BCS Written Accounting Practice Questions - BCS Written Post-Related Accounting, Subject Code 701, Total Marks 200 Exam - BCS Written Accounting Practice Questions - BCS Written Post-Related Accounting, Subject Code 701, Total Marks 200 Exam

Question 1

In financial accounting, the primary definition of accounting is that it is a process of:

Auditing tax returns for the National Board of Revenue Setting product selling prices for a factory Identifying, measuring, recording, and communicating economic information to users Preparing only cash budgets for managers

Correct Answer:

Identifying, measuring, recording, and communicating economic information to users

Question 2

The main objective of financial accounting is to:

Record only cash receipts and ignore credit sales Minimise the firm’s income-tax assessment regardless of economic events Replace the need for an independent audit Provide periodic financial statements that fairly present results and position to external users

Correct Answer:

Provide periodic financial statements that fairly present results and position to external users

Question 3

Which group consists of external users of financial accounting information?

Shop-floor supervisors planning tomorrow’s shift The entity’s cost accountant allocating overhead Investors, lenders, and tax authorities The board’s internal budget committee only

Correct Answer:

Investors, lenders, and tax authorities

Question 4

If assets are Tk 180,000 and liabilities are Tk 70,000, owner’s equity is:

Tk 250,000 Tk 70,000 Tk 110,000 Tk 180,000

Correct Answer:

Tk 110,000

Question 5

The going-concern GAAP guideline assumes that the entity will:

Be liquidated within the next reporting period Revalue every asset to scrap value each year Continue operations for the foreseeable future unless evidence shows otherwise Ignore unpaid liabilities because they will never be settled

Correct Answer:

Continue operations for the foreseeable future unless evidence shows otherwise

Question 1

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Prepare with the BCS Written Accounting Practice Questions - BCS Written Post-Related Accounting, Subject Code 701, Total Marks 200 Exam practice quiz. This question bank includes 100 questions covering accounting, cost, financial, inventory, and units. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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BCS Written Accounting Practice Questions - BCS Written Post-Related Accounting, Subject Code 701, Total Marks 200 Exam

This practice set contains 100 questions from the matching question bank and focuses on accounting, cost, financial, inventory, and units. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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BCS Written Accounting Practice Questions - BCS Written Post-Related Accounting, Subject Code 701, Total Marks 200 Exam

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