Gewi education and welfare institute

MCQs on Financial Accounting  1. Liability- side of the balance-sheet comprises: (a)  Capital and reserve (b)  Long-term liabilities (c)  Current liabilities (d)  All of the above     Click Here for Answer    Answer - (d)       2. Balance Sheet of a firm indicates which of the following? (a)  Profit or Loss over a period. (b)  Financial position of the unit over a period. (c)  Financial position of the unit as on a particular date. (d)  Position of assets and liabilities over a period of  time.     Click Here for Answer    Answer - (c)     3. Economic life of an enterprise is split into the periodic interval as per ------- concept (a)  Matching (b)  Money measurement (c)  Periodicity (d)  Accrual     Click Here for Answer    Answer - (c)     4. Provision is provided for dou...