Construction Management (2180611) MCQs

MCQs of Construction accounts management

Showing 1 to 10 out of 18 Questions
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1.
Accounting is a system of __________.
(a) Recording
(b) Collecting
(c) Summarizing
(d) All of the above
Answer:

Option (b)

2.
Which of these is not a part of accounting system?
(a) Summarizing
(b) Organizing
(c) Analyzing
(d) Presenting
Answer:

Option (b)

3.
Monetary information about project can be presented in _________ terms.
(a) Balance sheet
(b) Profit and loss account
(c) Financial position change statement
(d) All of the above
Answer:

Option (d)

4.
Financial statement of a company can be useful for ________.
(a) To measure company’s liquidity
(b) To know the company’s tax liability
(c) To know the stability and profitability
(d) All of the above
Answer:

Option (d)

5.
Who should be concerned about company’s financial flexibility and profit generation ability?
(a) Employees
(b) Company’s Management
(c) Investors
(d) Tax authorities
Answer:

Option (b)

6.
The creditors may be interested to know about company’s _________
(a) Tax Liability
(b) Stability and profitability
(c) Debt Repayment capabilities
(d) None of the above
Answer:

Option (c)

7.
Which of these is not a principle of accounting?
(a) It is a systematic exercise
(b) It is practiced in a social system
(c) It follows flexible approach
(d) It is imaginary document
Answer:

Option (d)

8.
_________ is the assumption made while accounting.
(a) The establishment is going to exists forever
(b) Sum of the credits is always equal to sum of debit.
(c) All prospective losses are considered but all profits are not accounted
(d) All of the above
Answer:

Option (d)

9.
Select the correct sequence of accounting from below : a. Making adjustment entries b. Preparing initial trial balance c. Initiation of transaction d. Recording transaction in T – account e. Preparing the balance sheet f. Preparing profit and loss account g. Recording transaction in chronological manner
(a) C – G – A – D – B – F – E
(b) D – G – A – C – B – F – E
(c) F – E – A – D – B – C – G
(d) D – B – A – G – C – F – E
Answer:

Option (a)

10.
Method use for revenue recognition in construction contract is ________.
(a) Straight accrual method
(b) Cash method
(c) Complete contract method
(d) All of the above
Answer:

Option (d)

Showing 1 to 10 out of 18 Questions
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