BCA TU Financial Accounting MCQ 2020 with answers

Hello buddies, today we are back with MCQ Question paper of Financial Accounting which was held on 2078-04-18 during second wave of corona virus. Though this exam is held in the year 2021 August, the question papers are termed as of year 2020.

Below is the Multiple Choice Question paper of Financial Accounting with the answers marked bold. Please go through it:

BCA Second Semester 2020- Financial Accounting MCQ

i) What Is a full form GAAP?

a) Generally accepted auditing principles. b) Generally accepted accounting principles

c) Government accepted accounting principles d) General administrative and accounting process.

ii) What is the journalizing rule of personal Account?

a) Debit cash A/C and credit personal A/C b) Debit the receiver and credit the giver

c) Debit what comes in credit what goes out d) Debit expenses and losses and credit incomes and gains.

iii) Subsidiary books are known as

a) Sub-division of journal b) Sub-division of ledger

c) Sub- division of assets d) Sub-division of liability

iv) We prepared profit and loss account for

a) Determination of gross profit b) Determination of net profit

c) Determination of cost of production d) Determination of financial position

v) Which transaction is recorded with purchase book?

a) Cash purchase b) Cash purchase of assets

c) Credit purchase of goods d) Credit purchase of assets

vi) Out of the following, which one is not feature of company?

a) Artificial person b) Common Seal c) Limited liability d) Prospectus

vii) Double entry of accounting refers to

a) Every transaction has two-fold equal effects b) Every transaction record in account

c) Only monetary transactions records in account d) Credit of cash

viii) A company is purchased a machine at Rs. 100.000 with 4 years life and zero salvage value. What is the amount of depreciation per year under straight line method?

a) Rs. 20,000 b) Rs. 25,000 c) Rs. 30,000 d) Rs. 31,300

ix) A business required 32,000 units per year, ordering cost per order Rs.500 and carrying cost per unit Rs.20. Determine EOQ of business?

a) 4,000 units. b) 3,000 units c) 5,000 units d) 2,000 units

x) A company having 1000,000 authorized share capital @Rs.100 each. Company issued 50 percent of authorized capital and subscribed 400,000 shares and paid fully. Which one is subscribed capital?

a) Rs. 10,00,00,000 b) Rs.5,00,00,000 c) Rs.4,00,00,000 d) Rs.8,00,00,000

The PDF for the above Question is given below:

Bca Guide

BCA TU Financial Accounting MCQ 2020 with answers