Search
Question: Which of the following is NOT a component of the current ratio?Options: CashAccounts Recei..
Question: What is the primary focus of IAS 2?Options: Revenue RecognitionInventory ValuationFinancia..
Question: Which method of inventory valuation assumes that the oldest inventory items are sold first..
Question: What does the debt to equity ratio indicate?Options: Profitability of the companyFinancial..
Question: Which ratio is used to assess a company\'s liquidity?Options: Debt to Equity RatioCurrent ..
Question: What is the effect of an inventory write-down on the financial statements?Options: Increas..
Question: Which accounting standard governs the recognition of revenue?Options: IAS 1IFRS 15IAS 2IFR..
Question: What is the primary purpose of a trial balance?Options: To prepare financial statementsTo ..
Question: Which of the following is a measure of a company\'s operational efficiency?Options: Return..
Question: What does a negative return on equity (ROE) signify?Options: Company is profitableCompany ..
Question: Which ratio is used to assess a company\'s efficiency in managing its inventory?Options: I..
Question: What is the formula for calculating the gross profit margin?Options: (Sales - Cost of Good..
Question: Which accounting standard is primarily concerned with the presentation of financial statem..
Question: What does the price-to-earnings (P/E) ratio indicate?Options: Company\'s profitabilityMark..
Question: Which of the following is NOT a liquidity ratio?Options: Current RatioQuick RatioDebt to E..
Question: What does a high debt to equity ratio indicate?Options: Low financial riskHigh financial r..
Question: Which ratio measures a company\'s profitability relative to its total assets?Options: Retu..
Question: What is the journal entry for a partner\'s share of profit in a partnership?Options: Debit..
Question: How should goodwill be treated in the accounts of a partnership?Options: As an assetAs a l..
Question: What is the effect of a partner withdrawing from a partnership on the capital accounts?Opt..
Question: Which accounting standard governs the recognition of revenue in partnerships?Options: IFRS..
Question: What is the purpose of preparing final accounts for a partnership?Options: To determine th..
Question: What is the journal entry to record depreciation expense for a partnership?Options: Debit ..
Question: How is the profit or loss of a partnership typically distributed among partners?Options: E..
Question: What is the journal entry to record the initial capital contribution of a partner in a par..
Question: What is the effect of revaluation of assets in a partnership?Options: Increase in capital ..
Question: In a partnership, how is the profit-sharing ratio determined?Options: Equally among all pa..
Question: What is the journal entry for a partner withdrawing cash from the partnership?Options: Deb..
Question: Which accounting standard governs the accounting for partnerships?Options: IFRS 1IAS 2IFRS..
Question: What is the purpose of preparing a final account for a partnership?Options: To determine t..
