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  • Financial Accounting
  • Cost Accounting
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  • Short questions
  • MCQs
  • Accounting Terms

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Mortgage Definition

November 23, 2019 by Abbas Ahmad

What is meant by mortgage? The mortgage is a promissory note secured by an asset, the title of which is pledged to the lender.

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Market Interest Rates Definition

November 23, 2019 by Abbas Ahmad

What do you mean by the market interest rates? The interest rates that the money market establishes through hundreds of individual transactions; and that depends on such factors as prevailing interest rates in the economy and the perceived risk of the individual company.

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Multi-step Income Statement

November 20, 2019 by Abbas Ahmad

What is a Multi-step Income Statement? Multi-step Income Statement is a form of the income statement that has various categories and arrives at net income in steps.

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Maturity Value Definition

November 17, 2019 by Abbas Ahmad

What is the Maturity Value? Maturity value is the total proceeds of a promissory note; includes principal and interest due to the maturity date.

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Maturity Date Definition

November 16, 2019 by Abbas Ahmad

What is meant by the term Maturity date in Accounting? The maturity date is the date a promissory note is due.

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Matching Convention Definition

November 16, 2019 by Abbas Ahmad

What is Matching Convention? Matching Convention is the basic rule underlying accrual accounting. Revenues are recognized as earned. All expenses incurred in earning those revenues are reported also in the period in which those revenues are recognized.

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Management Accounting Definition

November 13, 2019 by Abbas Ahmad

What is Management Accounting? Management accounting is the system and procedures that provide information to management for planning and controlling the business.

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Financial Accounting Topics

  • Computerized Accounting
  • Adjusting Entry for Accrued Income
  • Accounting Conventions
  • Creative Accounting
  • Window Dressing
  • Enterprise Value
  • Carrying Value or Book Value
  • Indifference Analysis
  • Combined Leverage
  • Financial Leverage

Cost Accounting Topics

  • Goods in transit
  • Periodic Inventory System
  • Factory Overhead Practical Problems and Solutions
  • Important Techniques of Factory Overhead Costing
  • Important techniques of labour costing
  • Labour Costing Practical questions with answers
  • Job Order Costing Examples, Practical Problems and Solutions
  • Predetermined Overhead Rate
  • Cost of production report (CPR) questions and answers
  • Incentive Plans

Question and Answers

  • Financial Reporting
  • Inventory Control System
  • Statement of changes in working capital
  • How to measure the acquisition cost of property, plant and equipment?
  • Comparison Between Different Cost Flow Assumptions
  • Application of different Cost Flow Assumptions
  • How to Determine the Cost of Ending Inventory
  • Methods of Estimating Ending Inventory
  • Lower of Cost or Market (LCM) Theory
  • Perpetual Inventory System

Cost Accounting MCQs

  • Introduction to cost accounting – MCQs quiz
  • Process Costing MCQs
  • Specific Order Costing MCQs
  • Overhead Costing MCQs
  • Labour Costing MCQs
  • Material Costing MCQs
  • Cost Concept, Analysis and Classifications MCQs
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