Accounting Quiz Question with Answer


41. which EC directive standardized the form of accounts to which financial reports for external users must conform?

  1. First
  2. Second
  3. Eighth
  4. Fourth

42. The account format that displays debits, credits, balances, and headings.

  1. General journal
  2. General ledger
  3. T-account
  4. Ledger account

43. A Low Return on Investment Ratio (ROI) indicates

  1. Improper utilization of resources
  2. Over investment in assets
  3. Both A and B
  4. None of the above

44. Which financial statement displays the revenues and expenses of a company for a period of time?

  1. Income Statement
  2. Balance Sheet
  3. Cash Flow Statement
  4. Statement of Stackholders Equity

45. Which financial statement uses the expanded accounting equation?

  1. Income statement
  2. Balance sheet
  3. Cash flow statement
  4. Statement of stockholders equity

46. Which of the following would not be found on a standardized balance sheet?

  1. Inventory
  2. Accruals and Deferred Income
  3. Extraordinary Charges
  4. Creditors due and payable after more than one year

47. Following is (are) the characteristic(s) of a budget

  1. It outlines projected activities
  2. Expressions are made in quantitative terms
  3. It is for a fixed period
  4. All of the above

48. Any written evidence in support of a business transaction is called

  1. Journal
  2. Ledger
  3. Ledger posting
  4. Voucher

49. The ratios that refer to the ability of the firm to meet the short term obligations out of its short term resources

  1. Liquidity ratio
  2. Leverage ratios
  3. Activity ratios
  4. Profitability ratios

50. The measure of how efficiently the assets resources are employed by the firm is called

  1. Liquidity ratio
  2. Leverage ratios
  3. Activity ratios
  4. Profitability ratios

Tags :


Multiple Choice Questions and Answers on Accounting


Accounting Multiple Choice Questions and Answers


Accounting Trivia Quiz


Accounting Question and Answer PDF Online




Spreading Knowledge Across the World

USA - United States of America  Canada  United Kingdom  Australia  New Zealand  South America  Brazil  Portugal  England  Scotland  Norway  Ireland  Denmark  France  Spain  Poland  Netherland  Germany  Sweden  South Africa  Ghana  Tanzania  Nigeria  Kenya  Ethiopia  Zambia  Singapore  Malaysia  India  Pakistan  Nepal  Taiwan  Philippines  Libya  Cambodia  Hong Kong  China  UAE - Saudi Arabia  Qatar  Oman  Kuwait  Bahrain  Dubai  Israil  and many more....