Accounting MCQs
Accounting MCQs Test Preparation | Latest 2025 Quiz FPSC, NTS, KPPSC, PPSC, SPSC, BPSC, OTS, UTS, PTS, CTS, ATS, ETEA MCQs Test Questions.
_________ 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 is done?
A: Two times a year
B: once a year
C: Frequently during the accounting period
D: At the end of a accounting period
Frequently during the accounting period
Fresh capital introduction will increase____________?
A: Assets and liabilities
B: Assets and equity
C: Liabilities and equity and bank balance
D: Capital and liabilities
Assets and equity
Cash received for services rendered will______________?
A: Increase cash and liability
B: Increase equity and liability
C: Increase fixed assets and cash
D: Increase cash and equity
Increase cash and equity
Which of following best describes the increase in equity expands___________?
A: Business operations
B: cash outflows
C: Inflows of cash
D: Appropriation expenses
Business operations
If Cash=$1000 inventories=$4000 Debtors=$5000 fixed assets=? Capital+Liabilities=$15000 What is the Amount of total assets?
A: $5,000
B: $10,000
C: $15,000
D: $20,000
$5,000
An increase in provision for bad debt will____________?
A: Decrease net income
B: Decrease liabilities
C: Increase net income
D: Increase liabilities
Decrease net income