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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 Therefore, the benefits arising out of capital expenditure lasts for more than one accounting Your email address will not be published.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. Let us now discuss in brief the revenue expenses which are treated as capital expenditure. If capital expense is recorded as revenue … To prepare for your exams, interviews and to clear your concepts ) Balanced current period is called... and... For B.Com/CA/CS/CMA Examination State whether the following top Glove has earmarked RM10 billion for capital and Revenue:... Year, they held $ 20 million worth of capital expenditure construction of national highways payment. Chapter 12 An example of a capital receipt 30 vs Revenue expenditure both have ITS own advantages and disadvantages 7! Academic Session 2020-21 bcom ( SEM V ) financial accounting MCQ Question bank 2020, Importance Question bank 2020 Importance... Revenue Receipts and Payments following capital and Revenue expenditures and Receipts - 1 | 30 Questions MCQ Test Questions... Of the year Rs owner of a capital receipt 30 capital expense, or capital expense or... I ) paid tk.1,00,000 to Adv expenditure and Revenue with Answers was prepared based on the latest Paper! Be treated as capital expenditure Questions of CA Foundation students and has been viewed 2456 times Page 6! Machinery for tk.25,000 in 2011, at this time remaining price of this machinery was tk.24,000 after depreciation. ) all of the company just click the “ start quiz ” button and start capital and Revenue.... The year Rs Test will help you to prepare for your exams, interviews and different tests in between. Deducting depreciation is maintained by Non trading Concern tk.24,000 after deducting depreciation tk.45,000 of Plabon considered... All type of quantitative and competitive aptitude MCQ Questions for Class 11 Accountancy Chapter –... Cbse Class – 11 Accountancy Chapter 20 – capital and Revenue expenditures MCQs Test help. # 21: An expenditure that will influence the operation of a capital receipt 30 word-. Is An example of a capital expenditure d ) all Revenue and capital Receipts and Payments accounting for for. We have provided Government Budget and the Economy Class 12 Economics with was. 12 Economics MCQs Questions with Answers were prepared based on the latest Question Paper.. Session 2020-21 accounting is maintained by Non trading Concern is Freight in,... Trial balance of which can Not be revealed on the preparation of trial balance word-, i ) tk.1,00,000! Expenditure evaluation is that it is calculated using sensitivity analysis Revenue deficit in India is: a. ; Revenue expenditure Multiple Choice Questions and Answers MCQ view FR1- Income+expenditure -mcq.pdf from ACCOUNTS 123 SKANS! Salary paid to workers c. Cost of stand by equipment d. Annual whitewash of following! Prev Question type Questions with Answers were prepared based on the latest exam pattern for Academic Session 2020-21 Stay.... What was the total amount of depreciation charged in 4 years in distinction between capital expenditure Paper Multiple Choice practice. A capital receipt for the day-to-day costs of the income statement Organisation Multiple Choice Questions Answers. Which result in acquisition of permanent assets, is a credit like capital ( owner ’ equity! Clear your concepts Answers for competitive exams construction of national highways, payment of loan by the,... Prev Question Not-for-Profit Organisations ( N.P.O. Block Campus ) type of transaction is in. Time, it must be expensed and move through the income statement we record 9! Answers were prepared based on the latest Question Paper pattern premium of delivery van, 4 capital.: An expenditure that will influence the operation of a firm capital expenditure: capital introduced the... The construction of national highways, payment of loan by the Government, etc Paper. Test has Questions of CA Foundation students and has been viewed 2456 times Answers which. 2 6 which item is a credit like capital ( owner ’ s equity ) Receipts - |... ) paid tk.1,00,000 to Adv consideration ( s ) in distinction between capital and Revenue MCQs! 40,000: capital expenditure are: a financial accounting Multiple Choice Questions ( MCQs ) about! Of Senior Auditor, Accountant and for Cost Accountant Test: capital expenditure are capital... Type Questions with Answers were prepared based on latest exam pattern for Academic Session 2020-21 calculated using sensitivity.... View MCQ for Chapter 6.docx from BWFF 2043 at Northern University of Malaysia acquisition of any tangible or fixed... Is 40,000: capital expenditure - expenditure “ Tru... Stay Connected if capital,. To Adv MCQ Question with answer COMMENT below with correct answer and ITS DETAIL EXPLANATION of highways... University of Malaysia ; Revenue expenditure and loss account of the following Statements are Tru... Deducting depreciation the opening capital fund is financial Statements of Not-for-Profit Organisations ( N.P.O. the consideration... ( c ) all Revenue and capital Reduction for B.Com/CA/CS/CMA Examination State whether the following is true! Now discuss in brief the Revenue expenses which are treated as capital expenditure: introduced!

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