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Total Numbers of Question: 20
Total Time: 20 Minutes
Mark for each correct answer: 1
Mark for each incorrect answer: 0.
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Question 1 of 20
1. Question
1 pointsWhich one of the following is NOT true about Capital Expenditure?
Correct
Incorrect
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Question 2 of 20
2. Question
1 pointsReports that can be prepared from the adjusted trial balance is:
Correct
Incorrect
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Question 3 of 20
3. Question
1 pointsWhich of the following adjusting double entries is correct for Unearned income?
Correct
Incorrect
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Question 4 of 20
4. Question
1 pointsA check returned by bank marked “NSF” means:
Correct
Incorrect
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Question 5 of 20
5. Question
1 pointsAny written evidence in support of a business transaction is called as:
Correct
Incorrect
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Question 6 of 20
6. Question
1 pointsStatement of financial position produced from incomplete accounting record is commonly known as:
Correct
Incorrect
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Question 7 of 20
7. Question
1 pointsPartnership type of business is formed by the mutual agreement of partners. What kind of agreement is it?
Correct
Incorrect
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Question 8 of 20
8. Question
1 pointsThe DuPont Analysis uses the following ratios except:
Correct
Incorrect
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Question 9 of 20
9. Question
1 pointsWhich of the following statements is incorrect regarding capital account?
Correct
Incorrect
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Question 10 of 20
10. Question
1 pointsWhich of the following account with normal balance is shown at the credit side of a trial balance?
Correct
Incorrect
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Question 11 of 20
11. Question
1 pointsA current asset that is convertible to cash within 3 months can be referred to:
Correct
Incorrect
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Question 12 of 20
12. Question
1 pointsA firm has not recorded the bad debts by mistake. Which of the following is the effect of bad debts omission?
Correct
Incorrect
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Question 13 of 20
13. Question
1 pointsSuppose that the provision for doubtful debts account’s opening balance is ₹3222, closing balance is ₹5222 and bad debts written off during the accounting period amount to ₹500. Work out the total amount needed to debit in the profit and loss account?
Correct
Incorrect
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Question 14 of 20
14. Question
1 pointsThe revenue recognition principal dictates that all types of incomes should be recorded or recognized when:
Correct
Incorrect
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Question 15 of 20
15. Question
1 pointsWhich one of the following concepts states that the publication or presentation financial statements should not be delayed?
Correct
Incorrect
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Question 16 of 20
16. Question
1 pointsWhich of the following current ratio of and above indicates that the availability of sufficient net working capital and the ability of the firm to meet current liabilities?
Correct
Incorrect
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Question 17 of 20
17. Question
1 pointsThe quick ratio formula uses which of the following:
Correct
Incorrect
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Question 18 of 20
18. Question
1 pointsA company received a cash ₹8000 in advance for auditing service. However, the company neither earned this revenue nor made any adjusting entry in its books. Identify the effect of this omission?
Correct
Incorrect
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Question 19 of 20
19. Question
1 pointsA tool that is used to help bookkeepers and accountants complete the accounting cycle is:
Correct
Incorrect
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Question 20 of 20
20. Question
1 pointsA Low Return on Investment Ratio indicates:
Correct
Incorrect
Other Sets of APDCL AAO Mini Mock Test:
General Knowledge part for APDCL AAO Mini Mock Test:
- APDCL Mini Mock Test- 1
- APDCL Mini Mock Test- 2
- APDCL Mini Mock Test- 3
- APDCL Mini Mock Test- 4
- APDCL Mini Mock Test- 5
- APDCL Mini Mock Test- 6
- APDCL Mini Mock Test- 7
- APDCL Mini Mock Test- 8
