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 an external cause of depreciation?
A: Routine repair and maintenance
B: Misuse
C: Obsolescence
D: Wear and tear
Obsolescence
Which of the following is not depreciated?
A: Building
B: Land
C: Plant and Machinery
D: Office equipment
Land
____________is also known as Appraisal system of depreciation?
A: Inventory system
B: Survey system
C: Annuity system
D: Insurance
Inventory system
Bad debts recovered account will be transferred to______________?
A: Debtors Account
B: Profit and Loss Account
C: Provision for Doubtful Debt Account
D: Either (b )or
E: above Read More About this Mcq
Either (b )or above
The entry for creating a Provision for bad debts is_____________?
A: Debit Provision for Bad Debts A/c and credit Debtors A/c
B: Debit Debtors A/c and credit Provision for Bad Debts A/c
C: Debit Provision for Bad Debts A/c and credit Profit & Loss A/c
D: Debit Profit and Loss A/c and credit Provision for Bad Debts A/c.
Debit Profit and Loss A/c and credit Provision for Bad Debts A/c.
When a person purchasing goods on credit he becomes a_________in the books of the seller?
A: Debtor
B: Creditor
C: Defaulter
D: Offender
Debtor
Cost of goods sold excludes___________?
A: Opening Stock
B: Carriage inward
C: Wages & Salary
D: Postage & Stamps
Postage & Stamps
Tax deducted at source A/c appears in___________?
A: Assets side
B: Liability side
C: Profit & Loss A/c
D: Debited to Capital A/c
Assets side
Investment in own share A/c appears in____________?
A: Asset side
B: Liability side
C: Netted from Capital
D: Profit & Loss A/c
Asset side
Payments received in advance from a customer for a contract can be__________?
A: Shown as a deduction from contract work-in-progress on asset side
B: Shown as a liability
C: Credited to P&L A/c
D: Either or
E: above
Either or above