MCQs (BHMCT 206)
BHMCT 206
HOTEL ACCOUNTING
SET 1
1. The main
objective of Book-keeping is :
(A) Complete
recording of transactions
(B)
Ascertainment of Financial effect on the business
(C) Analysis
and interpretation of data)
(D) ‘A’ ‘B’
(Both ‘A’ and ‘B’)
2. In
accounts recording is made of:
(A) Only financial
transactions
(B) Only
non-financial transactions
(C)
Financial and non-financial transactions
(D) Personal
transactions of the proprietor
3. ` 5,000
paid as rent of office premises is an/a .......:
(A) Event
(B)
Transaction
(C) Both ‘A’
and ‘B’
(D) None of
these
4. Which of
the following transactions is not of financial character:
(A) Purchase
of goods on credit
(B) Purchase
of a building
(C) Payment
of salaries)
(D) Strike
by employees
5. Internal
users of accounting information are:
(A) Creditors
(B)
Potential investors
(C) Managers
(D)
Researchers
6. External
users of accounting information are:
(A)
Researchers
(B)
Government
(C) Tax
authorities
(D) All of
the above
7. On 31st
December, 2010 Ashok Ltd. purchased a machine from Mohan Ltd. for ` 1,75,000.
This is :
(A) A
transaction
(B) An event
(C) Both a
transaction as well as an event
(D) None of
these
8.
Management Accounting:
(A) Is a
clerical work
(B) Is
accounting for future
(C) Is a recording technique of the management
related transactions?
(D) Is an
analysis of past business activities
9. Which of
the following is not the limitation of accounting?
(A) Evidence
in legal matters
(B)
Incomplete information
(C) Based on
accounting conventions
(D) Lack of
qualitative information
10. At the
end of the financial year after sale of goods worth ` 2,00,000, there was a
closing stock of ` 10,000. This is:
(A) An event
(B) A
transaction
(C) Both
event as well as transaction
(D) None of
these
11. Which of
the following is not a sub-field of accounting?
(A)
Management Accounting
(B) Cost
Accounting
(C)
Financial Accounting
(D)
Book-keeping
12. All of
the following are the functions of accounting except :
(A)
Decision-making
(B)
Measurement
(C)
Forecasting
(D) Posting
13. On 1st
September Kashyap paid rent ` 2,000. Under which form it will be classified :
(A) An event
(B) A
transaction
(C) an event
and also as a transaction
(D) Neither
a transaction, nor an event
14. On what
basis the financial position of business is ascertained ?
(A) Records
prepared under the process of Book-keeping
(B) Trial
Balance
(C)
Accounting Report
(D) None of
the above
15. On
March, 2012 after sale of goods worth ` 5,000 he is left with the closing stock
of ` 8,000. This is :
(A) An event
(B) A
transaction
(C) A
transaction as well as an event
(D) Neither
a transaction nor an event
16. Who
invented the double entry system ?
(A) Marshall
(B) Karl
Pearson
(C) J.R.
Batliboi
(D) Lucas
Pacioli
17.
Accounting is :
(A) a
Science
(B) an Art
(C) an Art
and Science both
(D) None of
these
18.
Book-keeping was firstly introduced in :
(A) England
(B) America
(C) India
(D) Italy
19. Who is
the user of Accounting information ?
(A) Owners
(B)
Management
(C) Investor
(D) All of
the these
20. Which of
the following is not a sub-field of Accounting ? (CA, CPT June, 2012)
(A)
Financial Accounting
(B)
Book-keeping
(C)
Management Accounting
(D) Cost
Accounting
21. Which of
the following is not a limitations of Accounting ? (Commerce Olympiad,
2011)
(A) Based on
Accounting Convention
(B) Evidence
in Legal Matters
(C)
Incomplete Information
(D) Omission
of Qualitative Information
22.
Accounting is :
(A)
Accounting : A Profession
(B)
Accounting : A Social Force
(C)
Accounting : A Service Activity
(D) All of
the above
[ANSWER
KEY TO SET 1: 1. (D), 2. (A), 3. (B), 4. (D), 5. (C), 6. (D), 7. (C), 8.
(C), 9. (A), 10. (A), 11. (D), 12. (D), 13. (B), 14. (C), 15. (A), 16. (D), 17.
(C), 18. (D), 19. (D), 20. (B), 21. (B), 22. (D)]
SET 2
1. Goods
means :
(A) Commodity
to be bought and sold
(B)
Commodity to be used as an asset
(C)
Commodity to be bought but not to be sold
(D) None of
these
2. Which of
the following is not a current asset ?
(A) Prepaid
Expenses
(B) Debtors
(C)
Furniture
(D) Bills
Receivable
3. Which of
the following is not a tangible asset ?
