Accountancy and Auditing
Basic Accounting Principles MCQs with Answers
Which of the following is considered the fundamental accounting equation? a) Assets = Liabilities + Owner’s Equity b) Revenue =…
Read More »Auditor’s Report & Opinion MCQs with Answers
Which of the following is the primary purpose of an auditor’s report? a) To provide management with financial advice b)…
Read More »Auditing in Computerized Environment MCQs with Answers
Which of the following is a key challenge when auditing in a computerized environment? a) Difficulty in identifying fraudulent transactions…
Read More »Audit Process & Procedures MCQs with Answers
Which of the following is the first step in the audit process? a) Gathering evidence b) Understanding the client’s business…
Read More »Amalgamation, Absorption & Reconstruction MCQs with Answers
Which of the following is true about amalgamation? a) Amalgamation results in the formation of a new company. b) Amalgamation…
Read More »Activity-Based Costing (ABC) MCQs with Answers
Which of the following is the primary goal of Activity-Based Costing (ABC)? a) To allocate costs based on the volume…
Read More »Accrual vs. Cash Basis Accounting MCQs with Answers
Which of the following is true about accrual basis accounting? a) Revenues are recorded when cash is received b) Expenses…
Read More »Accounting for Share Issuance & Buyback MCQs with Answers
Which type of share gives the shareholder voting rights in a company? a) Preference shares b) Debentures c) Equity shares…
Read More »Accounting for Debentures MCQs with Answers
Debentures are a type of: a) Equity capital b) Debt instrument c) Current liability d) Revenue reserve Debenture holders are…
Read More »Accounting for Intangible Assets MCQs with Answers
Which of the following is considered an intangible asset? a) Land b) Machinery c) Trademark d) Inventory Intangible assets are…
Read More »Accounting Errors & Their Rectification MCQs with Answers
Which of the following is an example of a clerical error? a) Recording incorrect depreciation b) Posting an amount to…
Read More »Accounting for Assets & Liabilities MCQs with Answers
Which of the following is classified as a current asset? a) Land b) Accounts Receivable c) Equipment d) Trademark Which…
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