Daily Updated MCQS

  • (A)Error of omission
  • (B)Error of principle
  • (C)Compensating error
  • (D)Error of commission
  • The Correct Answer is Error of commission

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  • (A)Two
  • (B)Three
  • (C)Five
  • (D)Six
  • The Correct Answer is Two

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  • (A)Inventory
  • (B)Sale return
  • (C)Equity
  • (D)Purchases
  • The Correct Answer is Inventory

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  • (A)External liabilities
  • (B)Current liabilities
  • (C)Liquid Liabilities
  • (D)Fixed liabilities
  • The Correct Answer is Current liabilities

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  • (A)External liabilities
  • (B)Current liabilities
  • (C)Liquid Liabilities
  • (D)Fixed liabilities
  • The Correct Answer is Current liabilities

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  • (A)External liabilities
  • (B)Current liabilities
  • (C)Liquid Liabilities
  • (D)Fixed liabilities
  • The Correct Answer is Current liabilities

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  • (A)Fictitious assets
  • (B)Quick asset
  • (C)Real asset
  • (D)Outstanding asset
  • The Correct Answer is Outstanding asset

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  • (A)Fixed assets
  • (B)Fictitious assets
  • (C)Contingent assets
  • (D)Quick assets
  • The Correct Answer is Contingent assets

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  • (A)Fixed asset
  • (B)Quick asset
  • (C)Fictitious assets
  • (D)Real assets
  • The Correct Answer is Real assets

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  • (A)Current asset
  • (B)intangible asset
  • (C)Tangible asset
  • (D)Liquid asset
  • The Correct Answer is Tangible asset

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  • (A)Profit
  • (B)Income
  • (C)Expense
  • (D)Drawing
  • The Correct Answer is Drawing

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  • (A)Expense
  • (B)Expense
  • (C)financial assets
  • (D)All of them
  • The Correct Answer is financial assets

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  • (A)Capital
  • (B)Business
  • (C)Drawings
  • (D)All of them
  • The Correct Answer is Capital

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  • (A)Liabilities
  • (B)Revenues
  • (C)Expenses
  • (D)Assets
  • The Correct Answer is Liabilities

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