Accounting Multiple Choice Questions (MCQs). Accounting Quiz from 6 to 10.
6. What from the following is NOT a current asset?
(A) Patent rights
(D) Trade receivables
7. What from the following is NOT a non-current asset?
(C) Patent rights
8. What from the following is/are NOT tangible asset(s)?
I. Patent rights
(A) I only
(B) II only
(C) I and II only
(D) I, II and III
9. A machine price was $1,000 and was carried through a truck. The truck’s fares were $500. The engineers charged $500 for the installation. The cost of the machine is?
10. Depreciable amount =
(A) Cost of an asset + Residual value
(B) Cost of an asset – Residual value
(C) Residual value – Cost of an asset
(D) None of these
ANSWERS: ACCOUNTING QUIZ
6. (A) Patent rights
7. (D) Inventory
8. (C) I and II only
9. (C) $2,000
10. (B) Cost of an asset – Residual value. Next: Accounting Questions 11–15