111 Accounting AS-Level MCQ’s Paper-1 Topical/Yearly

Description

111 Accounting AS-Level MCQ’s Paper-1 Topical/Yearly

• All Variants
• Solved with explanation of all choices A,B,C & D
• Questions order from new to old
• Each chapter has been classified into subtopics

TABLE OF CONTENTS

CHAPTER 1 BANK RECONCILIATION STATEMENTS

1.1: CALCULATION OF ADJUSTED CASHBOOK BALANCE
1.2: CALCULATION OF BANK STATEMENT BALANCE
1.3: CALCULATION OF OTHER MISSING ITEMS
1.4: MULTIPLE TOPICS
ANSWERS SECTION

CHAPTER 2 IRRECOVERABLE DEBTS & DOUBTFUL DEBTS
2.1: IRRECOVERABLE DEBTS & IRRECOVERABLE DEBTS RECOVERED
2.2: PROVISION FOR DOUBTFUL DEBTS
2.3: IRRECOVERABLE & DOUBTFUL DEBTS
2.4: MULTIPLE TOPICS
ANSWERS SECTION

CHAPTER 3 ACCOUNTING FOR NON-CURRENT ASSETS
3.1: DEPRECIATION THEORY
3.2: STRAIGHT LINE METHOD
3.3: REDUCING BALANCE METHOD
3.4: DISPOSAL OF ASSETS
3.5: REVALUATION METHOD
3.6: MULTIPLE TOPICS
ANSWERS SECTION

CHAPTER 4 ACCOUNTING CONCEPTS AND CONVENTIONS
4.1: ENTITY & CONSISTENCY
4.2: PRUDENCE & MATERIALITY
4.3: MATCHING & ACCRUAL
4.4: SUBSTANCE OVER FROM & MONEY MEASUREMENT
4.5: GOING CONCERN & HISTORICAL COST
4.6: MULTIPLE TOPICS
ANSWERS SECTION

CHAPTER 5 FINANCIAL STATEMENTS OF SOLE TRADER
5.1: DOUBLE ENTRY
5.2: PREPAYMENT & ACCRUALS
5.3: STATEMENTS OF PROFIT OR LOSS (INCOME STATEMENT)
5.4: STATEMENT OF FINANCIAL POSITION
5.5: LOWER OF COST AND NET REALISBALE VALUE
5.6: TRADE AND CASH DISCOUNTS
5.7: MULTIPLE TOPICS
ANSWERS SECTION

CHAPTER 6 FINANCIAL STATEMENTS OF PARTNERSHIP
6.1: FINANCIAL STATEMENTS OF PROFIT OR LOSS & APPROPRIATION ACCOUNT
6.2: PARTNERSHIP CURRENT AND CAPITAL ACCOUNTS
6.3: DOUBLE ENTRY IN PARTNERSHIP ACCOUNTS
6.4: MULTIPLE TOPICS
ANSWERS SECTION

CHAPTER 7 CAPITAL AND REVENUE
7.1: CAPITAL EXPENDITURES
7.2: REVENUE EXPENDITURES
7.3: CAPITAL & REVENUE RECEIPTS
7.4: MULTIPLE TOPICS
ANSWERS SECTION

CHAPTER 8 ERRORS AND SUSPENSE ACCOUNT
8.1: ERRORS NOT AFFECTING AGREEMENT OF TRAIL BALANCE
8.2: ERRORS AFFECTING AGREEMENT OF TRAIL BALANCE
8.3: MISTAKES IN TRAIL BALANCE
8.4: SUSPENSE ACCOUNT
8.5: CALCULATION OF CORRECT PROFIT
8.6: EFFECTS OF ERRORS ON PROFIT
8.7: MULTIPLE TOPICS
ANSWERS SECTION

CHAPTER 9 CONTROL ACCOUNTS
9.1: SALES LEDGER CONTROL ACCOUNT
9.2: PURCHASE LEDGER CONTROL ACCOUNT
9.3: CORRECTIONS IN SALES LEDGER CONTROL ACCOUNT
9.4: CORRECTIONS IN PURCHASE LEDGER CONTROL ACCOUNT
9.5: CONTROL ACCOUNT BALANCES FOR STATEMENT OF FINANCIAL POSITION
9.6: BOOKS OF ORIGINAL ENTRY
9.7: MULTIPLE TOPICS
ANSWERS SECTION

CHAPTER 10 ACCOUNTS FROM INCOMPLETE RECORDS
10.1: CALCULATIONS OF SALES
10.2: CALCULATIONS OF PURCHASES
10.3: MARK-UP & MARGIN
10.4: PREPAYMENTS & ACCRUALS
10.5: CALCULATE PROFIT THROUGH STATEMENTS
10.6: CALCULATIONS OF INVENTORY
10.7: CALCULATIONS OF INVENTORY LOSSES
10.8: CALCULATIONS OF DEPRECIATION
10.9: MULTIPLE TOPICS
ANSWERS SECTION

