Accounting MCQs
Accounting MCQs Test Preparation | Latest 2025 Quiz FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, ETEA MCQs Test Questions.
Which of the following is not a contingent liability?
A: Debts included in Sundry Debtors which are doubtful in nature
B: Uncalled liability on partly paid shares
C: Claims against the company not acknowledged as debts
D: Arrears of fixed cumulative dividend Read More Details about this Mcq
Debts included in Sundry Debtors which are doubtful in nature
Tax deducted at source appears in the Balance Sheet
A: On the assets side under current assets
B: On the assets side under loans and advances
C: On the liabilities side under current liabilities
D: On the liabilities side under provisions
On the liabilities side under current liabilities
Which of the following statements is false ? select the false from below options
A: Balance Sheet discloses financial position of the business
B: A person who owes to the business is called Debtor
C: Decrease in the value of the asset could decrease the value of a liability
D: Assets are to be shown in the Balance Sheet at the realizable value Read More Details about this Mcq
Assets are to be shown in the Balance Sheet at the realizable value
The Balance Sheet gives information regarding the____________?
A: Results of operations for a particular period
B: Financial position during a particular period
C: Profit earning capacity for a particular period
D: Financial position as on a particular date
Financial position as on a particular date
Which of the following accounts appear(s) in the Balance Sheet of a business?
A: Stock at the end of the financial year
B: Stock at the beginning of the financial year
C: Drawings
D: Prepaid Rent & Interest received but not yet earned
E: All of these
All of these
Computers taken on hire by a business for a period of twelve months should be classified as:___________?
A: Current assets
B: Intangible assets
C: Deferred revenue expenditure
D: Not an asset Read More Details about this Mcq
Not an asset
Which of the following is not an intangible asset?
A: Trade mark
B: Franchise
C: Accounts Receivable
D: Secret Profit Read More Details about this Mcq
Accounts Receivable
Which of the following is a current liability?
A: Prepaid expenses
B: Trademark
C: Discount on issue of shares
D: Outstanding Salaries Read More Details about this Mcq
Outstanding Salaries
Based on which of the following concepts, is Share Capital Account shown on the liabilities side of a Balance Sheet?
A: Business entity concept
B: Money measurement concept
C: Going concern concept
D: Matching concept Read More Details about this Mcq
Business entity concept
Which of the following is not true with regard to preparation of Profit & Loss Account?
A: Profit & Loss Account is prepared for a certain period and hence it is an interim statement
B: Profit & Loss Account does not disclose the effect of non-financial items
C: Net Profits are ascertained on the basis of current costs
D: Net Profits as disclosed by P&L Account is not absolute
Profit & Loss Account is prepared for a certain period and hence it is an interim statement