ACCOUNTING MCQS

Q211: Which intangible asset is recorded only as part of the acquisition of another company?

کون سا غیر محسوس اثاثہ صرف دوسری کمپنی کے حصول کے حصے کے طور پر ریکارڈ کیا جاتا ہے؟

Franchise

Goodwill

Copyright

Patent

Q212: A manufacturer buys a machine for $20,000. Its estimated life is five years with a scrap value of $10,000. Depreciation is charged on the straight-line method. What is the percentage rate of depreciation on an annual basis?

20%

50%

5%

10%

Q213: Control risk is assessed at _______?

کنٹرول رسک کا اندازہ _______ پر کیا جاتا ہے؟

Overall financial statement level

Fraud risk factor level

Financial statement assertion level

None of these

Q214: Stratified audit sample means ______?

اسٹریٹائڈ آڈٹ نمونے کا مطلب ______ ہے؟

Items carefully selected from each group

Randomly selected items from audit

Purposively selected items for audit

None of these

Q215: Which statement is not true?

کون سا بیان سچ نہیں ہے؟

The detail provided to employees is a function of the employee’s position within the firm

Authority refers to an individual’s obligation to achieve desired results

If an employee is given the responsibility for a task, that employee should be given authority to make decisions within the limits of that task

All of the above are true

Q216: Which situation indicates an internal control risk in the general ledger/Financial reporting system (GL/FRS)?

کون سی صورتحال عام لیجر/فنانشل رپورٹنگ سسٹم (جی ایل/ایف آر ایس) میں داخلی کنٹرول کے خطرے کی نشاندہی کرتی ہے؟

The employee who maintains the cash receipts journal records transactions in the accounts receivable subsidiary ledger

The employee who maintains the cash journal computes depreciation expense

The cash receipts journal voucher is approved by the treasurer

None of these

Q217: Which statement is not correct?

کون سا بیان درست نہیں ہے؟

Financial statements are prepared based on the unadjusted trial balance

The post-closing trial balance reports the ending balance of each account in general ledger

One purpose of preparing the unadjusted trial balance is to ensure that debits equal credits

None of the above

Q218: Under the direct write-off method of accounting for uncollectible accounts ______?

غیر منقولہ اکاؤنٹس کے لئے اکاؤنٹنگ کے براہ راست تحریری طریقہ کے تحت ______؟

Accounts receivable are reported in the balance sheet at net realizable value, just like the balance of the Accounts Receivable ledger.

The current year uncollectible accounts expense is less than the expense would be under the income statement approach.

The relationship between total accounts receivable and total current period uncollectible accounts expense illustrates the matching principle.

None of these.

Q219: Assets are usually shown in Balance Sheet at ______?

اثاثے عام طور پر ______ پر بیلنس شیٹ میں دکھائے جاتے ہیں؟

Replacement cost

Revalue cost

Unexpired cost

None of these

Q220: The term 'EVA' is stands for ______?

اصطلاح 'ایوا' کا مطلب کیا ہے؟

Expected Value Analysis

Engineering Value Analysis

Extra Value Analysis

Economic Value Added

ACCOUNTING MCQS

Q211: Which intangible asset is recorded only as part of the acquisition of another company?

Explanation

Q212: A manufacturer buys a machine for $20,000. Its estimated life is five years with a scrap value of $10,000. Depreciation is charged on the straight-line method. What is the percentage rate of depreciation on an annual basis?

Explanation

Q213: Control risk is assessed at _______?

Explanation

Q214: Stratified audit sample means ______?

Explanation

Q215: Which statement is not true?

Explanation

Q216: Which situation indicates an internal control risk in the general ledger/Financial reporting system (GL/FRS)?

Explanation

Q217: Which statement is not correct?

Explanation

Q218: Under the direct write-off method of accounting for uncollectible accounts ______?

Explanation

Q219: Assets are usually shown in Balance Sheet at ______?

Explanation

Q220: The term 'EVA' is stands for ______?

Explanation