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
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
he term 2/10-n/30 implies that ______ % discount will be given if the payment is made within days or full amount is receivable within 30 days?
A: 2,10
B: 10,2
C: 10,30
D: 3,15
2,10
Goods returned by customer should be debited to which of the following accounts?
A: Sales income account
B: Sales account
C: Return inward account
D: Expenses account
Return inward account
Discount allowed is___________?
A: Expense of business
B: Income of business
C: Loss of business
D: Abnormal loss of business
Expense of business