Optional Subjects
Revenue Recognition Principles MCQs with Answers
What is the core principle of revenue recognition under the accrual basis of accounting? a) Revenue is recognized when cash…
Read More »Responsibility Accounting & Performance Measurement MCQs with Answers
Which of the following is a key feature of responsibility accounting? a) Assigning blame for all financial outcomes b) Measuring…
Read More »Professional Ethics in Auditing MCQs with Answers
Which of the following is a key principle of professional ethics in auditing? a) Objectivity b) Flexibility c) Profitability d)…
Read More »Preparation of Financial Statements MCQs with Answers
Which of the following is NOT a part of the financial statements? A) Income statement B) Balance sheet C) Cash…
Read More »Performance & Operational Auditing MCQs with Answers
The primary objective of performance auditing is to: A) Assess financial accuracy B) Evaluate the effectiveness of operations C) Identify…
Read More »Objectives & Importance of Auditing MCQs with Answers
The main objective of auditing is to: A) Find tax loopholes B) Express an opinion on financial statements C) Calculate…
Read More »Marginal Costing & Break-even Analysis MCQs with Answers
What does marginal costing focus on? A) Total costs B) Variable costs C) Fixed costs D) The cost of capital…
Read More »Journal Entries in Accounting MCQs with Answers
What is the correct journal entry when a company purchases inventory on credit? A) Debit Accounts Payable, Credit Cash B)…
Read More »Job, Batch & Process Costing MCQs with Answers
Which of the following costing methods is used for manufacturing unique products? A) Job costing B) Batch costing C) Process…
Read More »IT & Information System Auditing MCQs with Answers
Which of the following is the main objective of IT auditing? A) To review financial statements B) To evaluate the…
Read More »Inventory Valuation Techniques MCQs with Answers
Which inventory valuation method assigns the most recent costs to inventory? A) FIFO (First-In, First-Out) B) LIFO (Last-In, First-Out) C)…
Read More »Introduction to Cost Accounting MCQs with Answers
What is the primary objective of cost accounting? A) To determine the profit of the company B) To track and…
Read More »