principle would require Conrad Accounting Services to record the bookkeeping revenue in the following year and not the year the cash was received? C. Wages paid for installation of machinery. Try the multiple choice questions below to test your knowledge of the sections of the book indicated below. Car … Cost of repair. (a) Revenue and assets (b) Revenue and liabilities (c) Revenue and expenses (d) Liabilities and expenses. Revenues are not impacted by the recovery of accounts written off. D. Allowance for doubtful accounts. This activity contains 10 questions. Unearned revenue is recorded on the statement of cash flows when it is earned. Flashcards. Total assets are not changed when unearned revenue is earned. Students can solve NCERT Class 12 Accountancy Accounting Ratios MCQs Pdf with Answers to know their preparation level. Spell. Terms in this set (23) Which of the following is true of unearned revenue? Multiple choice questions. 1,200 is paid as dealer's commission. 74. 1,000 is spent on its repairs, Rs. thank you very much for this questions keep it up. A. X holding 500 shares paid only application and allotment money whereas Y holding 400 shares did not pay final call. ₹2 on lirst call and ₹2 on final call. You may click the link to find Multiple choice questions (Q.No-1 to 10) on Capital and Revenue Receipts and Payments. it’s good. M . thank ui. Credit card discounts. Answer. Marginal Cost c. Standard Cost d. None of the above 3. P & L . Stanton does not have an accounting po...? B. endalk . Purchase discounts are not included in revenue, but instead reduce cost of goods sold. Revenue recognition principle Monetary unit assumption. Which of the following is used for performance measurement in absolute sense? PLAY. pandiaus. A second hand car is purchased for Rs. Which of the following is true about statutory corporations? If capital expense is recorded as revenue expense then which calculation will be wrong? Wrong! Read Multiple Choice Questions and answers. Once you have completed the test, click on 'Submit Answers for Grading' to get your results. Cost c. Revenue d. Profit. Stanton College, a not-for-profit organization, received a building with no donor stipulations as to its use. These are the running expenses of the business. Capital and revenue losses. D. Rent of a factory. … Multiple choice questions (MCQs) tagel . Test. Juvy . Which of the following are considered control environment factors? Reply. A)Resources appropriately reported within proprietary or fiduciary funds are excluded from special revenue funds. a. Statement Of Operations . The balance of cash account indicates? [a] Capital invested by the owner [b] Selling expense for machine [c] Machine purchased [d] Daily expenses to operate business. Reply. C. Sales returns and allowances. Legal expenses incurred in purchasing land, property represent: a) Capital expenditure b) Revenue expenditure c) Revenue loss d) Deferred revenue expenditure 109. 63. Go To Download Page Close. Basic to a proper control environment are the quality and integrity of personnel who must perform the prescribed procedures. Which of the following accurately describes those requirements? Free PDF Download of CBSE Accountancy Multiple Choice Questions for Class 12 with Answers Chapter 8 Issue of Debentures. add more ideal question. Learn accounting principles, financial statements, debits & credits and more. Its total expenses for 2013 would be: Patsy . sahil. A. B. If net revenue from operations of a firm are Rs.1,20,000; cost of revenue from operations is Rs.66,000 and operating expenses are Rs.21,600, what will be the percentage of operating income on net revenue from operations ? A budget is a detailed plan of operations for future periods. its so nice keep it up. Accelerating expenses c. Incorrect classification of current liabilities as non-current d. Aggressive accounting for accruals C. They reduce the profit of the concern. Reply. February 27, 2018 at 4:41 am . This name is used instead of income statement. (a) Statutory corporations are public enterprises that come into existence by a special act of the parliament. Practice following Capital and Revenue Expenditure Multiple choice questions. Capital expenditure – i. Multiple-choice questions Try the multiple choice questions below to test your knowledge of this chapter. Rogers Corporation reported the following amounts at the end of its first year of operations, December 31, 2013: contributed capital $120,000 - sales revenue $480,000 - total assets $400,000 - and total liabilities $250,000. The statement of financial position is NOT associated with the income statement. Categories Capital and revenue, Multiple choice questions (MCQs) 3 Comments Post navigation. a. Sunk Cost b. It’s a very nice activity. Sea Lion Park, a private not-for-profit zoological society, received contributions restricted for research totaling $50,000 in 2011. A budget is a detailed pl... BUDGET AND BUDGETARY CONTROL MULTIPLE CHOICE QUESTIONS AND ANSERS (MCQs) Fill up the blanks: 1. Reply. A. rashidjaved. Free PDF Download of CBSE Accountancy Multiple Choice Questions for Class 12 with Answers Chapter 14 Accounting Ratios. MCQ Questions for Class 12 Accountancy with Answers were prepared based on the latest exam pattern. A director of a corporation is best characterized as a(n) ? Gravity. Which of the following would not appear on the retained earnings statement? … Ayesha . Created by. good. (A) ₹64,000 (B) ₹78,000 (C) ₹ 52,000 (D) ₹96,000. Which among the following costs are not useful for managerial decision making? endalk . ... is under an annual appropriation from the budget of the government and the revenue earned by it is also paid into the treasury. Match. Wrong! Expense center c. 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