CHAPTER 11 COMPANY ACCOUNTS-ISSUE OF SHARES
11.1: SHARES AND DEBENTURES-AN INTRODUCTION
11.2: CAPITAL AND REVENUE RESERVES
11.3: RIGHT AND PUBLIC ISSUE
11.4: BONUS ISSUE
11.5: RIGHTS AND BONUS ISSUE COMBINED
11.6: ISSUE OF SHARES AND DEBENTURES COMBINES
11.7: MULTIPLE TOPICS
ANSWERS SECTION

CHAPTER 12 FINANCIAL STATEMENTS OF COMPANIES
12.1: STATEMENT OF PROFIT OR LOSS FOR COMPANIES
12.2: REVALUATION OF ASSETS
12.3: CALCULATION OF DIVIDENDS
12.4: CALCULATION OF RETAINED PROFITS
12.5: STATEMENT OF CHANGES IN EQUITY
12.6: STATEMENT OF FINANCIAL POSITION
12.7: MULTIPLE TOPICS
ANSWERS SECTION

CHAPTER 13 RATIO ANALYSIS
13.1: EXPENSES AND PROFIT RATIOS-CALCULATION
13.2: EXPENSES AND PROFIT RATIOS-INTERPRETATION
13.3: RETURN ON CAPITAL EMPLOYED-CALCULATION
13.4: RETURN ON CAPITAL EMPLOYED-INTERPRETATION
13.5: INVENTORY TURNOVER RATIO-CALCULATION
13.6: INVENTORY TURNOVER RATIO-INTERPRETATION
13.7: RECEIVABLES & PAYABLES PAYMENT PERIOD-CALCULATION
13.8: RECEIVABLES & PAYABLES PAYMENT PERIOD-INTERPRETATION
13.9: LIQUIDITY RATIOS-CALCULATION
13.10: LIQUIDITY RATIOS-INTERPRETATION
13.11: NON CURRENT ASSETS TURNOVER RATIO-CALCULATION
13.12: NON CURRENT ASSETS TURNOVER RATIO-INTERPRETATION
13.13: MULTIPLE TOPICS
ANSWERS SECTION

CHAPTER 14 COMPUTERISED ACCOUNTING
14.1: COMPUTERISED ACCOUNTING ADVANTAGES
14.2: MULTIPLE TOPICS
ANSWERS SECTION

CHAPTER 15 INVENTORY VALUATION
15.1: FIRST IN FIRST OUT(FIFO)
15.2: AVERAGE COST METHOD (AVCO)
15.3: MULTIPLE TOPICS
ANSWERS SECTION

CHAPTER 16 COST CONCEPTS AND COST CLASSIFICATIONS
16.1: FIXED COSTS
16.2: VARIABLE COST
16.3: SEMI VARIABLE COST
16.4: DIRECT AND INDIRECT COSTS
16.5: SUNK AND STEPPED COSTS
16.6: MULTIPLE TOPICS
ANSWERS SECTION

CHAPTER 17 LABOUR COSTING
17.1: BASIC PAY
17.2: BONUSES
17.3: OVERTIME
17.4: BONUSES & OVERTIME
ANSWERS SECTION

CHAPTER 18 JOB AND BATCH ORDER COSTING
18.1: JOB AND BATCH COSTING-CALCULATIONS
18.2: JOB AND BATCH COSTING- THEORY
ANSWERS SECTION

CHAPTER 19 ABSORPTION COSTING
19.1: APPORTIONMENT & ALLOTMENT OF OVERHEADS
19.2: CALCULATION OF OVERHEAD ABSORPTION RATE
19.3: CALCULATION OF PER UNIT COST AND SELLING PRICE
19.4: CALCULATION OF UNDER (OVER) ABSORPTION OF OVERHEADS
19.5: ABSORPTION COSTING-THEORY
ANSWERS SECTION

CHAPTER 20 BREAK-EVEN AND PROFIT VOLUME ANALYSIS
20.1: CONTRIBUTION AND CONTRIBUTION RATIO
20.2: BREAK-EVEN
20.3: MARGIN OF SAFETY
20.4: BREAK-EVEN AND PROFIT VOLUME CHART
20.5: MULTIPLE TOPICS
ANSWERS SECTION

CHAPTER 21 MARGINAL COSTING AND DECISION MAKING
21.1: CALCULATIONS OF TOTAL COSTS & PROFITS
21.2: HIGH-LOW METHOD
21.3: CLOSURE OF LOSS MAKING DEPARTMENT
21.4: MAKE OR BUY DECISION
21.5: ACCEPTANCE OF ORDERS BELOW NORMAL PRICE
ANSWERS SECTION

CHAPTER 22 MARGINAL COSTING & LIMITING FACTORS
22.1: IDENTIFICATION OF LIMITING FACTOR
22.2: PRODUCTION RANKING
22.3: OPTIMUM PRODUCTION PLAN
22.4: CALCULATION OF PROFIT
ANSWER SECTION

CHAPTER 23 MARGINAL COSTING AND DECISION MAKING
23.1: CALCULATION OF COSTS AND INVENTORIES
23.2: CALCULATION OF PROFITS
23.3:RECONCILIATION OF PROFITS
23.4: MULTIPLE TOPICS
ANSWERS SECTION