Financial Accounting MCQ

Financial Accounting MCQ

  • Sharad Jaiswal
  • 22nd Nov, 2021

We have listed below the best Financial Accounting MCQ Questions for your basic knowledge of Financial Accounting. This Financial Accounting MCQ Test contains 25+ Financial Accounting Multiple Choice Questions. You have to select the right answer to every question to check your final preparation for Financial Accounting.

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Practice Best Financial Accounting MCQ Questions

1) What is customer value?

  • A. Post purchase dissonance
  • B.Excess of satisfaction
  • C.Customer's perceived benefits
  • D.None of these

2) Which of the following has the highest cost of capital?

  • A. Loans
  • B.Equity shares
  • C.Preference shares
  • D.Bonds

3) Which is called as Dividend Ratio Method?

  • A. Asset
  • B.Equity Method
  • C.Debt Equity Method
  • D.Dividend Yield Method

4) Copyrights, Patents and Trademarks are ________

  • A. Investments
  • B.Fixed assets
  • C.Intangible assets
  • D.Current assets

5) Gross profit is

  • A. Opening stock
  • B.Sales over cost of goods sold
  • C.Cost of goods sold
  • D.expenses of the period

6) AICPA stand for ________ .

  • A. American Institute of Certified Public Assistant
  • B.American Institute of Certified Private Accountants
  • C.American Institute of Certified Public Accountants
  • D.None of these

7) What is equity ?

  • A. Liability of a business
  • B.Cash from the business
  • C.Owner claim on liabilities
  • D.Owner claim on assets

8) Business transaction is recorded _______ .

  • A. Today
  • B.Tomorrow
  • C.Week
  • D.Month

9) Discount allowed is _______

  • A. Loss
  • B.Income
  • C.Abnormal loss
  • D.Expense

10) Accounting equation is ________

  • A. Assets - Liabilities = Capital
  • B.Assets + Capital = Liabilities
  • C.Capital + Liabilities = Assets + Income
  • D.Cash + Other assets = Capital - Liabilities

11) Liabilities are :

  • A. Expenses
  • B.Obligations
  • C.Resources
  • D.Future benefits

12) Balance sheets are prepared

  • A. Daily
  • B.Weekly
  • C.Monthly
  • D.Annually

13) Current Ratio =

  • A. Debt/Equity
  • B.Current assets/Equity
  • C.Quick assets/Current liabilities
  • D.Current assets/Current liabilities

14) Royalty is an _________

  • A. Contract
  • B.Agreement
  • C.Mutual action
  • D.None of these

15) How many branches of accounting are :

  • A. THREE
  • B.FOUR
  • C.FIVE
  • D.SIX

16) Accounting is the Lnaguage of _______

  • A. Company
  • B.Business
  • C.Properitor
  • D.Owner

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