MCQ for Accounting for business decision

7. Management accounting concentrates on_____________

a) Opening books of account
b)Preparation of financial statements
c)Control of business activities
d) None of these

8. Which type of asset class includes those assets which have only definite use and become
valueless when the yield is over?

a) Fixed asset
b) Current asset

c) Fictitious asset
d)Wasting asset

9. An accounting that deals with the accounting and reporting of information to management
regarding the detail information is
a) Financial accounting
b) Management accounting
c) Cost accounting
d) Real Accounting

10. The primary objective of management accounting is

a) Prepare final a/c
b) Provide management complete and true information
c) Both (a) & (b)
d) None of these

11.Bad debt amount should be credited to

a) Debtors account
b) Bad debts account
c) Sales account
d) Creditors account

12. Identify which is wrong rule

a) Nominal account- debit all expenses & losses