Accounting for Not for Profit Organisation Class 12 MCQs Questions with Answers. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Learn vocabulary, terms, and more with flashcards ... they held $24 million worth of capital. These short objective type questions with answers are very important for Board exams as well as competitive exams. B. d. mortgage interest Which of the following is a capital expenditure? View Answer Discuss. 1000 plus cess (b) Rs. Expenses paid on installation of a plant. B) … d. Records additional capital. Practice for BBA or MBA exams using these MCQ. If you have any queries regarding CBSE Class 12 Accountancy Accounting for Not for Profit Organisation MCQs Multiple Choice Questions with Answers, drop a comment below and we will get back to you soon. Revenue deficit in India is: (a) Positive (b) Negative (c) Zero (a) Balanced. Nice. If capital expense is recorded as revenue expense then which 2,60,000 but has no other income is: (a) Rs. Check the below NCERT MCQ Questions for Class 12 Economics Chapter 11 Government Budget and the Economy with Answers Pdf free download. Firm for publicity of goods for 3 years, ii) Paid rent in advance MCQ#21: An expenditure that will benefit only the current period is called which of the following? machinery is called. We have provided Government Budget and the Economy Class 12 Economics MCQs Questions with Answers to help students understand the concept very well. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Road tax and insurance premium of delivery van, 4. Free Online MCQs for CBSE Class – 11 Accountancy Chapter 20 – Capital and Revenue with Answers. ii Additional shop counter. Expenditure, which result in acquisition of permanent assets, is a capital expenditure. Page-13 section-4 If a capital expenditure is treated as a revenue expenditure, then _____. a. View MCQ for chapter 6.docx from BWFF 2043 at Northern University of Malaysia. It is considered a capital expenditure when the asset is newly purchased or when money is used towards extending the useful life of an existing asset, such as repairing the roof. 11. Therefore, the benefits arising out of capital expenditure lasts for more than one accounting Your email address will not be published. Cash loaned to a company is called ... Income and Expenditure account (D)Balance Sheet 2. 13(a)], Chapter-4: Capital and Revenue Transactions: MCQ, Chapter-1: Introduction to Accounting : MCQ. accounting mcqs for accountant. 11, Repair of plant and machinery answer choices . business valued tk.40,000 and paid for its installation tk.5,000. MULTIPLE CHOICE QUESTIONS CHAPTERS 16 – 20 CHAPTER 16 1. Dec 26,2020 - Test: Capital And Revenue Expenditures And Receipts - 1 | 30 Questions MCQ Test has questions of CA Foundation preparation. Your email address will not be published. Computes the true interest rate. Effect on revenue generating capacity of business. 2. A capital expenditure. Receipts and Payments A/c is a summary of: (a) All Capital Receipts and Payments (b) All Revenue Receipts and Payments (c) All Revenue and Capital Receipts and Payments (d) None of the above. Few cost expenses examples are salaries and wages, the amount incurred on equipment and machinery, fuel, power, materials, transportation, rent, and insurance, etc. 1. Dec 19, 2020 - MCQ - Capital and Revenue Expenditures and Receipts CA Foundation Notes | EduRev is made by best teachers of CA Foundation. Required fields are marked *. 12 &13: On 1 January 2008 Mr. Plabon Voumik purchased a machinery for his Revenue Deficit = Revenue Expenditures (RE) – Revenue Receipts (RR) In short, there will be revenue deficit in a government budget when revenue expenditure exceeds revenue receipts. Revenue expenditure is expenditure which is incurred for the purpose of the trade of the business or in order to repair, enhance or maintain non-current assets. is –, 6. Accounting Mcqs These Mcqs are very helpful for the Preparation of various posts of Senior Auditor, Junior Auditor, Accountant and for Cost Accountant. I think it is better to go through this MCQ’s. b. Multiple Choice Quiz (chapter 6 & 7) 1. We have provided Government Budget and the Economy Class 12 Economics MCQs Questions with Answers to help students understand the concept very well. Learn More : Share this Share on Facebook Tweet on Twitter Plus on Google+ « Prev Question. Class 12 Accountancy MCQs Pdf. He sold this Import duty of goods A capital expenditure B cost of goods sold C gross profit D revenue expenditure . We hope the given NCERT MCQ Questions for Class 12 Accountancy Chapter 1 Accounting for Not for Profit Organisation with Answers Pdf free download will help you. What type of transaction is Freight in word-, i) Paid tk.1,00,000 to machinery for tk.25,000 in 2011, At this time remaining price of this machinery tk.5,000 for land’s registration. key: 1(c), 2(d), 3(b), 4(d), 5(b), 6(b), 7(b), 8(d), 9(a), 10(b), 11(b), 12(d), Nature of business. Capital Expenditure and Depreciation. c. current expenditures. transfer cost tk.25,000 from Dhanmondi to Motijheel. Budget Budgetary Control - Finance (MCQ) Questions and answers Home >> Category >> Finance (MCQ) Questions and answers >> Budget Budgetary Control 1) Given Production at 60% activity, 600 units, Material Rs 50 per unit, Labour Rs 20 per unit, Direct expenses Rs 5 per unit, Factory overheads Rs 20,000 ( 60% variable) and Administration expenses Rs 15,000 ( 60% fixed). d. insurance. expenses on the construction of national highways, payment of loan by the government, etc. In comprehensive income statement we record -, 8. iv New tyre for a van. Each question has 4 answers from which you need to choose the correct one. $85,700 b. A) Wrong totalling of account. What was the total amount of depreciation charged in 4 years? Answer: B. b. opportunity costs. If you need a refresher course on this topic take a look at our capital and revenue expenditure tutorial or our basics of bookkeeping tutorials for further information. 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