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Computerized Accounting Software MCQs: 124 Questions & Answers in Faculty

124 Computerized Accounting Software MCQs in Faculty with answers & explanations. Page 3. Practice objective questions for competitive exams, interviews & se… Use the answer toggle below to show or hide all solutions, tap an option to check one question, or open a question for its own page.

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51

Which of the following is wrong?

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53

Interpretation means

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57

A firm has reported a profit of Rs.1,47,000 for the year ended 31-3-2014 after taking into consideration the following items. (i) The cost of an asset Rs.23,000 has been taken as an expense (ii) The firm anticipated a profit of Rs.12,000 on the sale of an old furniture (iii) Salary of Rs.7,000 outstanding for the year has not been taken into account. (iv) An asset of Rs.85,000 was purchased for Rs.75,000 and was recorded in the books at Rs.85,000. What is the correct amount of profit to be reported in the books?

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