Accounting & Auditing Mcqs: cover wide range of topics including financial accounting, management accounting, auditing principles, financial statements, tax accounting, internal controls, and more. Perfect for students preparing for professional exams, certifications, and competitive tests in accounting and auditing
What is called the sequence of economic activity which is typically characterized by recession, fiscal recovery, growth and fiscal decline ?
A. Economic Cycle
B. Business Cycle
C. Complete Cycle
D. Cycle Business
How is termed the balance of investment and return; in which investment and return are exactly equal ?
A. Break even
B. Breakeven point
C. Both of them
D. None of them
Which term is used for an addition to normal payment by a company or extra payment of gratuity to workers ?
A. Bonus
B. Overtime
C. Prize
D. Gift
A stock that sells at a high price because of public confidence in its long record of steady earnings is called ?
A. Blue chip
B. Blue Chipper
C. An extremely valuable asset or property
D. All of these
What is called the trade of goods or services without the exchange of money ?
A. Free exchange
B. Liberal Exchange
C. Barter
D. Bilateral Trade
How is termed the legal proceeding in which debtor remains unable to pay his creditors in full ?
A. Bankruptcy
B. Default
C. Total loss
D. Crash
What is called the difference in the money value between exports and imports during the specific period of time ?
A. Balance of payment
B. Balance sheet
C. Terms of trade
D. Balance of trade
The exchange rate is the ratio at which the currency of one country is exchanged for the currency of another. Which method was developed by the World bank to exchange rates ?
A. Breton Wood method
B. Free market exchange rate
C. Atlas method of exchange rate
D. Open market exchange rate
Account is format banking, brokerage or business relationship established to provide for regular services. dealings and other financial transactions. Which of the following phenomenon(s) are also referred by term, Account ?
A. A precise list or enumeration of financial transactions
B. Money deposited for checking savings or breakage use
C. A customer having business or credit relationship with a firm
D. All of these
A supply curve is directly affected by ?
A. technology
B. input costs
C. government regulation
D. all of the above
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