(A) Motor
Car
(B) Goodwill
(C) Stock
(D) Building
4. Trade
discount is :
(A) Allowed
at the time of receiving payment
(B) Allowed
at the time of sale of goods
(C) Both ‘A’
and ‘B’
(D) Allowed
in all the cases
5. Cash
discount is :
(A) Allowed
at the time of sale of goods
(B) Received
at the time of making payment
(C) Received
at the time of purchase of goods
(D) All the
above
6. Working
Capital is %
(A) Current
Assets – Current Liabilities
(B) Current
Assets + Current Liabilities
(C) Current
Assets + Fixed Assets
(D) None of
these
7. Current
Assets is %
(A) Land
(B) Building
(C)
Machinery
(D) Stock
8. Current
Liabilities is %
(A)
Creditors
(B)
Debentures
(C)
Long-term Loan
(D) None of
these
9. Building
A/c is related to %
(A) Personal
A/c
(B) Real A/c
(C) Nominal
A/c
(D) None of
these
10. Interest
A/c is %
(A) Nominal
A/c
(B) Real A/c
(C) Personal
A/c
(D) None of
these
11.
Non-current Assets is %
(A) Building
(B) Stock
(C) Debtors
(D) Prepaid
Expense
12. Arun is
a Book-seller, which item will be goods for his business ?
(A) Purchase
of Computer
(B) Purchase
of Fan
(C) Purchase
of Furniture
(D) Purchase
of Stationery
13. Repair
charge of office old furniture is %
(A) Revenue
Expense
(B) Capital
Expense
(C) Both
Revenue & Capital Expense
(D) None of
these
14. Capital
profit is profit %
(A) Profit
& Loss A/c of Business
(B) Sale of
fixed asset
(C) Sale of
goods
(D) None of
these
15. Salary
A/c is related to %
(A) Personal
A/c
(B) Real A/c
(C) Nominal
A/c
(D) Capital
A/c
16.
Investment A/c is related to %
(A) Personal
A/c
(B) Real A/c
(C) Nominal
A/c
(D) None of
these
17. Debit
word is %
(A) French
Language
(B) Latin
Language
(C) Hindi
Language
(D) English
Language
18. Is given
to businessman when clear his payment before certain period ?
(A) Cash
Discount
(B) Special
Discount
(C) Trade
Discount
(D) None of
these
19. Formula
of Liquid Assets %
(A) Current
Assets – Stock + Prepaid Expense
(B) Current
Assets – Current Liabilities
(C) Current
Assets + Stock + Prepaid Expense
(D) None of
these
20.
Long-term Liabilities %
(A)
Debentures
(B) Bills
Payable
(C)
Creditors
(D)
Outstanding Expenses
21. Capital
Expense from %
(A) Decrease
Asset
(B) Decrease
Liabilities
(C) Increase
Asset
(D) None of
these
22. Expense
on installation of new machinery %
(A) Capital
Expense
(B) Capital
Loss
(C) Revenue
Expense
(D) Revenue
Loss
[ANSWER
KEY TO SRT 2: 1. (A), 2. (C), 3. (B), 4. (B), 5. (B), 6. (A), 7. (D), 8.
(A), 9. (B), 10. (A), 11. (A), 12. (D), 13. (A), 14. (B), 15. (C), 16. (B), 17.
(B), 18. (A), 19. (A), 20. (A), 21. (C), 22. (A)]
SET 3
1. Each ‘T’ account contains the exact amount
owing to a supplier
(A) Sales
ledger
(B)
Purchases ledger
(C)
General ledger
(D) Cash
book
2. The
Trial balance
(A) is
a listing of all the general ledger account balances at a particular date.
(B) is a
listing of all the assets and expenses at a particular date.
(C) is a
summary of all revenues and expenses at a particular date.
(D) is a
summary of cash inflows and cash outflows at a particular date.
3. Which
of the following are Real accounts?
I Land
II
Equipment
III
Creditors
IV Cash
(A) I and
II only
(B) I, II
and III
(C) I, III
and IV
(D) I, II and IV
4. Which
of the following jobs check accounting in ledgers and financial statements?
(A)
Financial
(B)
Audit
(C)
Management
(D) Budget
Analysis
5. The
process of accounting is needed to
I. take a
holiday
II. assist
in decision making
III.
invest in start up of a business
IV. track
money spent
(A) I, II
and III
(B) I, II
and IV
(C)I, III
and IV
(D)II,
III and IV
6. Which
of the following describes the practical framework of bookkeeping?
(A)
Classifying, recording and summarizing
(B)
Reporting, analyzing and interpreting
(C)Classifying,
analyzing and interpreting
(D)Recording, summarizing and reporting
ANSWER KEY TO SET 3:
Q. 1. (B)
Purchases ledger
Q. 2. (A)
is a listing of all the general ledger account balances at a particular date.
