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Please study previous parts ( Part 1 and Part 2) of multiple choice questions in Accounting. For writing
multiple choice questions in accounting - (Part 3), we are taking our Feb. 2011's accounting topics. If you
read these topics, you will surely choose correct answer out of these multiple choice questions in
accounting.
Question 1. Which department is responsible to record the transaction on the basis of invoice?
(a) Financial statements which are made and presented for an accounting period of more than one
year.
(b) Financial statements which are made and presented for an accounting period of less than one year.
(c) Financial statements which are made and presented for an a day.
(d) Financial statements which are made and presented for an accounting period of one year.
Reference for answer of this multiple choice question in accounting : What are Interim Financial
Statements?
Reference for answer of this multiple choice question in accounting : Sensitive Analysis in Finance
A machinery of Rs. 4000 was sold for Rs. 5200. Depreciation provision to date was Rs. 400; and
commission paid to selling agent was Rs. 320 and wages paid to the worker for removing the machine
was Rs. 50.
and depreciation, commission and wages journal entry will be done separately.
(b) Cash Account Dr. 5200
Reference for answer of this multiple choice question in accounting : Seignorage Term has been
Changed
Question 7. What are the effects of creating provision for doubtful debts on the balance sheet ?
(d) There will no effect of creating provision for doubtful debts on the balance sheet.
Reference for answer of this multiple choice question in accounting : Accounting Answers - Part 1
Reference for answer of this multiple choice question in accounting : Costing System
(d) Overheads
Reference for answer of this multiple choice question in accounting : Cost Classification
Question 10. What is Buyback of Shares?
(d) It means to give more shares to those who have bought shares from company.
Reference for answer of this multiple choice question in accounting : Buyback of Shares
Accounting 688test 40
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