Important MCQs CDS

Q1. Double Entry Principle means:

1. Having debit for every credit and similarly, credit for each debit
2. Writing all the entries twice in the book .
3. Maintaining the double account for all business transactions
4. Writing two times the same entry.

Q2. Which of the following is not a function of accounting

1. Keeping systematic record
2. Protecting properties of business
3. Maximising the results
4. Meeting/legal ,equirements

Q3. The system of recording transactions based on dual concept is called

1. Double account system
2. Double entry system
3. Single entry system
4. Cash system.

Q4. According to money measurement concept, the following wil! be recorded in the books of account.

1. Health of the chairman of the company
2. Quality control in the business.
3. Value of the building
4. All of those.

Q5. Which of the following is not dependent on accounting?

1. Management accounting
2. Cost accounting
3. Financial accounting
4. Book-keeping.

Q6. Which is not function of accounting?

1. Decision making
2. Measurement
3. Forecasting
4. Ledger posting .

Q7. The practice of appending note regarciing contingent liabilities in the accounting statements is in pursuant to :

1. Convention of consistency
2. Money measurement concept
3. Convention of disclosure
4. None of these.

Q8. The proprietor is treated as a creditor to the extent of his capital. accounting to:

1. Cost concept
2. Business entity concept
3. Going concern concept
4. All of these.

Q9. The accounting equation is based on

1. Going concern concept
2. Dual aspect concept
3. Money measurement concept
4. All of these.

Q10. Market value of investment is shown as a footnote according to-

1. Convention of disclosure
2. Convention of consistency
3. Convention of conservatism
4. All of these.