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 accounts will be debited if the businesss owner withdraws cash from business for his personal use?
A: Drawings
B: Cash
C: Business
D: Stock
Drawings
Discount allowed is___________?
A: Expense of business
B: Income of business
C: Loss of business
D: Abnormal loss of business
Expense of business
_________ is the evidence that a transaction took place?
A: Source documents
B: Ledger
C: Bonds
D: Journals
Source documents
Which of the following will be debited if a business purchases goods on credit?
A: Cash
B: Debtor
C: Creditor
D: Purchases
Purchases
The process of recording transactions in different journals is called_________?
A: Posting
B: Entry making
C: Adjusting
D: Journalizing
Journalizing
Discount allowed is a kind of deduction from_____________?
A: Account payable
B: Account receivable
C: Cash account
D: Discount account
Account receivable
A journal entry in which two or more account is debited or credited is referred as____________?
A: Journal entry
B: Multi entry
C: Additional entry
D: Compound entry
Compound entry