Q. 3. (D)
I, II and IV
Q. 4. (B)
Audit
Q. 5. (D)II,
III and IV
Q. 6. (A)
Classifying, recording and summarizing
SET 4
(a) In which order does the
journal list transactions?
(i) Alphabetical (ii)
Decreasing
(iii) Increasing (iv)
Chronological
(b)
Which of the following book is
maintained in a hotel?
(i) Guest Weekly
Bill (ii)
Visitors’ Tabular Ledger
(iii) City
Ledger (iv) All of the above
(c)
Which is the revenue producing
department in a hotel?
(i) Front
Office (ii) Back Office
(iii) Both (i) and
(ii) (iv) None of the above
(d)
Which of the
following is not a Real Account?
(i) Cash A/c (ii) Investments A/c
(iii) Outstanding
rent A/c (iv) Purchases A/c
(e)
Value of goods
withdrawn by the proprietor for his personal use should be
credited to ____
(i) Capital A/c (ii) Sales A/c
(iii) Drawings A/c
(iv) Purchases A/c
(f)
VTL is prepared to:
(i) Make a
comprehensive record of all guests in a hotel
(ii) Make a
comprehensive record of all residential guests in a hotel
(iii) Both (i) and
(ii)
(iv) None of the
above
(g)
M/s Stationery Mart
will debit the purchase of stationery to _______
(i) Purchases A/c (ii) General Expenses
A/c
(iii) Stationery
A/c (iv) None
(h)
Small items like,
pencils, pens, files, etc. are written off within a year according
to _____ concept.
(i) Materiality (ii) Consistency
(iii) Conservatism
(iv) Realisation
(i)
Business enterprise
is separate from its owner according to _____ concept.
(i) Money measurement
concept (ii) Matching concept
(iii) Entity
concept (iv) Dual aspect concept
(j) Double entry book-keeping was
started by
(i) F.W Taylor
(ii) Henry Fayol
(iii) Lucas Pacioli
(iv) Adam Smith
(k)
Posting of entries in tabular format is
called:
(i)Tabular
system (ii) Uniform system
(iii) Non uniform
system (iv) All of the above
(l)
Cost concept
basically recognizes ______
(i) Fair Market value (ii) Historical cost
(iii) Realisable
value (iv) Replacement cost
(m) Accounting
is an:
(i) Art (ii) Science
(iii) Both (i) and (ii) (iv)
None of the above
(n)
Which of the following is a type of
hotel room rates?
(i) Corporate
Rate (ii)
Downtown Hotel
(iii) Motel
Rate (iv)
All of the above
(o)
Hotel rates are fixed by:
(i) 24 Hours
basis (ii) Night stay basis
(iii) Check out time
basis (iv)
All of the above
(p)
Which of the
following provide frame work and accounting policies so that the
financial statements of different enterprises become comparable.
(i) Business Standards (ii) Accounting
Standards
(iii) Market
Standards (iv) None of the above
(q)
Which of the
following factor is not considered while selecting accounting
policies?
(i) Prudence (ii) Substance over form
(iii) Accountancy (iv) Materiality
(r)
Which of the following is called primary
books of accounts:
(i) Cash Book
(ii) Ledger
(iii) Both (i) and (ii)
(iv) None of the above
(s) According to which concept, the proprietor
pays interest on drawings
(i) Accrual concept
(ii) Conservatism concept
(iii) Entity concept
(iv) Dual Aspect concept
(t) The process of recording financial data upto
trial balance is
(i) Book keeping
(ii) Classifying
(iii) Summarising
(iv) Analyzing
KEY
TO MCQs [SET 4]
Question No.
|
Answer
|
(a)
|
(iv) Chronological
|
(b)
|
(iv) All of the above
|
(c)
|
(i) Front Office
|
(d)
|
(iii) Outstanding rent A/c
|
(e)
|
(iv) Purchases A/c
|
(f)
|
(ii) Make a
comprehensive record of all residential guests in a hotel
|
(g)
|
(i) Purchases A/c
|
(h)
|
(i ) Materiality
|
(i)
|
(iii) Entity concept
|
(j)
|
(iii) Lucas
Pacioli
|
(k)
|
(i)Tabular
system
|
(l)
|
(ii) Historical cost
|
(m)
|
(iii) Both (i)
and (ii)
|
(n)
|
(i) Corporate
Rate
|
(o)
|
(iv) All of the
above
|
(p)
|
(ii) Accounting Standards
|
(q)
|
(iii) Accountancy
|
(r)
|
(iii) Both (i) and (ii)
|
(s)
|
(iii) Entity concept
|
(t)
|
(i) Book keeping
|
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