Home
Home >> Accounting>> Accounts Fundamental

Accounts Fundamental MCQ Question with Answer

Accounts Fundamental MCQ with detailed explanation for interview, entrance and competitive exams. Explanation are given for understanding.

Download Accounts Fundamental MCQ Question Answer PDF

Try Accounts Fundamental Mock Test

Question No : 29
The cost of a machine is Rs.6,00,000. The rate of depreciation is 10%. The depreciation for the 3rd year, on diminishing balance method, is

Rs.60,000
Rs.54,000
Rs.48,600
Rs.43,740
View Answer   Discuss

Question No : 30
The life span of a company is dependent on the life span of the

Owner(s) of the company
Promoter of the company
Managing Director of the company
None of the above
View Answer   Discuss

Question No : 31
WDV stands for

Written Down Valuation
Write Down Value
Written Down Value
Writing Down Value
View Answer   Discuss

Question No : 32
WIP stands for

Working Progress
What-in-Progress
Work-in-Progress
Works-in-Progress
View Answer   Discuss

Question No : 33
E. & O.E.

Errors & Omissions Expected
Error & Omission Expected
Errors & Omissions Entered
Errors & Omissions Excepted
View Answer   Discuss

Question No : 34
HUF stands for

Hindu United Family
HIndi Undivided Family
Hindu Undivided Family
Hindu Uniform Family
View Answer   Discuss

Question No : 35
An expense incurred to keep the machine in working condition is a capital expenditure.

True
False
View Answer   Discuss

Wanna test your skill? Here are some exams we prepared for you. So if you need to test your skill just attempt any exam from bellow.

Exam Name No. Of Q Link
Accounting set 1 30 Start
Accounting set 2 30 Start
Accounting set 3 30 Start
Accounting set 4 30 Start
Accounting set 5 30 Start
Accounting set 6 30 Start
Accounting set 7 30 Start
Accounting set 8 30 Start
Accounting set 9 30 Start
Accounting set 10 30 Start
Accounting set 11 30 Start
Accounting set 12 30 Start