of journal entry from the following
Answer : d) Duplicate entry
Question : 5. Choose the correct
options/options from the following for the major ways to create a ledger in
Tally
Answer : d) All are correct options
Question : 6. Why a firm prepare the
trial balance after prepare close all ledgers
Answer : a) To know the arithmetic
accuracy of all transaction of the firm
Question : 7. Which of the following
is not an example of Intangible Asset
Answer : d) Land and building
Question : 8. The asset that can be
converted into cash within a short period (One year or less than one year) is
known as
Answer : c) Current Asset
Question : 9. Real Account records
the transaction of the firm
Answer : b) Dealing with commodities
Question : 10. The standard format of
the journal does not include which of the following
Answer : a) Asset column
Question : 11. What are the expenses
paid out of Gross Profit
Answer : d) All of the above
Question : 12. The unfavorable
balance of Profit and Loss account should be
Answer : c) Subtracted from capital
Question : 13. Which of the following
account will be credited, if business bought goods on credit from Mr. Z
Answer : b) Mr. Z account
Question : 14. Interest paid by the
business on loan is an example of
Answer : a) Revenue expense
Question : 15. Which of the following
account will be credited when a Computer sold that has been used in office
Answer : a) Office equipment account
Question : 16. Finance means
Answer : a) Provision of money at
the time when it is required
Question : 17. "Shareholder
wealth" in a firm is represented by:
Answer : d) The market price per
share of the firm's common stock
Question : 18. The long-run objective
of financial management is to:
Answer : b) Maximize the value of
the firm's common stock.
Question : 19. A(n) would be an
example of a principal, while a(n) would be an example of an agent.
Answer : a) Shareholder; manager
Question : 20. The market price of a
share of common stock is determined by:
Answer : d) Individuals buying and selling
the stock.
Question : 21. The focal point of
financial management in a firm is:
Answer : c) The creation of value
for shareholders.
Question : 22. of a firm refers to
the composition of its long-term funds and its capital structure.
Answer : a) Capitalization
Question : 23. In the, future value
of all cash inflow at the end of time horizon at a particular rate of interest
is calculated.
Answer : c) Discounting technique
Question : 24. is the price at which
the bond is traded in the stock exchange.
Answer : c) Market value
Question : 25. enhances the market
value of shares and therefore equity capital is not free of cost.
Answer : b) Dividends
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